Nicholas Loup of Grosvenor says Hong Kong is strategically placed and competitively astute for developing business in the region

"Now that our business focus is in Hong Kong, the Chinese mainland and Japan - essentially north Asia - it is the obvious place for us to be based," he said.

Mr Loup notes that Hong Kong is the ideal starting point for involvement in the Chinese economy and property market. "There is a wealth of knowledge in Hong Kong about business in China," he said.

"With the hinterland of the Pearl River Delta, we feel confident about Hong Kong's future within China and certainly welcome integration. Given that, over the long term, we see China as a significant force in both Asia and the world, Hong Kong is an ideal starting point.

"We now feel we've got a very good platform for building up our business in Hong Kong and China through the ventures and relationships that we've established. Certainly, we also think it also is a good time to be investing in Hong Kong."

While Mr Loup cited Hong Kong's international nature, free market and legal system as enduring attractions, he also pinpointed the SAR's increasing business competitiveness and strategic location.
 
"After this unusually long and difficult period in the economy, in the property market there are historically low, affordable price levels," he said. "Generally, through this deflation Hong Kong is now a very competitive business environment for anyone.

"Although it's been a painful process, this has reinforced Hong Kong's position as a regional hub and, in particular, as a very convenient access point for north Asia. Given that most foreign direct investment is targeting north Asia - in particular China - Hong Kong really is very well placed."

The company's investment activities in Hong Kong are largely residential, focusing on key Hong Kong Island locations such as the Peak, Mid-Levels and the South Side. In 2003, Grosvenor will launch its first luxury residential development, a co-investment scheme in Repulse Bay.

"This will be the first luxury residential development with which we've had an active involvement," Mr Loup noted. "We're looking to this to be the first of a number of projects that we do together with Asia Standard in Hong Kong, and then in the mainland."

Related links:
Grosvenor www.grosvenor.com
Asia Standard www.asiastandard.com