Property management gaining momentum

Slowing offtake and tightening policies prompt real estate firms to consider new growth avenues

Real estate developers from China are shifting their focus to property management, which is tipped to reach a market size of 1 trillion yuan ($141.9 billion) in five to 10 years, even as low sales, crimped financing options and tightening policies continue to plague the sector, industry experts said.

"We see property management as a blue economy with market value in excess of 1 trillion yuan in the next five to 10 years and we expect over 100 companies in the sector to be listed in the coming decade," said Ye Mingjie, vice-president of Shimao Group, a diversified real estate company.