News roundup: Interview with UOL Group Chief Executive, and other headlines

Image from PropertyGuru

For PropertyGuru’s news roundup, an interview with UOL Group Chief Executive Liam Wee Sin. In other headlines, cheap mini-electric vehicles are taking off in China’s provincial cities and towns, and how a Chinese drama is boosting tourism for Shanghai’s hot spots.

UOL Group Chief Executive Liam Wee Sin discusses luxury trends and consumer shifts

Singapore’s luxury residential market has proven to be remarkably resilient despite global headwinds, with new developments poised to continue appealing to long-term investors attracted to strong market fundamentals. Nevertheless, developers must constantly innovate to stay ahead of market trends and consumer demands.

UOL Group’s recent achievements in this regard are proof that having a visionary approach pays off. Watten House, their recent luxury development featuring spacious low-density units in the prime Bukit Timah neighbourhood, won Best Luxury Condo Development, Best Luxury Condo Architectural Design, and Best Luxury Condo Landscape Design at the PropertyGuru Asia Property Awards (Singapore) 2023.

In this interview with PropertyGuru Singapore, Chief Executive Liam Wee Sin delves into Watten Houses’ success factors, shares key insights into the luxury residential sector, and gives us a sneak preview of the Group’s upcoming luxury projects.

How cheap mini-electric vehicles took off in China’s smaller, poorer cities

Tiny electric cars weave through traffic in southern China, their cheap and cheerful designs bringing a touch of colour to the electric vehicle (EV) revolution in the country’s overlooked cities.

China is the world’s largest market for EVs, with premium models by Tesla and homegrown giant BYD a common sight in the nation’s affluent megacities.

But in a growing number of less-developed areas, the face of greener transport is the Wuling Hongguang Mini — a dinky two-door runaround that sells for a fraction of the price. China’s most popular EV to date, it has sold more than 1.2 million units, often to consumers with lower incomes in provincial cities and smaller towns.

China views new-energy vehicles as a critical emerging industry and has ramped up state support as it seeks to make its economy more self-sufficient and based on high-end manufacturing, according to HKFP. The sector is also an important component of Beijing’s pledge to bring emissions of planet-warming carbon dioxide to a peak by 2030 and reduce them to net zero by 2060.

Film fans help fill Shanghai hot spots

Inspired by the hit Chinese TV series Blossoms Shanghai, Spring Tour Travel Agency debuted its first Blossoms Shanghai Citywalk Tour along Zhongshan East Road on Jan 14. The service can accommodate up to 18 people, most or all of whom are avid fans of the show.

Priced at CNY69 (USD9.6), the tour is co-curated by the travel agency and guide Zhou Jun. As a native Shanghainese born in 1987, Zhou was deeply impressed by the TV series.

Not only do followers of Zhou’s tour group get drawn in by the TV drama’s plot, but the city’s tourism sector is also greatly influenced by Blossoms Shanghai. “The TV series has breathed new life into Huanghe Road, rejuvenating the catering industry and contributing to the tourism sector in Shanghai,” Zhou said in a China Daily report.

The Property Report editors wrote this article. For more information, email: [email protected].