“In the past 30-40 years, the Chinese economy has been growing, and along with it a lot of new construction has taken place everywhere” Sharon explains, “but we are now at a critical mass with a lot of older buildings still being good for use. Instead of tearing them down to build new ones, focus is shifting to equipping such buildings with new technology, being more environmentally aware.”
“This presents an opportunity for Aritco as we also want to grow sustainably and help minimize damage to the environment.”
Though elevators for commercial and apartment buildings are most prevalent, Sharon also sees the Chinese home lift market as enticing for Aritco.
“With China being such a large country and having so many existing villas and fewer household buildings, there is potentially a market for 20.000 or more home lifts per year for Aritco despite construction being focused on skyscrapers.”