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The FM Communicator Newsletter Issue No. 11951, 3rd1st1st1stQ 200543, JanuaryJanuary 2005 January 20043 Dear Members / Professionals / Friends / Readers, Welcome to the 11th Issue! Summer time and that means great fun. Some may go to the beach while others take a vacation trip abroad. In any event, we hope you all would have had a good summer this year. The economy continues to improve with lower unemployment rates and better job prospects for this year’s graduates. Our new CE apparently has settled into his post well and Mickey Mouse will soon welcome us to his Hong Kong castle. The stock market seems to be on a rebound to a high not seen since the IT boom and the real estate market is holding steady as well, notwithstanding quite a few windows in older buildings seem to be failing and falling down at the same time. Regionally, there have been ceremonies marking VJ (Victory over Japan) Day that occurred 60 years ago in August 1945. Globally, interest rates are rising gradually and George W Bush is contemplating fighting Iraq’s next door neighbor Iran, and then Katrina struck New Orleans. Welcome! tTo the fifthfirst quarterly issue of our institute’s newsletter and at the time of writing this up, the overall economy of Hong Kong has shown signs of recovery in terms of consumer spending, stock prices, and housing price indexes. The Closer Economic Partnership Agreement (CEPA) with the Mainland has taken effect, along with continued but cautioned economic vibrancy in the USA. A few confirmed or suspected SARS cases were also reported in the Mainland. Facility managers take note!and as the name suggests, we hope it would serve as a communication Quite an interesting past few months, with public discussions, debates, or even challenges among and from the public on various real estate related issues ranging from the culturally themed public-private-participation project, via an aborted (perhaps temporarily) REIT IPO, to the demolition (decidedly aborted) of certain for