Hot Property @ Brookes: MSc Real Estate in China

Following the field trip to Athens in May 2024, the MSc Real Estate students went on another field trip in June 2024 - this time to China. The MSc Real Estate students travelled to China to study three of the four tier 1 cities in China, namely, Shanghai, Guangzhou and Shenzhen. Thanks to Albert Cao (Senior Lecturer in Valuation at Oxford Brookes) for the reports and the photos.

The field trip started in Shanghai, a provincial level city with 25 million people and the head city of the 240 million people Yangtze River Delta. Shanghai was the Paris of the East in the 1920s and 1930s, and is now the 4th city in terms of importance and international significance in the world. It has the 4th largest Stock Exchange, 3rd largest microchip maker, and the 2nd tallest building in the world. The students visited the historical past of Shanghai inspecting many buildings that are Grade 1 listed equivalent. They examined the huge new central business district (CBD) at the east of River Huangpu where most of the buildings were built after year 2000, and the famous East Nanjing Road pedestrianised shopping street. At the head office of Cushman and Wakefield, they listened to presentations from local experts, had a very dynamic discussion with them and took a picture together afterwards. At the end of the day, they toured the retail area along West Nanjing Road, both traditional and modern, trying wonderful local cuisine and shopping.

Exploring the historic area of Shanghai

The central business district

At Cushman & Wakefield

Exploring the local cuisine

The next day (still in Shanghai) the students visited JLL's Shanghai HQ and had a walking tour to see JLL's management operations. The presentation by JLL's research team was followed by heated discussion, gift presentation and socialising of all participants. Shanghai has become a major production centre for electric vehicles and students inspected car showrooms that are a new normal in shopping malls, and new initiatives by local retailers on experiential shopping. The students had a walking tour of Shanghai's main squares and political institutions, studying urban plans of Shanghai and visiting housing developments in a conservation area. And finally, the students had an impressive river cruise that covers the best of Shanghai’s office developments at both sides of River Huangpu.

At the JLL HQ in Shanghai

Electric cars in the shopping mall

Visiting new housing developments at Huaihai Road

Visiting the Shanghai urban plans

Day 3 in Shanghai was as rewarding and busy as the previous two days. The students visited the 1000 Trees, a brand new shopping mall with innovative design and tenant mix. The mall was designed by a British Architect, Thomas Heatherwick. They then visited a top branch of Lianjia, China's biggest residential agency, and had a discussion on Shanghai's residential property market and the comparison of British and Chinese practices in residential markets. In the afternoon the students toured the outskirts of Shanghai and visited a conserved historical town that has become a popular tourist destination.

1000 Trees shopping mall

The trees are individually planted and elevated

Discussions at Lianjia, China's biggest residential agency

Qibao - the restored historic water town

Day 4 in Shanghai and it was very wet. The students tried to have a walk and view Shanghai's central business district from the 118th floor of Shanghai Tower, but there was rain in the morning and the two tallest towers that are over 100 storeys were hidden in the cloud. They climbed to the 52nd floor of Shanghai Tower and studied the buildings and transport network on both sides of the River Huangpu. The weather was not good so they had a tour of other central parts of Shanghai in cars. The four days in Shanghai were packed with studies of the City’s political, economic, social, technological and environmental factors that affect real estate investment. Shanghai has the world’s 2nd longest metro, just 10km shorter than that of Beijing’s, which provided convenient and fast mobility. After flying 1,300km they saw the sunset in mid-air before they arrived in Guangzhou at 8pm.

Rain and mist in Shanghai

Tour of Shanghai by car

Sunset in Guangzhou

After arriving in Guangzhou, the provincial capital city of Guangdong with 18 million residents, the students attended a three hour presentation at Savills Guangzhou led by Mr Carlby Xie, a 2005 graduate of the MSc Real Estate of the Oxford Brookes University. The presentation covered China's real estate market as a whole, and Guangzhou, Shenzhen and the Great Bay Area in particular. After lunch in the massive restaurant mall underneath the two super skyscrapers, they went to Guangzhou's iconic Canton Tower, where they viewed the 112 storey Chow Tai Fook Financial, the 103 storey International Financial Centre and the 80 story Citic Tower in the CBD as well as a second CBD anchored on the Pazhou Convention and Exhibition Centre. From the viewing platform, the whole city was clearly seen, including city centre residential developments and hills in the background. In the evening, students observed the retail and entertainment activities in the CBD.

Presentation at Savills from/to Carlby Xie, a 2005 graduate of the MSc Real Estate

Views of Guangzhou CBD from the 88th floor of the Canton Tower

The Pazhou CDB next to the Pazhou Convention and Exhibition Centre

City centre residential development

The next day, the students conducted a tour of historical and cultural sites in Guangzhou, including a museum built on the site of a 2,200 old royal palace and made further visits to retail in the old part of the city. Beijing Road was the traditional main high street of the city since 1,300 years ago, with hundreds of traditional shops and several major modern shopping centres, where electric car showrooms are found. The students visited the 1888 Shishi Sacred Heart Cathedral in the traditional city centre that is also a traditional retail area but with new retail developments. The old British and French Concessions are also in the traditional city centre, with new developments across the river. The older part of Guangzhou has now been conserved with subsidised refurbishment to promote tourism.

The oldest pedestrianised street in Guangzhou

A church built in 1877 in downtown Giangzhou

A refurbished district of Guangzhou

The students took a day trip to Shenzhen, starting with a trip on China's famous high-speed train, which reached 'bullet' speed at 306 km/h and a 20 pence coin stood over 4 minutes (on its edge) without falling. The city was established in 1979 with population at 5,000 and now has 18 million residents. The students inspected the city's top shopping mall MixC, which can be found providing high-end shopping in all major cities in the country, and its residential properties in the second CBD. In the Civic Square of the current and top CBD, the students witnessed the performance of a roller skating team in the burning sun. The students went to the 115th floor viewing platform of Pingan Tower and examined Shenzhen's real estate development chronologically and temporally. Hong Kong’s northern part, mainly rural, can be seen and sites for tech incubation were found. Shenzhen is still building its fourth CBD at Qianhai. Finally, the students visited the third CBD of the city and admired its shinning office buildings in the sun before taking a half-hour high-speed train journey to travel 140 km to return to Guangzhou.

Inside the high speed bullet train

Shenzhen's MixC shopping mall

The civic square in Shenzhen's CBD with Pingan Tower in the background

The view from Pingam Tower (115th floor)

The final day of the field trip and the students were given the day to explore Guangzhou's traditional pedestrianised shopping street. In Nansha, a district designated as the Free Trade Zone, they saw the new cruise terminal and a robot playing a traditional Chinese musical instrument in the car tech exhibition centre. The students saw the political institutions of Guangzhou, and several large malls. Guangzhou's famous river cruise shows another view of the city and the best urban centre design in China, if not in the world. At the end of the day, students have had first-hand knowledge of the political, economic, social, technological and environmental aspects of the Greater Bay Area (Pearl River Delta) inhabited by 86 million people, and are ready to assess of investment potential of commercial and residential properties in Shanghai, Guangzhou and Shenzhen.