‘No need to be concerned’ about Hong Kong property market as long as city plays to strengths, JLL global CEO says
- ‘It’s overall a pretty outstanding location, and pretty outstanding locations will be successful,’ Christian Ulbrich says
- Hong Kong’s connection with mainland China and superior infrastructure mean the property market will overcome its short-term issues, he says
Despite losing some of its marks of status as a world-leading property market, Hong Kong retains many advantages upon which it should capitalise to find its niche in a rapidly changing world, according to the global head of real estate services firm JLL.
However, even after four challenging years of social unrest, pandemic restrictions and intensifying geopolitical tensions, Hong Kong should not doubt its attractiveness as a top financial hub, said Christian Ulbrich, CEO and president of Chicago-based JLL.
“There’s no need to be concerned,” he said. “It’s a question of how you can play to your strengths going forward. And therefore I wouldn’t even make that comparison whether it is still the number one capital for luxury goods or whether it’s the number one capital for this or that. It’s overall a pretty outstanding location, and pretty outstanding locations will be successful.”
In town as part of an Asia-Pacific tour including visits to Singapore and Australia, Ulbrich said his first visit to Hong Kong since 2020 has reminded him of the quality of the infrastructure, the amount of capital and the high level of talent available here.