HONG KONG–(BUSINESS WIRE)–Over 300 property industry professionals and business leaders unveiled
the investment potentials of ageing population at the Royal
Institution of Chartered Surveyors (RICS)’s Hong Kong Annual
Conference today (20 May) at the Grand Hyatt Hong Kong.
Hong Kong’s population displays a continuous ageing trend. One out of
every three Hong Kong citizens will be aged 65 or above within the next
20 years. Business opportunities from this increasing silver hair class
is huge but yet to be unlocked. RICS gathered local and overseas experts
to deliberate mature market experience and identify potentials from this
At his keynote speech, The Secretary for Labour and Welfare, Matthew
CHEUNG Kin-chung, GBS, JP, mentioned, “As our ageing population will
continue to grow over the next 50 years, this will inevitably create
challenges in areas of healthcare, social welfare, elderly care services
and housing needs. Yet, along with the healthier, better connected and
better educated modern-day elderly come new economic and social
opportunities. The Government is committed to making Hong Kong more
age-friendly through a multi-pronged approach, while concerted efforts
are needed to unlock the immense potential of a growing and relatively
untapped silver hair market.”
The conference provided a critical review of the emerging silver hair
market and an analysis of the business and investment potential that the
market could offer Hong Kong. Speakers from Asia and abroad presented
examples of countries that have previously experienced a similar
population shift. The successful case studies are expected to help
public and private sector entities in Hong Kong to prepare for required
expansion and fluctuation in infrastructure, public services and
Sharing Japan’s experience as the most mature silver market in the
world, Mr Masatoshi Matsuo, President & CEO, Genkai Capital
Management Co., Ltd said, “Japan’s elderly population ratio is high.
Silver hair market has been developed for years covering areas of
nursing homes, medical facilities and also investment-related markets
such as health care funds and REITs in elderly housing. These are all
popular sectors for investors. Investment capital is driving force for
sustainable development of the silver hair market. Asian countries can
take reference from cases in Japan with regard to silver hair market
Dr Charles LAM, Managing Director, Real Estate at Baring Private
Equity Asia, revealed that, “Hong Kong faces rising demand for
elderly housing. The provision of elderly houses on one hand secures
investment return and fulfils social responsibility on the other hand.
The success of private sector participation in the silver hair market
such as the investment returns focus will definitely need the support
from the Government and a sound working relationship with the non-profit
organizations, with specific design of the product as well as the
creation of a new elderly community. Investment returns and corporate
social responsibility on developing the Hong Kong silver hair market can
Mr Andrew Lee FRICS, Chair of RICS Hong Kong Board said, “Silver
hair market has tremendous development potential in Hong Kong. Today,
RICS brought together industry experts from across the world to discuss
the opportunities and challenges in silver hair market. Experts from
overseas were invited to share their expertise and show cases, from
which Hong Kong can take reference in the future. ”
To engage next generation workforce, RICS hosted a career advice session
at the Conference with participation from over 40 university students.
The session provides a platform for students to interact with
practitioners and prepare them for future career.
Confidence through Professional Standards
RICS promotes and enforces the highest professional qualifications and
standards in the development and management of land, real estate,
construction and infrastructure. Our name promises the consistent
delivery of standards – bringing confidence to the markets we serve.
We accredit 118,000 professionals and any individual or firm registered
with RICS is subject to our quality assurance. Their expertise covers
property, asset valuation, real estate management; the development of
infrastructure; and the management of natural resources, such as mining,
farms and woodland. From environmental assessments and building controls
to negotiating land rights in an emerging economy; if our members are
involved the same professional standards and ethics apply.
We believe that standards underpin effective markets. With up to seventy
per cent of the world’s wealth bound up in land and real estate, our
sector is vital to economic development, helping to support stable,
sustainable investment and growth around the globe.
With offices covering the major political and financial centres of the
world, our market presence means we are ideally placed to influence
policy and embed professional standards. We work at a cross-governmental
level, delivering international standards that will support a safe and
vibrant marketplace in land, real estate, construction and
infrastructure, for the benefit of all.
We are proud of our reputation and work hard to protect it, so clients
who work with an RICS professional can have confidence in the quality
and ethics of the services they receive.
About RICS Asia
RICS Asia supports a network of over 20,000 individual professionals
across the Asia region with an objective to help develop the land,
property and construction markets in these countries, by introducing
professional standards, best practice education and training. We promote
RICS and our members as the natural advisors on all property matters. We
also ensure that services and career development opportunities are
provided to members.
RICS Asia region serves local member associations locating in Brunei,
Japan, Malaysia, Singapore, Thailand, The People’s Republic of China,
Hong Kong SAR, Taiwan and South Korea. It also has members working
across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia,
Indonesia, Kiribati, Laos PDR, Macao SAR, Mongolia, Nepal, North Korea,
The Maldives, The Philippines, Timor East and Vietnam. For more
information, please visit: www.ricsasia.org.