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Asia Asset property has relocation covered
March 25, 2010, Thursday
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AN interview with Shirley Jiang, residential director of Asia Asset Property Services.
Q: What is your core business?
A: Asia Asset Property Services, a division of Hopefluent Group Holdings Ltd, is a public company listed on the Hong Kong Stock Exchange. Our core business in Shanghai is providing all professional residential, retail, commercial real estate services and property management. Our customers are of course tenants, but also multinational companies, landlords and property developers.
Q: What are the major trends for the relocation market in 2010?
A: 2009 was a difficult year for every industry, due to the financial crisis. A lot of companies had to cut the number and cost of expatriates. Even those who were already in place had to reduce their expectations when extending their contract or return home. It's a reality that the number of expatriate packages, including big allowances for housing, slowed down and this situation will continue.
2010 will be the year of the "local plus" package, based on a lower salary and housing allowance. Companies are drastically reducing the cost of their expatriates and prefer now to hire someone already in place in China and who have already crossed the cultural difference issues. MNCs (multi-national corporations) want to reduce the cost and risk and consider more and more local professionals for key positions.
In our industry, we are also taking care of this situation. Building a cheaper properties database is now critical, as well as making specific offers for short-term relocation and taking care of internal relocation in China.
The financial crisis is nearly over in China but MNCs still need to reduce the cost of their existing expatriates and also hire new expatriates to expand their activity.
With the HR department, the procurement department is now more and more involved in the property research process. We have to provide not only house search facilities, but professional services with long-term contracts and engagement. Professionalism and transparent processes are now vital for property services providers like us. The time for amateurs and one-shot deals is over.
Q: What kind of services are you providing??
A: 1. Relocation services: Relocating can put the whole family under huge stress as well as reducing work productivity and attracting exorbitant costs. Using an experienced real estate agent when looking for rental properties in the current housing market will save companies significant time and money.
2. Corporate residential services: Asia Asset works in partnership with the client company not only to find suitable housing for their expatriates but also in supporting the fulfillment of other HR functions.?The program provides various forms of support to both our corporate clients and their employees.?Many of these resources are included for all cases - some are designed specifically for more senior employees.??
3. Service management: In order to efficiently manage the provision of services we discuss and agree on a number of key areas with our corporate client. These can include, but are not limited to: response times, single point of contact, benchmarks, KPIs, reporting, client policy, policy exception procedures, service delivery, information capture, escalation process, standard formats, ancillary services, service authorization, dispute resolution and tenancy management.
Q: What is your key added value?
A: The crucial point is the knowledge of the market. Through our diverse portfolio of business, we can provide unique information and experience, so we are able to use this to provide the most accurate offer to our different clients. When a private or corporate client asks for advice, we are able to use all the different departments of Asia Asset, including of course a very huge database of property or retail offices, but also the expertise of 200 people in Shanghai specialized in working together to make the best offer. The client will have only one agent in charge and able to use all the resources of Asia Asset to propose the best solution. This is a crucial point in relocation as usually a client has to deal with different agents who are not really working together or sometimes compete against each other in the same company,
In Asia Asset we have the notion of KAM (Key Account Manager). He/she will be the interface from the beginning to the end of the process. This is a unique factor in the real estate market in Shanghai.
Q: What is your core business?
A: Asia Asset Property Services, a division of Hopefluent Group Holdings Ltd, is a public company listed on the Hong Kong Stock Exchange. Our core business in Shanghai is providing all professional residential, retail, commercial real estate services and property management. Our customers are of course tenants, but also multinational companies, landlords and property developers.
Q: What are the major trends for the relocation market in 2010?
A: 2009 was a difficult year for every industry, due to the financial crisis. A lot of companies had to cut the number and cost of expatriates. Even those who were already in place had to reduce their expectations when extending their contract or return home. It's a reality that the number of expatriate packages, including big allowances for housing, slowed down and this situation will continue.
2010 will be the year of the "local plus" package, based on a lower salary and housing allowance. Companies are drastically reducing the cost of their expatriates and prefer now to hire someone already in place in China and who have already crossed the cultural difference issues. MNCs (multi-national corporations) want to reduce the cost and risk and consider more and more local professionals for key positions.
In our industry, we are also taking care of this situation. Building a cheaper properties database is now critical, as well as making specific offers for short-term relocation and taking care of internal relocation in China.
The financial crisis is nearly over in China but MNCs still need to reduce the cost of their existing expatriates and also hire new expatriates to expand their activity.
With the HR department, the procurement department is now more and more involved in the property research process. We have to provide not only house search facilities, but professional services with long-term contracts and engagement. Professionalism and transparent processes are now vital for property services providers like us. The time for amateurs and one-shot deals is over.
Q: What kind of services are you providing??
A: 1. Relocation services: Relocating can put the whole family under huge stress as well as reducing work productivity and attracting exorbitant costs. Using an experienced real estate agent when looking for rental properties in the current housing market will save companies significant time and money.
2. Corporate residential services: Asia Asset works in partnership with the client company not only to find suitable housing for their expatriates but also in supporting the fulfillment of other HR functions.?The program provides various forms of support to both our corporate clients and their employees.?Many of these resources are included for all cases - some are designed specifically for more senior employees.??
3. Service management: In order to efficiently manage the provision of services we discuss and agree on a number of key areas with our corporate client. These can include, but are not limited to: response times, single point of contact, benchmarks, KPIs, reporting, client policy, policy exception procedures, service delivery, information capture, escalation process, standard formats, ancillary services, service authorization, dispute resolution and tenancy management.
Q: What is your key added value?
A: The crucial point is the knowledge of the market. Through our diverse portfolio of business, we can provide unique information and experience, so we are able to use this to provide the most accurate offer to our different clients. When a private or corporate client asks for advice, we are able to use all the different departments of Asia Asset, including of course a very huge database of property or retail offices, but also the expertise of 200 people in Shanghai specialized in working together to make the best offer. The client will have only one agent in charge and able to use all the resources of Asia Asset to propose the best solution. This is a crucial point in relocation as usually a client has to deal with different agents who are not really working together or sometimes compete against each other in the same company,
In Asia Asset we have the notion of KAM (Key Account Manager). He/she will be the interface from the beginning to the end of the process. This is a unique factor in the real estate market in Shanghai.
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