China is home to a rather strange phenomenon known as ghost cities – cities built for a population that never came. All of the infrastructure, roads, hospitals and apartments are in place but lie vacant, proving that just because a city is built, it doesn’t necessarily mean people will live there.
When planning these metropolises, the local government lacked a viable economic model. The people that were expected to move in didn’t have the means. Had the government drawn on advice from experienced consultancy firms who rely on the expertise of architects, a prosperous community could have come to fruition instead of these empty cities.
However, the idea of merging the architecture realm with that of the consultancy arena is relatively novel. But it’s one that makes good sense. And nobody knows that better than Hong Kong architectural firm WCWP International Limited’s Executive Director, Clement Chu.
“We ventured into this new area between architecture and accounting, which we call a strategic merger and acquisition because a lot of investors are coming from China, looking for opportunities in Hong Kong,” Clement explains. “But they don’t know how to start development projects here – they’re looking for a one-stop-shop. Before our joint venture with Deloitte, we couldn’t give them this advice. But now we’re able to.”
This story is from the August 2020 edition of The CEO Magazine Asia.
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This story is from the August 2020 edition of The CEO Magazine Asia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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