Real Estate Association Study Tour: Final Thoughts

Our final day abroad was spent traveling to Hong Kong, experiencing the process of passing through immigration from mainland China to Hong Kong Island. We learned that due to political limitations, there is a daily cap of residents of mainland China who are able to visit Hong Kong in any given day.

Our planned company visits were complete and we had a full day on Saturday to explore Hong Kong. The island was not as I expected it. Previously, I saw photos of the International Finance Center, a sky scraper housing restaurants, a mall, the logistics and baggage transfer portion of Hong Kong airport and large firms in its tower. I extended this image to the rest of Hong Kong and imagined it as an island covered in large, marble office towers housing retailers of luxury goods.

Instead I explored the narrow, hilly streets lined with everything from local fare to high-end fashion designers and artisans’ boutiques.  We visited the Police Married Quarters (PMQ) which is an adaptive reuse project consisting of two buildings formerly used as police barracks that have been transformed into a unique shopping mall housing local and international artisans and their trendy wares. The phrase “hipster central” would be an appropriate descriptor of this mall.

The city has rich character. Unfortunately, we only visited for one short day and were unable to see even a fraction of the sights available to us. Unlike during the previous days, we used Saturday to explore the city in small groups, deepening our conversations with one another and really coming together as a group.

As I reflect on this past week during my 16-hour plane ride home, the following thoughts come to mind:

  1. I’m grateful for the opportunity to witness China develop as a nation. I’m curious to see if this government-initiated (almost forced) growth and expansion will propel Guangzhou and Shenzhen into sustainable growth or if it will create the next ghost cities due to oversupply of office buildings.
  2. What is the future of public transportation expansion in Singapore and China as this is the one feature critical to upholding future real estate development?
  3. Will China ever place a moratorium on the number of massage parlors present?

 

Nicole Atoyan ‘17

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