CACP as a professional networking organization is unique in its broad-spectrum mix of membership, ranging from architects, engineers, contractors to planners, building officials, land-use attorneys, lenders and real estate brokers. It is unique also in that its membership consists mainly of small business owners, many of which maintain strong ties to real estate investments from South East Asia, especially China, Taiwan and Hong Kong. The uniqueness presents challenges as well as advantages. With the growing economic power in Asia, it is a golden opportunity now for CACP to leverage its great edges.
At least in the past two decades the following have been the two primary objectives of CACP:
We have all witnessed increasing Asian investment in our local real estate development. Luxe City Center and Fig Central are among the current largest development projects in southern California. Both are by Chinese investors, and both of them, Hazens and Oceanwide, are here tonight participating in this CACP event. At the same time, with its growing edges CACP has been able to attract large firms not only to join its membership, but to actively participate in the organization as sponsors or serving as its directors. Southern California Edison and Cathay Bank are just two fine examples of our sponsors. Gensler and Englekirk Structural Engineers, two of the finest design firms in the country, now have high-ranking managers serving on our Board of Directors.
With the changing world economy and transforming CACP, there has not been a better time for CACP to seize the opportunity and further its primary objectives. As the incoming president, I congratulate my predecessors for their fruitful efforts and admirable accomplishments, and look forward to working with all of you to take our accomplishments to yet another level, amid the opportunities that have presented themselves to us.