EN | FR
Cushman & Wakefield opens three new offices in Greater China
3 Aug, 2007, Shenzhen
Global real estate leader expands Greater China reach with new offices in Guangzhou, Shenzhen and Chengdu.
In another move to increase its presence in China, and further expand its global footprint, Cushman & Wakefield, the world’s largest private real estate company, announced today the opening of two more offices in Mainland China – in Guangzhou and in Shenzhen, both in Guangdong province on the border with Hong Kong.
This follows the announcement in June of the opening of a new Cushman & Wakefield office in Chengdu, one of the fastest growing secondary cities in China and the capital of Sichuan province.
Cushman & Wakefield has successfully operated in China for ten years and the Guangzhou, Shenzhen and Chengdu offices now bring the total number of Cushman & Wakefield offices in the Greater China region to seven, with the firm already present in Beijing, Shanghai, Hong Kong and Taipei..
Richard Middleton, Managing Director of Cushman & Wakefield’s Greater China operations, commented: “The new offices in Guanghzhou and Shenzhen will enhance Cushman & Wakefield’s ability to support multinationals and local enterprises in the Pearl River Delta, one of China's most vibrant regions. This initiative is a logical extension of our current operations in China and an increased commitment to providing clients with world-class local and global market knowledge, together with professional property services.”
Both offices, in Guanghzhou and Shenzhen, will be led by Lisa Lung, Director, who previously ran the Beijing Client Solutions department and brings a wealth of real estate consulting experience. The offices will offer a full range of real estate services including consulting, commercial, residential, retail, property management, facilities management, project management and investment.
The opening of the new office in Chengdu follows the appointment of Cushman & Wakefield to provide property management services in Times Plaza, a magnificent 105,459 sq m Grade ‘A’ building in the very center of Chengdu. Initially, the office will be headed by Andrew Zhu, National Director - Business Development.Andrew will be supported by Sonny Chen, Associate Director – Property Management and Wang Yi, Senior Manager – Commercial Services and their teams. The office will offer a full range of real estate services including consulting, commercial, residential, retail, property management, facilities management, project management and investment services.
Richard Middleton, Cushman & Wakefield Managing Director, Greater China, added: “By having our own office in Chengdu, Cushman & Wakefield will be in position to expand the services that it offers to both Chinese and international clients in what is one of China’s most dynamic markets. The decision is also part of our growth as a firm across Asia in response to the needs of our clients.”
The announcement of Cushman & Wakefield’s new office comes at a time when the Chengdu market is increasingly coming under the gaze of cross-border investors, and is forecasting a record level of investment.
Chengdu, the capital of Sichuan province, is the center of science and technology, commerce, trade and finance, and the hub of transportation and telecommunication in southwestern China. According to government statistics, in 2006 Chengdu witnessed a total contracted foreign investment of US$2bn, up 41.7 per cent compared with 2005, while the actual foreign investment reached US$760mn, up 36.6 per cent, ranking it first in Central and West China. Chengdu Hi-tech Industrial Development Zone successively introduced a legion of significant foreign investment projects, including Timken, Amphenol, BOC, IBM, SAP, Symantec, Fujitsu and MITAC. In 2006, phase two of Intel’s US$525mn assembly and test facilities was completed and its training center has been put into use.
According to statistics, of China’s 53 national hi-tech zones, Chengdu Hi-tech Industrial Development Zone ranks in fifth place in terms of comprehensive capacity and first in respect of corporate profitable rate. Following the introduction of China’s ‘go west’ policy, which offers preferential taxes and infrastructure assistance to lure foreign firms to the nation's less developed hinterland, Chengdu’s capability to attract foreign investment went up to the 6th place in 2006 from 21st in 2003 and growth ranks 1st in Central and West China.
For further information, please contact:
86 10 5921 0826