The 13th CBRE office in China, Changsha Office will Capitalize on the “Rise of Central China” and Further Expands CBRE’s China Platform
22 November, 2012 Hong Kong – CBRE, the world’s leading real estate services provider, today announced the opening of an office in Changsha, in central China.
This will be CBRE’s thirteenth office in mainland China, and represents the latest expansion of the company’s platform in China in response to customer demand in the rapidly growing central region of the country.
As the capital of Hunan Province, in recent years, Changsha has witnessed rapid growth. The overall economy of the city ranks seventh amongst provincial capitals and the general competitiveness of Changsha is the highest of the major cities within the central and western regions of China. Whilst maintaining a rapid rate of industrial growth, Changsha is also aggressively accelerating the development of the modern service industry within the city, anchored by the secondary and tertiary sectors. In terms of the real estate sector, Changsha is benefiting from the growth of domestic enterprises as well as the expansion of international corporations which are entering the region in the wake of the broader national strategy stimulating the “Rise of Central China”.
As CBRE’s thirteenth office in China, the Changsha office will serve clients in both Hunan and Jiangxi provinces, providing a full range of services including property management, retail consulting and leasing, office and industrial leasing, consulting and research. Tony Peng, as the Managing Director of the Changsha office, will lead a local team, working closely together with professionals from Central China and other regions throughout the country.
“The opening of our Changsha office further demonstrates CBRE’s consistent strategy to provide clients in China with industry leading real estate services throughout the country. The real estate industry in China is evolving rapidly and opportunities in second and third tier markets are emerging at a rapid rate. Our Changsha office will form an integral part of our China business platform, and with a local presence and expertise within the city we believe that we will be well positioned to assist our clients to capitalize upon these emerging opportunities in Central China,” said Chris Brooke, President & CEO, CBRE in China.
Thomas Ng, Managing Director of CBRE in Central China, commented: “Over the past five years, our Central China business has been growing rapidly from our regional hub in Wuhan, and has undertaken business in Hubei, Hunan, Jiangxi and Henan provinces, including the majority of key cities within these provinces. With the addition of our Changsha office, we believe that we will be able to build upon the momentum which we have created and support our strategic objectives associated with the next phase of business development in the region. I am confident that under the leadership of Tony Peng, who is a seasoned and highly acknowledged real estate professional in China, we will establish a strong local presence in Changsha which will support our overall regional strategy going forward.”
Tony Peng, the Managing Director of the new office in Changsha, said: "Changsha is developing into one of the most important economic centres in central China. The position of Changsha as a key transportation hub will be further enhanced as a result of the opening of Wuhan-Guangzhou high-speed railway and the ongoing construction of Shanghai-Kunming high-speed railway. The railway has brought about opportunities, evident in the high level of commercial activity flowing into central China from other parts of the country. As a result, Changsha is increasingly becoming a destination for domestic and international developers, investors and occupiers as they expand into the central region of China. We believe that it is an appropriate time for CBRE to open anoffice to support our clients as they look to realize business opportunities in this region.”
Tony Peng is a member of Chartered Institute of Housing Asia Pacific Branch. For the last 18 years, he has held various leadership positions covering sales, management and business development activities within the real estate sector.CBRE established a presence in Hong Kong in 1978 and has been operating in China since the company was appointed as the leasing consultant in relation to Tower One of the China World Trade Centre in Beijing in 1988. CBRE has also had an operation in Taiwan since 1990.
Since the early 1990’s, CBRE has developed into a leading real estate service provider in China, and currently has 12 full service offices in Beijing, Shanghai, Guangzhou, Chengdu, Chongqing, Tianjin, Hangzhou, Shenzhen, Dalian, Qingdao, Shenyang and Wuhan as well as approximately 14 project offices and experience in over 100 cities within China. The new office in Changsha will be the thirteenth full service officeoperated by CBRE in China.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
