It\u2019s easy \u2013 tempting even \u2013 to assume the steady stream of announcements pertaining to Chinese investment in Australia will continue. As speculation continues as to whether China\u2019s own internal property boom is on the wane, why shouldn\u2019t it instead focus on acquisitions in Australia\u2019s cities?<\/p>\n
It\u2019s easy to assume, yes, but dangerous too. A stable political climate and security of title are certainly advantages, but they alone aren\u2019t enough to ensure Chinese investment continues at such rates. Businesses in Australia need to evolve to reflect changing needs on the part of potential Chinese investors.<\/p>\n
In many ways, it\u2019s a two-way street. There\u2019s great opportunity for all parties to benefit from new ways of doing business, of forming partnerships based on mutual trust and understanding, where high-level guidance on the opportunities and big-picture plans in different regions are presented clearly, regularly, and honestly.<\/p>\n
I recently attended a function at ArchTam\u2019s Brisbane office, hosted by The Property Leaders Association. The event looked at the impact of foreign investment in Brisbane, a city that\u2019s been labelled “Australia\u2019s New World City,” and a city that will welcome everyone from U.S. President Barrack Obama to German Chancellor Angela Merkel during November\u2019s G20 summit.<\/p>\n
Industry leaders joined Chinese Consul-General Dr. Zhao Yongchen and Brisbane Lord Mayor Cr. Graham Quirk for a wide-ranging discussion that, among other things, explored what Brisbane has to do to continue developing as an attractive investment destination for Chinese property developers in particular.<\/p>\n
The idea of the city further strengthening its strong cultural identity was raised several times. Brisbane is and will remain an attractive investment destination because of its burgeoning reputation as a regional powerhouse in technology and innovation, mining and resources, tourism and higher education.<\/p>\n
In short, cities become attractive for investors when they play to their strengths or, to put it another way, when they don\u2019t try to be things they\u2019re not. The same can be said for businesses wanting to partner with potential Chinese investors; those that play to their strengths, without pretense, stand to form meaningful, productive and, ultimately, mutually-rewarding relationships.<\/p>\n
We could see that last month, when we held a breakfast briefing for developers in our Sydney office at which a colleague presented ArchTam\u2019s views on the potential development opportunities in and around Sydney resulting from Sydney\u2019s Draft Strategic Plan. This was attended by a number of Chinese investors.<\/p>\n
The type of open, two-way communication seen at these two recent events is something we\u2018ll see more of. This sort of partnering demonstrates both how Australia\u2019s property sector has evolved, and an acceptance that, in the Asian century, how Australia engages its neighbors in the Asia-Pacific in a business sense will make all the difference.<\/p>\n
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