Weekly Briefing

article sponsor image
Feature

Asia is on Fire!

February 11, 2004 |
3 min read
listen to article Listen to this article

The group is now preparing for the long journey back to the United States. The last week has been fast and furious and all agree the trip has well exceeded expectations. After Tokyo and Seoul, the group continued onto Beijing, Hong Kong, Shanghai, Kuala Lumpur and finally Singapore. The experience will forever alter how each participant looks at business, Commercial Real Estate and the world in general.

Our visit to 5 countries, 7 cities and over 35 projects in 12 days has resulted in over 100 lbs. of paper and 50GB of information. It has also created relationships that will last forever. The most consistent theme of all was how unaware everyone was of the tremendous growth taking place in Asia. You can read about it, hear about it, watch it on TV, but until you experience it firsthand there is no way you can comprehend the scope of this expansion. It compares to the industrial revolution experienced in the United States.


Organizing, analyzing and disseminating the information gathered will be a mammoth undertaking. Over the next four months leading up to Realcomm, we will continue to inform our readership about the Commercial Real Estate best practices uncovered on this trip. We will also do our best to share the information with all the individuals and organizations that were so open and considerate to us on our trip.


The following is a view from 100,000 feet:

  • Asia is on fire -- the energy, passion and growth are undeniable.

  • The vision for the 21st century is being driven in many cases by the governments of these countries.

  • The relationship between the government, companies and individuals is integrated in this future vision.

  • Next-generation thinking is not an anomaly -- it is the foundation of business.

  • Technology and automation are not considered tactical but rather a way of life.

  • The work ethic is extraordinary; 10-14 hour days are the norm.

  • Education is central to this revolution; it is the fuel that is feeding this fire.

As for the Commercial Real Estate industry, it is very apparent that this region views our business a little differently than those of us in the United States. The following represent a few early observations:

  • In Asia, they are not building buildings they are building cities.

  • Efficiency and the desire to automate the business processes in our industry is key to the future vision.

  • There is a noticeable presence of youth in the Real Estate industry that is resulting in new perspectives.

  • Technology in buildings and throughout the industry is pervasive.

  • There is an aggressive desire to create and operate Real Estate with a 21st century vision.

All in the group realized that our perspective were somewhat tainted because all we saw were the progressive best practices the region had to offer. However, the 21st century vision became very apparent as you watched the people on the streets and malls. We bought a soda from a machine using a cell phone, paid for parking with smart cards, saw buildings managed with very sophisticated information systems and witnessed firsthand the emergence of a 21st century lifestyle.


We saw more than expected and collected more information than ever imagined. Over the coming months we will all work hard to sift through the mountains of data and work together to help bring these examples of international best practices to our industry.


All of us who traveled on this trip would like to extend sincere thanks to all of the people and organizations that made us feel so welcome - from the executives at the Aurora headquarters in Shanghai who lit up the side of their building as we departed for the airport, to the team at Suntec who ended our visit with a ceremony at the largest fountain in the world. EVERYONE we met exceeded our expectations of energy, passion, hospitality, respect, and service. We only hope that someday we will be able to repay them for their efforts!

This Week’s Sponsor

Do you need a commercial loan? Come see why C-Loans is the nation's most popular commercial mortgage portal. You can apply to 640 different commercial mortgage lenders, including almost every major bank in the country, using C-Loans.com. Simply fill out a two-minute mini-app. C-Loans will then suggest 40 suitable lenders. Pick six and submit with one click. Within minutes lenders will be calling you, emailing you, or faxing you offers. And C-Loans is free! Visit www.c-loans.com