Globalisation and the Growth of Hong Kong real estate firms
||Zhang, Xing; Sim Loo; Zhu Jieming
||Globalisation and the Growth of Hong Kong real estate firms
||10th European Real Estate Society Conference (10-13 June 2003) Helsinki, Finland
||This paper is on the growth of Hong Kong real estate firms and internationalisation process. It is based on a study by the authors on the impact of globalisation on real estate industry in Singapore and Major Cities in China. The paper uses the OLI framework to explain the factors which affect Hong Kong firmsí FDI patterns and strategies/behavior. It reveals that internationalisation process of firms in the Hong Kong case is almost irrelevant to the firm size and capital. While market potential, firmsí knowledge-based advantages, and culture play a very important role in firmsí location choice of their investment. Internalisation is not important for the case of Hong Kong real estate firms. The growth of foreign real estate firms in Hong Kong depends on the timely repositioning of investment into areas where they can sustain their ownership and locational advantages. Timing and bargaining position with host country/regions are also key factors for Hong Kong firms to outperform other competitors.
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||Session 2, Management Issues in the Real Estate Industry
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