Inflation Affecting Development Cost “Our Biggest Concern Right Now”: 10 on The Weekend with Ziyou Tian
Ten On The Weekend is a weekly (-ish) feature in IMI, the concept of which is simple: Each time, we ask the same ten questions of a different industry figure, letting readers get to know the interviewee on a more personal and informal level than they might in an ordinary business setting.
Our guest this week is Ziyou Tian (田自由) of Qualive.
How do you spend your weekends?
I have the privilege to live in Lisbon, a city that has no lack of offerings for the weekend and always has great weather. I start my weekend in the gym or playing tennis. Then I enjoy lunch with friends in one of many nice outdoor cafés, by the beach, or with a picnic basket in the park. In the evening, I go out for dinner or drinks.
On Sundays, I reserve some time for myself – reading, meditating, or watching a movie. I often take weekend trips to Porto, Alentejo, or Algarve. Now, as covid restrictions are lifted, I spend some weekends visiting other European cities.
What are your top three business goals this year?
We acquired two very interesting assets this year; a small palace-turned-boutique-hotel in Évora and an old sardine factory converted to a mixed-use development in Porto. My number one focus is to continue developing the two projects and drive the sales of both through the end of the year.
My second goal is as always to continue working on the existing projects we have, and complete one of our active constructions by year-end.
Lastly, to plan for the future, we are creating acquisition briefs for next year’s investment pipeline.
What’s your biggest business concern right now?
My biggest concern is the uncertainty in construction prices. Inflation continues to affect our suppliers, making our construction budget unpredictable. We anticipate inflation will calm as we are coming out of the pandemic. However, it still remains my biggest concern right now for our business.
Which book is on your nightstand right now?
The Bitcoin Standard: The Decentralized Alternative to Central Banking, by Saifedean Ammous.
I’m personally interested in the topic and the book has also brought some inspiration for our business.
How and when did you first get into the investment migration industry?
I came to Portugal in 2016 and started as a real estate developer in Porto the same year. In the last five years, we’ve built a brand specialized in developing design-driven real estate. As a developer, we benefited from the investment-for-visa policy in Portugal, which brought a diverse pool of international clients and investors to our projects.
What was your proudest moment as a service provider?
I’m the proudest when our clients are happy with their new home or investment and continue to invest with us, or introduce friends and family to our projects. We have had many repeating clients or clients that become core investors of the company. I am very proud to gain trust and build close relationships with many of our clients.
Which investment migration market development has surprised you the most in the last year?
I’m quite surprised by the amount of real estate investment activities in Portugal during the pandemic. I strongly believe Portugal’s real estate market has a long way to grow, and I am positively surprised that many investors choose Portugal to invest in amid the uncertainties brought by the pandemic.
If you could go 10 years back in time, what business decision would you change?
I’m a new-generation developer and a young entrepreneur. Ten years ago, I was still learning about the real estate industry. If I could go back in time, I would perhaps start investing in bitcoin earlier.
What investment migration industry personality do you most admire?
As I focus my work mainly on real estate development, I am not familiar enough with the migration industry to name a person.
If all goes according to plan, what will you be doing five years from now?
Five years from now, I will be managing a larger real estate portfolio in Portugal. I hope to expand our portfolio with long-term, high-yield holding in commercial and hospitality assets in Portugal. In the next five years, I will work to expand the investor base and develop more design-driven, value-add projects with like-minded investors.