SINGAPORE (Sept 10): A 2,000-unit condominium, such as the upcoming Treasure at Tampines, would be considered a large project by Singapore standards. But it would be no match for a typical residential development in China, APAC Realty CEO Jack Chua muses. “Their scale is hard for us to imagine. Forget 2,000 units, they talk about 20,000 units in a development, launched in phases,” he says at a recent briefing.

It is perhaps of little surprise then that Chua is now taking his business to China, using the balmy island of Hainan as his test bed. On Aug 29, APAC Realty announced it had entered into a joint venture with Chinese real estate services provider Hainan Zhong Zhi Sheng He Real Estate Investment Consulting and asset manager Bei Guo Tou (Shanghai) Equity Investment and Fund Management, to conduct brokerage and real estate businesses in the province. For an additional income stream, the JV will also establish training and licensing programmes for real estate agents in Hainan.

In addition, the resale market in Hainan is relatively young, as property agents tend to focus on selling new projects. This means APAC Realty, with years of experience in handling resale transactions, can bring its expertise to the JV and help grow this segment of the market as it matures, says Chua.

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