PCB Logo
10 Jan 2024
Time to say HongBai 2023
We say goodbye to another interesting year and update you on my recent visits to Hong Kong and Dubai; HongBai. “Interesting” is one of the more diplomatic words I’ve used to describe last year (and actually every year since 2016- no need to go into what happened in previous years nor the less diplomatic words I could have used to describe them). Read on...

HongBai 2023: Reflections on Resilience, Challenges, and Exciting New Horizons

Farewell to an "Interesting" Year

2023, like the every year since 2016, has been…well, "interesting" is one way to put it. While diplomatic, "interesting" doesn't fully capture the challenges the property industry and the world at large have faced. Yet, it's during these tough times that true resilience shines through, proving our mettle and pushing us to innovate and improve.

Learning from the Wine Industry: Embracing "Strain on the Vine"

The wine industry offers a valuable parallel. In 2012 California, ideal conditions led to the saying: "If you can't make money as a winemaker here, you shouldn't be making wine." It was almost too easy (and reminiscent of the London property market then too). Contrast that to Bordeaux, where harsh, gravelly soil creates constant "strain on the vine." Rainwater drains quickly, forcing roots to work harder for every drop. While challenging, this struggle produces concentrated grapes, resulting in exceptional wines.

Similarly, the "strain on the vine" we experienced in 2023 has led to remarkable growth and innovation here at PCB. We've adapted, built out the Team, refined our Services and emerged stronger and more resilient.

Speaking of wine, thanks again to everyone who made our first annual VIP event at the Wine Club 67 Pall Mall such a huge success and fun evening.

Hong Kong: A Year of Challenges and Triumphs

Hong Kong, no stranger to adversity, delivered an exciting finish... PCB supported FEC's Aspen completion event, one of London's strongest selling developments. And who could forget the launch of St Michael's (Manchester's first private residences) by Salboy, Relentless Developments, and Asia Banker's Club? This record-breaking launch has the the whole of Manchester buzzing, including rival developers, marking a landmark moment for the City.

Manchester: A Rising Star in the North

Manchester has been a shining beacon for PCB this year. The calibre of developers and projects is truly impressive. We've supported not only FEC and Salboy but also Renaker and Select Property Group, and witnessed the rapid rise of North Property Group. The sheer volume and quality of development feels like we may be heading for another California 2012.

Dubai: Where the Sun (Literally and Metaphorically) Shines

My first Dubai visit since 2019 was also invigorating. The local market is thriving, it was great to see some familiar faces (as well as some new ones) and the City's undeniable role as a gateway to the wider region makes for exciting future prospects. Like our experience with Manchester, it felt good to be where the sun was shining (only metaphorically in Manchester of course!).

Looking Ahead to 2024: New Horizons Beckon

Expect further news from PCB on both Manchester and Dubai in 2024 and in our next update we look forward to 2024 and what lies ahead.

May we live in “interesting” times.

This post was written by Sam Molloy

Sam was educated at the University of Sheffield as well as Griffiths University in Brisbane, Australia. He gained professional experience in London real estate before joining PCB in 2012. His specialisations include: overseas investors purchasing new and established property, real estate finance and commercial property investment work.

Dare to D:ream

With you every step of the way.

Trusted expert legal support
PCB Logo

PCB Lawyers LLP
Cavendish Court
11-15 Wigmore Street

T: +44 (0) 20 7299 9261
F: +44 (0) 20 7000 1359
E: enquiries@pcblawyers.com

Manchester Office

111 Piccadilly
M1 2HY

Hong Kong office

1603 Wheelock House

20 Pedder Street


Hong Kong

T: +85296607475 (Attn: Henry Sit)
PCB is a limited liability partnership, authorised and regulated bythe Solicitors Regulation Authorityand registered in England and Wales under registered number: OC318980 and VAT number: 362 4964 34. PCB Lawyers LLP authorised and regulated by the Solicitors Regulation Authority under number 441402. Any reference to “partner” means a member of PCB Lawyers LLP.

Our Disputes Contact

Our Complaints Procedure

Property works fees

Probate fees

A list of members may be inspected at its registered office at Cavendish Court, 11-15 Wigmore Street, London, W1U 1PF. The information in this web site is for general guidance only. It is not intended to be suitable for specific legal advice which you should seek before taking or refraining from taking any steps. We will not be responsible for any loss or damages (including but not limited to loss of profits, loss of privacy and loss of data) or for any other direct or indirect, special or punitive damages whatsoever that arise out of or that are related to the use of this web site. We are required annually to collect, report and publish data on the diversity of our workforce. This data is available on request - please ask if you would like to receive a copy of our latest report.