Senior economist Ba Shusong (second from right) spoke at the Jinshi Forum on Sept 24 in Dalian. [Photo/chinadaily.com.cn]

Domestic real estate companies should turn to diversified and specialized development under the current policies of adjustment and control, a senior economist suggested on Saturday at a forum in Dalian, Northeast China’s Liaoning province.

Ba Shusong, deputy director of the Financial Research Institute of the State Council's Development Research Center, said it is a trend for the real estate companies to concentrate on specialized products such as coastal and commercial real estate.

When the market is slowing down its growth, the companies get a good chance to make appropriate adjustment and improve the product quality, he added.

Other guests, including Zhao Min, director of the administrative committee of Dalian Jinshitan National Holiday Resort, innovative architect Ma Yansong, Zhang Xi, board chairman of Smarthero (HK) Investment Development Co Ltd, attended the "Jinshi Forum" at Jinshitan.

Dalian is one of the most energetic and fast-developing areas in China. It boasts not only a beautiful natural environment but also architecture that combines oriental and western concepts.

According to Zhao, Dalian Jinshitan National Holiday Resort is a back garden of Dalian and even Northeast China. It enjoys advantages to develop coastal property.

The coastal tourism resources attracted Smarthero to Jinshitan to develop its top-level project Royal Bay, which covers a land area of 400,000 square meters.

Zhang said top real estate is the best choice to cope with the risks caused by control policies and inflation.

“It has strong risk resistance capacity because more rich people are buying villas and the land approved for villas are limited,” he explained.

He also suggested for the perfect fusion of buildings and natural environment in the development of coastal projects.

The Royal Bay project, which held a grand opening ceremony on Saturday, is surrounded by the sea in three sides and mountain in the other side. Its two-story villas combine the natural landscape with modern art design.

One building looks like a cloud floating in the sea. It accommodates a luxurious hotel, a yacht club, a music hall, and other recreational facilities.

Ma Yansong, the designer of the floating castle, said a work of architecture can be impressive and preserved for a long period only when it is harmonious with local environment and history.

Lien Sheng-Wen, an investor and son of Lien Chan, also attended the forum as an honored guest.