JLL has brought on board former Shui On Group executive Rayman Tseng as Managing Director for the property consultancy’s operation in Wuhan.
Prior to taking on leadership of JLL’s office in the central China city of 9.8 million people, Tseng had spent 18 years in China’s real estate industry, serving most recently as a general manager with SOCAM Development Ltd, which is part of property tycoon Vincent Lo’s Shui On Group.
Through his experience with SOCAM, Tseng, who holds an MBA and a Master of Science in Investment Management from the Hong Kong University of Science & Technology has expertise in direct investment covering deal sourcing, screening, structuring, negotiation and closing with a focus on private equity real estate investment.
Tseng takes on the top role in the capital of China’s Hubei province replacing Li Jie, a JLL veteran of more than 15 years who left the company last year. Li has since relocated to Beijing where he joined Colliers International as Managing Director for its North China business in August.
In Wuhan Tseng will lead a team that includes two newly enlisted advisers — Helen Xu, Head of Property and Asset Management, and Helen Xiong, Head of Retail. The newly appointed MD will report directly to Eddie Ng, who stepped up as Managing Director for East China last year, after Anthony Couse was named CEO of JLL Asia Pacific.
“As a key city in ‘National Central Cities and ‘One Belt and One Road Plan’, Wuhan maintains its position among the world’s most dynamic urban economies, and typifies high-energy cities that are riding the wave of strong economic and real estate momentum,” said Tseng in the statement.
JLL made its forays into mainland China in 1994, and undertook its first project in Wuhan in 2004. It officially opened an office in the city in 2012.