New | Telok's small-flats strategy catering to Macau's young buyers proves successful

Philip Pang, with his 19 years of experience in real estate investment, is taking to a different tack to the major developers that have focused on luxury residential properties for foreign buyers in Macau.

As a partner at Telok Real Estate Partners, Pang is responsible for the investment activities of the bouquet-sized developer. His team's focus on building small flats at affordable prices for young people in the former Portuguese colony has been successful. Today, the firm is entering another new phase by exploring development opportunities in hotel and urban renewal in Macau, which has a population of 630,000, roughly equivalent to Sha Tin district in Hong Kong.

Before joining Telok as a partner in October 2009, Pang was a director of Deutsche Bank and was primarily responsible for originating and structuring real-estate-related private equity investments. He formulated investment strategies for opportunistic funds and originated and closed the first real estate investment fund in mainland China for Deutsche's Real Estate Opportunistic Fund. Previously, he was a principal of Macquarie Real Estate Asia, the senior adviser to Schroder Asian Properties, a US$308 million private equity real estate fund.

During his tenure, the fund completed several significant transactions including the acquisition of the original serviced-apartment portfolio of the Shama Group in Hong Kong and the establishment of First China Property Group, a joint-venture residential development company based in Shanghai with the Schroder Asia Properties Fund and Macquarie Bank.

Prior to that as a member of Bankers Trust's Real Estate Investment Banking Group, Pang worked on corporate finance, structured finance, distressed asset/non-performing loan portfolio restructuring and real estate direct investments in New York, Tokyo and Hong Kong.