Geography Reference
In-Depth Information
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Figure 5.1
Selling the Palisades: marketing downtown Vancouver condominiums in Hong Kong, 1996
(Photo by Ian Smith, reproduced by permission of the
Vancouver Sun
)
was flowing back to Vancouver. Hong Kong sales of Vancouver downtown
condominiums were moving smartly (Figure 5.1). Armed by photographs, a
scale model and other marketing materials, Colliers' Hong Kong office had
recently sold 90 units of the Kuok Group's luxury Residences on Georgia in
two weekend sales events; also popular was a new building inYaletown on the
edge of the central business district by Bosa Brothers, a Vancouver developer,
with 70 percent of the units sold in Hong Kong, while the most recent
Concord Pacific condominium tower had sold out in Hong Kong after a slow
launch in Vancouver (Chow 1996a).
By the mid-1990s, Asian property investment in Canada was close to its
peak. But the Asian financial crisis that broke in the final quarter of 1997
led to another round of capital switching. Just as Japanese capital had been
