Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Jacob has 7 years of professional buy-side experience in real estate investment and listed equities.  Jacob worked as a portfolio manager/analyst in Global Listed Real Estate team in AMP Capital and Macquarie Asset Management.  Prior to that, Jacob has spent 5 years in APG asset management, in the listed real estate team.  As one of the largest RE funds in Asia, he co-managed EUR6bn investment portfolio with the team with a focus on Hong Kong and China property.  He led the USD200m cornerstone investment in Wanda Commercial Properties IPO (the largest mall operator and developer in China).  Prior to this, Jacob has 3 years of experience in investment banking in Bank of America Merrill Lynch, covering equity, debt and M&A transactions across real estate, consumer& retail and TMT sectors.  Jacob specializes in fundamental bottom up research.  Aside from work, Jacob has a personal interest in spirituality and personal development.  He practiced meditation and has published a book about meaning of life in 2016.

Listed Real Estate Asia

HK RE Series (3): Global Macro Starts to Turn More Supportive, Stock Valuation Is Compelling

NWD 17 HK Update: De-Leveraging in Process, the Biggest Beneficiary of Fed Rate Cut Cycle

Wharf REIC: Beta Play W Multiple Catalysts, Lower Rates, Weaker Currency and Returning of Shoppers

Sun Hung Kai Properties (16 HK): After Excessive Price Correction, Why I Think It Is a Bargain! BUY

LINK REIT – the Largest REIT in Asia, Firmly on a Post-Covid Recovery with Attractive Valuation

HK RE Series (1): Picking the Winners for 2024 with Supportive Macro Backdrop & Company Catalysts

NWD 17 HK: FY23 Results Update, to Reset and Transform, and a Beta Play if Rate Expectation Peaks

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

Sun Hung Kai Properties / Equity Bottom-Up

<ul>
<li>Markets continue to be extremely bearish on HK/China, we look at the latest property market fundamentals and macro indicators, as well as company updates of our top picks</li>
<li>In the latest budget, the HK government just announced to scrap all spicy measures on property market and eased mortgage policy</li>
<li>With government support, we view the bottom of physical market is near.  For further re-rating, we need interest rate to go down, as well as resumed fund flows.</li>
</ul>


Markets continue to be extremely bearish on HK/China, we look at the latest property market fundamentals and macro indicators, as well as company updates of our top picks
In the latest budget, the HK government just announced to scrap all spicy measures on property market and eased mortgage policy
With government support, we view the bottom of physical market is near.  For further re-rating, we need interest rate to go down, as well as resumed fund flows.


HK RE Series (2): Market Is Still Bearish but Bottom Is Near, Few Things Needed for Re-Rating