PMOs in Real Estate Management

Per an earlier post on PMOs in law firms (here), I’m always fascinated by the new industries that are starting to see value in more formal project management. 

Pinnacle is a real estate investment management firm based in Seattle.  They’re establishing a PMO to put more consistent and repeatable practices in place (press release here).  Pinnacle expects more than process from its PMO, however. It was nice to see this quote from Pinnacle’s Chief Administrative Officer Ed Wolff:

Pinnacle has recognized the need to establish a PMO to facilitate excellence in the execution of strategic business initiatives. Our ultimate goal is creating greater value for the assets we manage and our customers.

Hat tip: Real Estate Central (here)

Housing boom ending in China?

From today’s Shanghai Daily, the English-language daily, it appears that even China’s housing boom is slowing down (story here).  Of course, that doesn’t mean that prices are falling…

THE average property price in 70 major Chinese mainland cities failed to post a month-on-month gain in June…, although the price was 8.2 percent higher than a year earlier.  (emphasis mine)

Per the article, apparently the Chinese government has tightened lending requirements and bank reserve requirements to take some air out of the bubble.

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