Far East Consortium to reinvent itself as regional player to maximise investment opportunities

Far East Consortium International is reinventing itself into a regional player so it can maximise investment opportunities by taking advantage of different property cycles in different markets, says managing director Chris Hoong Cheong Thard.

"Location and timing are equally important for a successful property investment," Hoong said. "It will give us less flexibility in capturing upside potential if we just focus on a single market."

He said some developers in China had been forced to join the bidding wars to acquire development sites at unbelievably high prices as China was their only investment market.

The business model of Far East Consortium is likened to CapitaLand, which built up a land bank in different markets.

"We have extended our reach to London, beyond our established footprint in Hong Kong, Australia, Malaysia, Singapore, Shanghai and Guangzhou," Hoong said.

"We will have more acquisition opportunities and this strategy has resulted in a relatively low land-cost base."

In July, the medium-sized developer teamed up with Chow Tai Fook Enterprises and Australian casino operator Echo Entertainment Group to win the contract to develop a mixed-use mega development in Australia's Queensland state with an estimated investment of A$2 billion (HK$10.87 billion).