Real estate investing in Asia has traditionally revolved around the economic giants of China and India. Most international investors have steered away from the Southeast Asian region — the emerging markets of Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam, as well as the developed market of Singapore — as a result of its diversity, lack of transparency and perceived higher risks. Our view is that this is a region that investors cannot afford to overlook.

In 2009, China surpassed the United States as the largest consumer of energy in the world. Rapid economic growth has caused China’s energy consumption to increase dramatically, and the country is now faced with the challenge of balancing an expanding economy with energy security, pricing, emissions and a declining fossil fuel supply. Meanwhile, the Chinese government is paying more attention to energy efficiency and is tightening regulations on the building sector.

Daily reports of downgrades and rumors of defaults in Europe all bring to mind the frightening fall of the global financial system that began three years ago with the collapse of Lehman Bros. on 15 September 2008. It feels like a “slasher” movie sequel — with an intensely scary set-up, an early victim or two, all ending in a bloody mess. This is a film we have seen before and don’t want to see again.