Property Management Services Authority Conducts Exchange with Representatives of the Royal Institution of Chartered Surveyors (RICS)

The Property Management Services Authority (PMSA) met today with key members of the Royal Institution of Chartered Surveyors (RICS), including Chris Alder, Senior Executive Officer, Standards and Regulation; and Ian Jeal, Director, Education & Qualifications from the United Kingdom (UK), and Belinda Howell, Director of Profession Support & Assurance; as well as Ryan Cheng, Profession Support & Assurance Technical Specialist; Seabook Yam, Senior Public Affairs Officer; and Karina Cheung, Partner Development Manager from Hong Kong, to introduce PMSA’s work and the latest situation of implementation of the property management (PM) industry licensing regime in Hong Kong. Exchanges were conducted on regulating the industry, formulating codes of conduct and continuing professional development.

Alan Siu, CEO of the PMSA, said during the exchange, “Under the PM industry licensing regime, over 750 property management companies (PMCs) and more than 13,000 practitioners (PMPs) have been licensed, providing PM services to nearly 2.2 million units in various categories of properties in Hong Kong. They are a huge professional team which is asset and invaluable resources for driving the future development of the community in Hong Kong. The PMSA is dedicated in formulating codes of conduct and best practice guides for the industry in order to provide practical guidance on various aspects of PM for the industry, and also to set objective standard regarding PM services so as to increase the transparency of PM industry work and strengthen the public’s knowledge in PM industry operation, thereby reducing conflict and complaints regarding PM services.”

Alan Siu also emphasised, “It is evidenced that the PM industry licensing regime has catalysed the advancement of the industry towards enhanced professionalism, and various sectors of the community have strengthened their knowledge about the industry and have expressed support accordingly. Currently, different Government departments and public bodies have adopted PMC and PMP licences issued by the PMSA as basis for engaging PM services or verification of professional qualification, while owners’ organisations consider PMCs holding valid licence a prerequisite to inviting tender for the procurement of PM services.”

Alan Siu added further, “RICS’s representatives from the UK visiting Hong Kong and exchanging with the PMSA on the PM industry licensing regime reflects that the development of the PM industry in Hong Kong towards enhanced professionalism is recognised by the international professional community.”

Under the PM industry licensing regime, the PMSA will coordinate forces and resources from the Government, the PM industry and various sectors of the community to, through the three-pronged approach of “regulating by licensing”, “formulating codes of conduct” and “encouraging continuing professional development”, drive the PM industry to incorporate ESG, i.e. protecting the environment (E – environmental), fulfilling social responsibility (S – social) and strengthening corporate governance (G – governance) into its operation so as to raise the professional standard and status of PM and drive the healthy, sustainable future development of the industry, and making active contribution such that members of the public can live and work in harmony, and the industry ties in with international development.

RICS became the first batch of PMSA Recognised Professional Bodies in December 2019. The PMSA has recognised its Chartered Members (Hong Kong) of the following ten divisions: Building Control, Building Surveying, Commercial Real Estate, Corporate Real Estate, Facilities Management, Management Consultancy, Planning and Development, Project Management, Property Finance and Investment, and Residential. These memberships are in compliance with the requirement concerning professional qualification for the PMP (Tier 1) licence issued by the PMSA.

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