CUBIC CoverDec08.indd - Colliers

LANDGENT HOLI APARTMENT ( )
Serving both corporate and residential needs, these holiday apartments
combine the comfort of a home with the impeccable service of a hotel
For the developers, the strategic vision behind the Landgent project
was to maximise the use of land in the dense Beijing CBD and meet the
needs of a rising population of multi-national companies and their mostly
expatriate workers.
Wang believes that the high demand for land and space in Beijing will
continue to grow and the Landgent will serveto address current and future
concerns. “The potential for how we use the land has yet to be realised,”
said Wang. “We believe that the Landgent is a project that will grow with
Beijing’s development and in the long term, will be able to meet the city’s
growing needs.”
“Developments such as
the Landgent in Beijing
will allay many fears about
relocation and will
provide a ‘comfortable and
familiar zone’ for overseas
migrants to adjust to their
new home.”
Tim Hird, Managing Director
of Robert Half Singapore
THE TALENT DRIVE
In the past few years, many have been attracted to China for its unrivalled
opportunities and the rate of growth. Before the global financial slowdown
in 2008, China’s and its key cities enjoyed rosy growth. In Beijing, the past
five years have seen great economic strides. In 2001, Beijing’s per capita
GDP stood at US$3,200 but, by 2007, that figure had more than doubled to
US$7,500. With the success of the Olympics, Beijing expects to see per capita
GDP reach US$8,000 by the end of 2008. Even with the global slowdown,
China still expects to post a postive – if moderated – economic numbers.
The allure of cities such as Beijing is reflected in the popularity entrance
of large multi-national organisations and a diverse workforce, leading to
an immense population boom. The number of Beijing residents grew from
about 14 million in 2000 to 17 million in 2008. Currently, Beijing is also
home to some 1.1 million foreigners.
According to Mr Tim Hird, Managing Director of recruitment consultancy
Robert Half Singapore, Beijing continues to be sought after by job-seekers. “We
are receiving an increasing number of enquiries from overseas candidates about
opportunities in mainland China,” he told CUBIC, driven by the slowdown of
banking sectors in other markets such as the UK and the US. “Many employees are
seeking better job security in more stable financial environments.”
But expatriates, particularly those with families, usually have concerns about
cultural integration challenges when moving to developing countries, said Hird.
“Developments such as the Landgent in Beijing will allay many of
those fears and will provide a ‘comfortable and familiar zone’ for overseas
migrants to adjust to their new home.”
Ultimately, the decision to relocate is not always job-related, he added,
as housing conditions, educational infrastructure, lifestyle and cost of living
are some of the other key components that act as a “tipping point” for
professionals to choose one location over another. “Employers will respond
well to locations that make it easier for them to ‘package’ the destination to
interested employees,” he said, “(as) relocating staff is a time-consuming and
costly exercise so you want to be sure you can ensure a smooth transition.”
The Landgent Group has a keen understanding of the needs of the expat
community, said Wang.
“As one of our target groups is expatriates, many of the features of the
development have been designed to meet their needs, especially in terms
of education. When foreigners come to Beijing to work, education for their
children is a perennial concern, and is a key factor in attracting foreign
workers and investment. With the school, it helps to bridge a crucial gap.”
In 2004, the Landgent Group invested some RMB500 million to build the
BCIS, which can accommodate some 1,600 students from kindergarten to grade
12. Right now, almost all the students – some 95 per cent – are from overseas.
With the ability to provide a completely new location option for companies
with high consideration for “employee convenience”, the Landgent project
has an upper hand in attracting high-value corporations, noted Jim Serstad,
Director of Colliers Commercial Agency Department in Beijing.
“In a market like Beijing where the demand for talented employees is
very competitive, companies must provide a higher level of amenities to
their employees, including transportation, dining, residences, shopping and
recreation,” said Serstad, “Our experience is that our clients who visit Landgent
discover a new option that they previously would not have thought possible.”
And while Beijing has room for more international mixed-use
developments like Landgent, it still has first mover advantage, he added.
“There is a critical mass that needs to be reached and Landgent has already
achieved that. It will be hard for others to duplicate.”
For more information on Landgents Developements, please contact
Amanda Gao, Managing Director, Colliers International Beijing.
amanda.gao@colliers.com
| January 2009
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