Asia Properties & Assets Consultancy has expanded overseas to Shanghai, China through the MRA Grant.
Updated: Feb 18, 2022
Asia Properties & Assets Consultancy Pte Ltd is one of the fastest-growing real estate and property asset management companies in Singapore.
Asia Properties & Assets Consultancy Pte Ltd offers business services such as Maintenance Management Services, Property & Assets Accounting and Financial Services, Property & Assets Administrative Services and Property & Assets Professional Consultancy Services.
China is the world’s most populous country and the world’s second largest economy. Since China began to open up and reform its economy in 1978, it has seen rapid economic development. Based on its 14th Five Year Plan (FYP; 2021-2025), China aims to pursue high quality and sustainable growth by focusing on boosting domestic consumption, leveraging technology and innovation, building self-reliance, as well as driving green and digital transformation.
Although China property developers has suffered huge challenges, investors are turning to property management companies for market growth. In fact, Revenue for China’s property-management industry totaled 1.18 trillion yuan last year, the equivalent of $185 billion, and the firms managed an area of about 8.15 million acres, according to China Real Estate Information Corp. data cited in a recent listing application by Zoina Service Commercial Ltd.
Property management has grown into an industry in its own right in China in recent years, with dozens of companies going public in Hong Kong. As well as standing guard and cleaning buildings, these groups are branching out into areas such as child care, bulk-buying of groceries, helping residents resell apartments and managing sales offices for developers.
Chinese property management companies have been sought after by investors since early 2020 as the equity market recognized the industry's recurring income and potential for growth. With supportive policies from Beijing, there was a surge of capital into the industry. The five biggest players by market value are likely to see revenue increases of 29% to 53% annually through 2023, consensus analyst forecasts compiled by FactSet show.
Also, with impact from COVID subsiding, it is suggested that there will be even stronger growth prospects for the sector with China property management companies restarting their expansion plans in the upcoming years.
As such. Asia Properties & Assets Consultancy Pte Ltd has identified a strong potential in the China marketspace during 2020.
Asia Properties & Assets Consultancy has since engaged Apstellar to setup an overseas office in Shanghai, China. We have recommend our client to tap on the Market Readiness Assistance (MRA) Grant, as this grant supports Singapore SMEs to expand overseas to develop an international presence.
Throughout the course of our consultancy services, the entire process was completed through digital means. Therefore, the client was not required to travel to China. We are pleased to share that the project has been completed, and our client has started their business operations in Shanghai early this year, 2021.