Book 1 - Appraisal Institute of Canada

commercial development site, say
two long city blocks in width and
three city blocks in length. Put half
a dozen cranes on site. Put what
can best be described as three or
four columns of three-storey site
trailers full of triple bunk beds on
one corner to house your site crew.
Turn on the lights when it is dark so
that crews can work throughout the
night and turn them off when the
sun comes up. Picture a beehive
of activity. If anyone ever suggests
there is a shortage of construction
or other materials because of
China’s consumption, do not doubt
it. Some other people told me
they visited one development site
which was reported to have over
30 cranes.
The building profiles in both
Kunming and Beijing were lower
than I expected. Not that there
are not tall buildings, but 15 to 20
storeys is more typical. And some
have considerable mass, as the
above described footprint might
suggest. In the absence of a few
photos, one might be left with the
impression that mass translates
into institutional or bulky. Not
so. With a picture being worth a
thousand words, I have included
a few thousand words for your
consideration.
Thinking about things since
returning to Canada, I have to say
it was the ‘contrasts’ that strike
one the most. You have incredibly
high-tech meeting rooms with
wireless instantaneous translation
provided to everyone on the one
hand, and older buildings being
demolished one floor at a time by
labourers with sledge hammers,
pry-bars and shovels right across
the street. When, if ever in Canada,
was the last time any of us saw a
20- to 30-man maintenance crew
replacing ties and rails on a section
of track without heavy equipment.
On the same day, you can witness
the pride exhibited by a uniformed
street cleaner moving down a city
street (small broom and dirt bin in
hand) and read in the local paper
that the largest initial public offering
ever (calculated to be in the billions
USD), was just fully subscribed.
Closer to home, ponder the national
assessment roll which captures the
newest office building in a downtown
core, extremely modest housing
without the benefit of municipal
services, and everything in between.
Finally, imagine attempting to
establish in a decade what we take
for granted as being the business
of valuation. A daunting task in an
emerging market, but I have no
doubt it will be done and done well.
C a n a d i a n
Appraiser
E C
Volume 51 • book 1 • 2007 valuateur
a n a d i e n 39