Monthly Update: June 2012

Market News

Interest rates were cut in China last month for the first time since 2008 causing the stocks of mainland developers to rise on expectations that it will help reduce their debt servicing costs. There is hope that the move will help a faltering property market.

In Hong Kong, some analysts are predicting that high-end residential rents could fall with some landlords currently discounting their asking prices by as much as 20%! This is on the back of financial institutions holding on their expansion plans and reducing the housing allowances on offer to their staff.

Sentiment in the Shanghai property market seems to be warming as agents there report an increase in the number of transactions and sales following a lean period from October 2011 until the Lunar New Year. Analysts can see signs of a rebound but are cautious in calling things a full recovery. Developers in China are reporting an uplift in sales revenue month-on-month between April and May and on into June. Sentiment generally seems to be improving somewhat which is welcome news after a few months of negative press reports.

Poll Result

In June we asked our readers to vote for the countries in Asia which they felt had the most growth potential over the next 10 years for the Property & Construction industry. The results are below.

A third of all votes were for China. This matches the long term sentiment that our clients/candidates seem to have for the growth prospects in China even if there is a slight slow down in the coming couple of years. Next up was Indonesia – again, this matches what a number of people in the industry think and more and more firms are looking at a strategy to develop their businesses in the Indonesia market. Following Indonesia was India – over the last year we have found sentiment has cooled a bit in the India market with firms a little more cautious on how things will develop long term. The fact there is a population similar to China but less of a focus by companies to be in this market suggests that the India market is not yet ready to boom in the same way. Vietnam and Malaysia were next – we were a little surprised Malaysia wasn’t somewhat higher up with a number of our clients announcing work/projects in the country. Similarly Vietnam seems to have slowed a little in the last year but there still seems to be some positive sentiment for future growth here.

What’s Hot

In June we received many new roles and requirements, particularly from our growing developer client base in China.

On the sales, leasing and business development side, there is strong demand for experienced retail candidates in a number of second and third tier cities. These are positions with top tier international developers who are expanding their retail presences in China and continue to plan to do so. We have roles ranging from Commercial Director down to Assistant Sales Manager with many top names.

We have also secured some exclusive and senior level mandates with some prestigious Chinese growing developers – these are for Project Director level type people who can help these developers construct new high-end projects and make use of their extensive land banks. We are dealing directly with the senior level family members in a number of these organisations and can offer genuinely exciting and interesting career opportunities for Senior Project Managers. Our needs for PM’s at all levels remains both in Hong Kong and China with our clients continuing to take on experienced staff for their projects.

On the design side we have secured some senior level roles with international firms in China – these are currently at early interview stage but will be key appointments for our clients as they look to bolster their presence in China. Roles exist for architects at all levels also in Shanghai and Shenzhen. On the interiors front we have needs for good hotel and corporate candidates in Hong Kong and China. Some of these are to establish and develop newer teams whilst some are with already established design names. Strong all-round designers are preferred – those who know how to generate concepts but also ultimately get them built. We also need good landscape architects in Hong Kong and China along with urban designers for a number of our clients. Again, we have extremely strong client relationships and can offer genuine introductions to key decision makers – we do not just fire out CVs and hope!

Most Urgent Requirements

We have outlined below the urgent vacancies we have had through from clients over the last month.

  • Commercial Director – Guangzhou – A leading role on a Luxury Mixed Use Development
  • General Manager of Mall Leading and Operations – Growing Top International Developer
  • Senior Retail Interior Designer – work on two new landmark schemes in Hong Kong
  • Team Leader/Quantity Surveyor – Senior role with a reputable China developer in Guangzhou
  • Project Director – Top China developer for a Hotel and Retail Development in Guangzhou
  • Landscape Architect – small, growing firm in Shanghai
  • Interior Design Manager – Exclusive role with a top China developer
  • Landscape Architect – Looking for a Project Runner to work with an award winning design firm in Hong Kong
  • Senior Interior Designers – Retail and Hotels – Hong Kong and China – we still need more people here! China experience and language will be important
  • Project Managers – anyone willing to be stationed in China on some truly epic projects!

We also have many, many more roles posted on our website and these are only an overview of our top positions at this time. Please check back regularly. The easiest way to stay up to date with our latest positions is to follow us on Twitter.

Please visit our website for more information on the above roles and our other vacancies:

http://www.ellicottlong.com/current-jobs.

If you wish to inquire about a position please send an email and your CV to apply@ellicottlong.com.

Follow us on Twitter here: www.twitter.com/ellicottlong. Please also subscribe to our blog by filling in the email subscription form on the right to stay up to date with our latest posts, updates and information.

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