The real estate market in China’s fast developing west is set to get a bit more attention from one of the biggest international property consultancies, as Colliers International has appointed Tammy Tang as head of western China – covering its offices in Chengdu and Xi’an
Tang, who has been serving as Head of Industrial for China from Colliers’ Shanghai office since 2014, will now take responsibility for the western region of the country, in addition to her responsibilities looking after the manufacturing, business park and logistics sectors for the Nasdaq-listed firm.
“Tammy is a highly motivated and experienced business leader with a wealth of advisory, leasing and capital markets experience in China,” commented Colliers’ Asia Pacific CEO David Hand. “Her appointment highlights our ongoing commitment to providing our clients with unrivalled service and comprehensive coverage across the market.” In addition to her roles at Colliers, Tang also has experience with JLL and data centre developer GDS.
Colliers had previously put its Chengdu office, which opened in 2005, under the supervision of Lina Wong, who had served until recently as Managing Director for East and Southwest China at the company. Wong’s current job title includes only the eastern China region, according to Colliers’ website.
Taking on a Challenging Chengdu Market
Chengdu’s office market faces oversupply at the moment, with vacancy rates for grade A space predicted to rise from their current 35 percent up to 40 percent according to a report released by Colliiers last month, with still rising supply putting downward pressure on rents.
The situation may be more encouraging on the property management side, with Colliers having managed more than 4.26 million square metres of space for Chengdu landlords, according to the company’s website.