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Managing Readiness for Internationalization of China’s Real Estate Companies
Javier C. Cuervo1; Soo-May Cheng2
2007
Conference NameThe 12th Asian Real Estate Society (AsRES) Annual Conference and the 2007 American Real Estate and Urban Economics Association (AREUEA) International Conference
Source PublicationProceedings of The 12th Asian Real Estate Society (AsRES) Annual Conference and the 2007 American Real Estate and Urban Economics Association (AREUEA) International Conference
Conference Date9 – 12 July 2007
Conference PlaceMacau, China
Abstract

Mainland China’s real estate has been studied as an asset class from an investment, industry, institutions or macro-economic perspective. With its entry to the World Trade Organization (WTO) and changing governments’ regulations, local real estate companies in China continue to undergo transition and to internationalize from being a traditional, guanxi-based industry to an internationalized sector. Against this backdrop of change, the management of local real estate companies is facing new challenges as they seek participation from and competition with international companies by adopting international standards for managing their organization. A survey was undertaken through the administration of a questionnaire to 200 local real estate companies from Shanghai, Tianjin, Fuzhou, Hanzhou and Guangzhou. Some salient findings show that one-third of respondents think that the best contribution that foreign partners can bring to China’s real estate companies are in the area of creativity in design and in its financial strength. One-third of respondents plan to venture abroad or to reach foreign buyers, but only 17.2% of the local companies have an international division, department or unit. Local real estate companies will face increasing competition as foreign real estate companies are not just serving multinational companies in Mainland China but are also carving a niche in the local market. To compete successfully, local companies will need to adopt relevant international standards and practices in providing real estate services at home and abroad.

Fulltext Access
Document TypeConference paper
CollectionDEPARTMENT OF MANAGEMENT AND MARKETING
Affiliation1.Marketing, Faculty of Business Administration, University of Macau
2.Institute For Tourism Studies
First Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Javier C. Cuervo,Soo-May Cheng. Managing Readiness for Internationalization of China’s Real Estate Companies[C],2007.
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