Real Assets, Real People

In APREA's Real Assets, Real People, we talk to an influential leader in the real assets industry to gain insights on their experiences and strategies for success.

Our Deputy Chair for the APREA China Chapter shares how his experience in architectural design and urban planning sparked a passion for real estate, leading him to pursue a career in development, investment, and asset management. He also highlights key opportunities in
China's market, focusing on quality asset management and the integration of real estate with high-tech innovation.

What inspired you to pursue a career in the real assets industry?

I was an architect practicing architectural design and urban planning while I lived in Boston, MA, USA. My boss happened to be an architect cum developer, and was commanding a team to work on his huge land development project in Boston area, I was amazed to see a panorama view of real estate from land acquisition, planning & design, construction to asset management, my eyes were wide opened by this colorful & diversified real estate world, which lead me to pursue my career expanding into real estate development, investment and asset management.

What are the key opportunities that you see in the current real assets investment landscape?

Although the real estate industry in China has gone through a storm and undertaking a major paradigm shift at the moment, I still think there are opportunities in the market based on its capacity and consumption power, areas like quality asset management, opportunistic investment and C-REITs are directions that could create significant return if planned and executed at right timing and angle. Also I pay great attention to the combination area of real estate & hi-tech, not only the sophistication of science park or mixed-use asset but also the link between real estate and updated hi-tech development.

From a leader's perspective, how can companies navigate and thrive in an increasingly challenging business environment?

I would pay great attention to two aspects: business model and team quality. Companies shouldn’t be rigid and need to adept to the changes occurred in real world, stay hungry stay fool is the right attitude. Accompanied with the right business model we need quality team to plan & execute, and eventually make the success.

Can you share a notable success story or achievement in your journey as a leader?

Since 2014, as a real estate investment and asset management firm, we have been selected as Host Company with Harvard China Fund for their Harvard Greater China Student Internship Program, in the past 10 years, our team has been hosting Harvard College Students and let them experience modern China through their internship placements and gain an introduction to Chinese history and culture, all while practicing in the real estate workplace. We are proud to see our interns grow up, while still keeping the beautiful memories of the time we spent together.

What do you do for fun?

Travelling is my passion as well as reading and jogging, it’s always fun when you see the new world, talk (read) to new smart person, and same time keep your mind and body fresh to embrace a new day.

In APREA's Real Assets, Real People, we talk to an influential leader in the real assets industry to gain insights on their experiences and strategies for success.

Here's James Ong, Chief Strategy Officer of Tsao Pao Chee. 

What were you doing before you started your career in real estate/infrastructure?

I started my career in private banking in 2003 but quickly realised sales wasn't my passion. This led me to transition into investment banking, focusing on M&A deals and project financing. In 2006, I helped establish the Asian arm of Oppenheimer Investments, gaining extensive experience in project financing within the real estate and infrastructure sectors. Over the next decade, I honed my skills in executing M&A deals as an in-house corporate finance professional. At TPC, I initially focused on M&A, successfully applying my previous experience. My career has evolved over the past 20 years from private banking to a deep specialisation in investment banking, culminating in my current role as Chief Strategy Officer at TPC. This diverse background has provided me with a unique perspective and a robust skill set for our strategic initiatives.

What inspired you to pursue a career in the real assets industry?

My interest in real assets was sparked when I was managing warehousing assets for the largest privately held logistics operator in Southeast Asia. I found the process fascinating as it involved developing something from the ground up and putting it into operation. Seeing actual goods and products flowing through the system, and knowing that these are items we use in our daily lives, was incredibly satisfying and motivating. 

What is a typical day for you?

My day typically starts at around 6:15 AM when I get up to send my three kids to school. If time permits, I enjoy going for a short run around the Botanic Gardens before heading to work. My workday is usually filled with meetings, and in the evenings, I often attend networking events, usually about two to three times a week.

What are the key opportunities that you see in the current real assets investment landscape?

At TPC, Japan has been a key focus market for the past year and a half, and it will continue to be. We see unique opportunities in the market but are aware that the window of opportunity may be narrowing. Besides direct investments in Japan, we are also exploring more deals involving real estate structured products. These products offer an additional level of security with attractive coupon rates.

From a leader's perspective, how can companies navigate and thrive in an increasingly challenging business environment?

I believe that elevating the consciousness of our people can make a significant difference in how we work and live. As Albert Einstein once said, "No problem can be solved from the same level of consciousness that created it. You must learn to see the world anew." At TPC, we run programmes aimed at raising the consciousness level of our employees, which we believe will help us usher in and navigate the new era of purpose-led business.

In APREA's Real Assets, Real People, we talk to an influential leader in the real assets industry to gain insights on their experiences and strategies for success.

Here's David Tibbott, Managing Director of IOI Properties Singapore. 

