Finding opportunities for value-add real estate strategies in Hong Kong requires in-depth knowledge of the local community in one of the world’s most expensive cities, according to top developers and fund managers speaking at a panel this week.
“The way we look at where we invest, we focus on what we call the good neighbourhoods, which is where we see very strong structural tailwinds, where you have the ability to generate cash flow growth that’s growing in excess of inflation,” Pak Man Yuen, managing director at Blackstone the audience at the Mingtiandi Hong Kong Focus Forum on Tuesday.
Yuen said having an deep understanding of the needs of the local community and choosing a target market with robust fundamentals are keys to a successful value-add play.
The Blackstone managing director was appearing alongside top executives from Weave Living, Lofter Group and Fairland Holdings in front of the audience of 200 industry executives.
(*Reprint from Mingtiandi)