A deepening slowdown in China’s property sector has triggered fears over a domino effect on the region’s construction industry, but there are some Asian builders who remain optimistic.
“There is a belief that if China slows down, the whole region will [follow suit] but I think that may not be the case,” Jonathan Stein, managing partner of Chicago-based architectural and engineering firm S.O.M told CNBC’s “Managing Asia” as part of the special series “Asia Builders.” “[The slowdown] is creating a lot of desire among the Chinese to export themselves into foreign markets so they’re getting more aggressive in the region which in many ways is good,” Stein added.
S.O.M is not alone in sharing that optimism. Thai property developer Pace Development told CNBC that the firm has benefited from lower costs of construction materials from China as mainland suppliers seek to gain a foothold in regional markets.
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