 What were you doing before you started your career in real estate/infrastructure?

I was a professional rugby player in the UK and studying at the University of Cambridge at the same time. It was a challenge balancing academics and athletic commitments, but that didn’t stop me from graduating with a Master’s degree in Real Estate Finance.

Who inspired you to pursue a career in the real assets industry?

My father. He owned a real estate consultancy firm that provided advice to businesses on large scale developments and tourism initiatives across Europe. It was an obvious decision to transition from professional sport into the dynamic landscape of real estate.

What is a typical day for you?

My day varies significantly, interacting with my leasing team, the marketing agency community and both prospect and committed tenants. I’ll also work with our property management team as we have been commissioning the building for public and tenant use, as well as handing over to tenants to commence fitout. There are also other HR and corporate interactions on a daily basis, as well as exploring opportunities for the business as and when they arise.

What do you do for fun?

Anything sports related since it has been a huge part of my life. Skiing, cycling, tennis and swimming are my go-to activities these days since I’m too old for contact sports like rugby. I have a young family now, so my wife and I try to engage our kids with sport as much as possible.

What lesson or advice can you share with fellow members in APREA?

I have been fortunate enough to gain a breadth of experience and insight across a variety of companies throughout Asia (Hong Kong, Guangzhou, Bangkok, Phnom Penh, Singapore, Jakarta & Hanoi). They are all very culturally different but making the effort to develop and maintain good personal relationships is one key advice I could give. The world of real estate is small and it is a people business.

In APREA's Real Assets, Real People, we talk to an influential leader in the real assets industry to gain insights on their experiences and strategies for success.

Here's Clement Chen, CEO of Sunway REIT. Sunway REIT is one of the largest diversified REITs in Malaysia, with a diverse portfolio strategically located across award-winning integrated townships in key locations in Greater Kuala Lumpur, Penang, and Perak.

What were you doing before you started your career in real estate/infrastructure? 

Trained as an accountant, I started my career in 2004 as a Finance Trainee with Sunway Berhad, a Malaysian conglomerate, with my last role there being the Head of Corporate Finance. During my tenure in Corporate Finance, I participated in the listings of Sunway Bhd, Sunway Construction Group Bhd and Sunway REIT which collectively have a market capitalisation of more than US$5 billion today.  I moved into real estate in 2016 and became the Head of  Business Development at Sunway Property where we evaluated opportunities in Malaysia, Singapore, Australia and UK and acquired landbank with potential GDV of over US$3 billion. Last year, I formally took on my current role as CEO of Sunway REIT, a diversified Malaysian REIT with assets under management of over US$2 billion.

What inspired you to pursue a career in the real assets industry?

Since young, I have always been fascinated by iconic real estate and their role in bringing people together. From ancient buildings like Colosseum which acted as entertainment arenas to modern day megamalls acting as gathering places for friends and families, societies have evolved the shape and function of properties but buildings remain crucial avenues for societal bonds. In addition, around the office I work at, I have also witnessed how a township has been developed over 20 years becoming an area where people truly live, work, play and heal together. I am therefore excited to see the next stage of how real estate evolve and concepts like co-living or co-working are greatly intriguing.

What are the key opportunities that you see in the current real assets investment landscape?

Megatrends like emergence of Artificial Intelligence and growth of e-commerce spell great opportunities for data centers and logistic warehouses. The growth of the latter sector will probably come at the expense of retail although I believe neighbourhood retail continues to have significant roles to play. The high cost of living beleaguering many countries will also eventually lead to an even greater demand for rental housing or products like co-living and co-working whose progress was somewhat set back by the pandemic but may rebound as the sharing economy is definitely aligned to the green conscious society we have today.

From a leader's perspective, how can companies navigate and thrive in an increasingly challenging business environment?

Companies need to be nimble and flexible. Due to the velocity of changes in the business environment today, execution plans may be subject to constant revisions. By having flatter organisation structures coupled with accountable empowerment, an organisation will have better chance at tackling the changes more effectively. Having said that, it’s incumbent for leaders to articulate what is the true north of the organisation to ensure  it does not deviate from its ultimate vision and objectives. We may take a different route but the ultimate destination remains.  

Can you share a notable success story or achievement in your journey as a leader?

I am a firm believer that a team, through collective intelligence, makes better decisions and creates better outcomes than as individuals. As a leader, my utmost role is therefore to create a safe and conducive environment for the team where they will feel engaged and empowered to contribute towards the company’s goals. To this extent, I am pleased that during my relatively short tenure in the organisation, the engagement score of my organisation’s employees have already demonstrated a considerable increase. By communicating clear goals and roles, empowering the team on decision making and providing appropriate motivation, trust can be built and the full synergy of the team can be harnessed.