Gathering Wisdom of the Real Estate Appraisal and Engineering Cost Industry to Support the Development of
the Guangdong-Hong Kong-Macao Greater Bay Area
—The 2024 Real Estate Appraisal and Engineering Cost Industry Conference successfully held
On March 27th, the 2024 Real Estate Appraisal and Engineering Cost Industry Conference was successfully held. It is the first time that Real Estate Appraisal and Engineering Cost Industry sub-forum was set up during the past 19 sessions of Mainland and Hong Kong Construction Forum. The sub-forum was jointly organized by China Institute of Real Estate Appraisers and Agents (CIREA), Hong Kong Institute of Surveyors (HKIS), and Guangdong Engineering Cost Association (GDECA). Dr. Chai Qiang, President of CIREA, Mr. Lin Jiahui, President of HKIS, and Mr. Lu Liming, President of GDECA, attended the sub-forum and delivered keynotes speeches. Mr. Zhao Xinming, Vice President and Secretary-General of CIREA, Mr.Wei Zhiheng, Chairman of the HKIS Quantity Surveying Group, co-hosted the sub-forum.
Dr. Chai Qiang, President of CIREA, gave a speech in forum, in Guangzhou, March 27, 2024.
Dr. Chai Qiang, President of CIREA, pointed out that the forum is a high-level, interdisciplinary, and inter-regional seminar. This event highlights the professional service value of real estate appraisal and engineering cost in the high-quality development of the construction of the Greater Bay Area. It is extremely important for gathering industry wisdom, jointly exploring innovative development experiences in the fields of real estate appraisal and engineering cost, sharing outcomes, and collaboratively advancing the high-quality construction of the Greater Bay Area.
Dr. Chai Qiang stated that real estate appraisal and engineering cost, as crucial professional service forces, although they represent different specialties, both are part of the housing and urban-rural construction sectors and provide professional services, involving economic calculations with the core centered around the common theme of value. Striving to evolve towards a consulting and advisory direction. Dr. Chai Qiang also pointed out that, Mainland and Hong Kong are in different stages of market development, there is a critical need to enhance connections and learn from each other across various dimensions, including professional knowledge, practical experience, standards and regulations, business development, corporate management, and industry self-regulated. In the future, real estate valuation companies and cost consulting firms in the Greater Bay Area should actively seize the significant historical opportunities presented by the development of the Guangdong-Hong Kong-Macao Greater Bay Area, to further expand the service areas and achieve an integrated development of real estate appraisal and engineering cost across the regions.
Mr. Ka Fai Lam, President of HKIS, pointed out that there has been a long engaged in exchanges and interaction between the two professions of real estate appraisal and engineering cost in Hong Kong and Mainland. Since the signing of Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), HKIS has signed qualification mutual recognition agreements with several mainland industry organizations, including CIREA and CCEA. Currently, the development of the Guangdong-Hong Kong-Macao Greater Bay Area is offering another historic opportunity for professionals. Mr. Ka Fai Lam stated that, on one hand, as a part of the development measures for Mainland’s Free Trade Pilot Zones, higher demands have been placed on real estate appraisal and engineering cost services in Hong Kong. On the other hand, it also facilitates Hong Kong professionals in seizing the tremendous potential and business opportunities offered by the Mainland's Free Trade Pilot Zones, thereby injecting new vitality into the economic development. In the future, HKIS will continue to actively promote deeper cooperation in real estate appraisal and engineering cost industries, ensuring mutual coordination of professional standards and rules, thereby aiding the international development of real estate appraisal and engineering cost industry.
Mr. Lu Liming, President of GDECA, pointed out that this year marks the 5th anniversary of the public release of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area. The 2024 Mainland China and Hong Kong Construction Forum, being held for the first time in the Greater Bay Area, will facilitate better implementation of the demands of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area. He pointed out that real estate appraisal and engineering cost companies should comprehensively, accurately, and steadfastly implement the One Country, Two Systems policy, strengthen exchanges, and jointly push the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area to new heights.
Focused on the key topics on value-added services in valuation and cost, innovation developments and experience sharing in consulting services, new requirements for surveyors arising from social development, and resolution of construction disputes, representatives from valuation companies had enthusiastic discussions.
Ms. Huang Xiqin, Vice President of CIREA and Chairman of GZL Appraisal Co.Ltd, believes that professional services such as real estate appraisal and engineering cost consulting are vital in fostering the development of new productive forces, and professional integration is a crucial pathway to achieve high-quality development across Guangdong, Hong Kong, and Macao. Mr. Chen Jiahui, Chairman of the HKIS General Practice Surveyors Group, shared thoughts and relevant case studies on diverse emerging business expansion areas such as research on real estate enterprise transformation strategies, analysis on enhancing corporate asset values, and ESG consulting for the real estate industry, based on an in-depth analysis of economic situations, changes in external demands of the real estate market, and lessons learned from the transformational development experiences of international real estate enterprises. Ms. Wu Qing, Chairman of Shenzhen Geheng Land Real Estate Assets Appraisal Consulting Co. Ltd., believed that the core values possessed by outstanding real estate appraisal companies in top-level policy research, projects management, negotiation consultancy, and many other areas, are the foundation for their cross-disciplinary integration and development. In the field of land redevelopment and other challenging projects, these companies can better play a coordinating and linking role.
The sub-forum was also attended by officials from housing and urban-rural development departments of Guangdong, Henan, Tianjin, etc. representatives of Hong Kong surveyors, as well as leaders and representatives from local real estate appraisal and engineering cost industry organizations, heads of real estate appraisal companies, and engineering cost consulting enterprises, with a total of over 270 participants.