Why The Show

Smart & Diversified Property Management Services Become An Imperative

Rapid development of the economy and the real estate market, as well as the ever-increasing demand for better living and working environment have fuelled the escalating pace of urban renewal in recent years. Households nowadays are demanding more premium property management experience - no longer content with bare-bones standard basic services such as day-to-day security, cleaning, gardening, and repair and maintenance. An upgrade in consumer tastes is pushing property managers to swiftly provide more comprehensive and customised value-added services beyond the standard fare.

The core service pledge of property management has changed from ‘property’ to ‘people’ and from ‘management’ to ‘service’. This paradigm shift has been embraced as the strategic imperative in charting the way on how business moves ahead in the real estate and property management sectors. Against this backdrop, property management companies are compelled to enhance their operations and services to cater customers’ fast-changing and diversified needs.

To meet the demand for enhanced service quality and experience, property managers should gear up to adopt and incorporate new and innovative technologies such as the Internet of Things (IoT), cloud computing, big data and artificial intelligence (AI) to provide the smart and high quality property services required and expected by customers.

Capitalise On Business Opportunities Brought By Asia’s Thriving Property Management Market

Fast-developing residential and commercial estates sectors in the region have driven the surging growth of the property management market. In particular, the property management markets in Mainland China and Hong Kong have been vibrantly developing over these recent years. Rapid urbanisation, the ever-growing number of residential, office and commercial properties, plus increasing disposable income, are all boosting the development of quality property management market in China.

The China Property Management Institute reported that the total revenue of China's property management market amounted to RMB 60.07 billion in 2017, as it expanded at a compound annual growth rate (CAGR) of 12.5% from 2008 to 2017. The revenue is forecasted to grow at a CAGR of 11% to reach RMB 1 trillion by 2022. Another research report by Huachuang Securities also highlights a booming property management market in China with the market size being expected to reach up to RMB 3 trillion in 2030.

Meanwhile, the total revenue of property management services in Hong Kong recorded a stable growth from HK$49.7 billion in 2013 to HK$62.7 billion in 2017, and is forecasted to reach HK$81.4 billion by 2022, growing at a CAGR of 5.4% during 2017 to 2022.

In addition, the steady influx of population continues to drive the housing demand in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The Chinese government has been actively promoting the development of the region with a number of preferential policies which definitely would help boost the growth of the real estate market in the GBA. According to the China Index Academy (CIA), the average gloss floor area of properties managed by the Top 100 Property Management Companies in the Great Bay Area soared to approximately 66.3 million s.q.m. as of December 31, 2018 from approximately 23.5 million s.q.m., as of December 31, 2014, representing a CAGR of 29.6%.

The 2025 International Property Management & Procurement Expo is going to render the property management industry players in Hong Kong, mainland China and across Asia an exceptional platform to feature their latest service and product offers, and to foster more business partnerships.