International property consultancy JLL held an opening ceremony this past week for its new office in Hangzhou, China, which featured the G20 summit last year and will host the 2022 Asian Games.
“With vigorous private enterprises, a growing science and technology industry, a thriving service sector, a flourishing tourism industry and a favourable living environment, Hangzhou is one of the most diversified and dynamic cities in China and across the globe,” Eric Xin, managing director of the new JLL office, said of the opening of the Hangzhou office.
As the capital of eastern China’s prosperous Zhejiang province, Hangzhou has benefitted from the improving infrastructure and general economic growth in the Yangtze River Delta region in recent years. With high speed rail links bring the city to within 45 minutes of Shanghai, Hangzhou rose to 22nd place for real estate momentum and 19th for socio-economic momentum on JLL’s Global City Momentum Index, an index of the world’s most dynamic cities which was issued last month.
Aside from being known for its Longjing tea and Chinese poetry, Hanghzou is the hometown of Jack Ma and the birthplace of Alibaba, China’s ecommerce powerhouse. The city is increasingly seen as a high tech haven for mainland entrepreneurs and is listed by JLL as one the most dynamic cities in the world. In addition to Alibaba, Hangzhou also hosts major firms Geely, Wahaha, Wanxiang, Rongsheng and Hikivision.
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“The establishment of our Hangzhou Office will further enhance our service capabilities and platform in the Yangtze River Delta and the China market as a whole,” said K.K. Fung, managing director of JLL Greater China. “As China continuously transforms from an economy driven by global manufacturing to one dominated by innovative technologies and services, Hangzhou holds a unique proposition in this new wave of development. ”
JLL has been operating in Hangzhou since 2005, including providing retail leasing for the Hangzhou Kerry Center, property management for the Hangzhou Canhigh Centre, and conducting strategic consultancies for Hangzhou Canal New Town and the ecommerce town on the city’s Shangtang Street.
JLL Hangzhou will mark the US-based company’s thirteenth office in mainland China, where it now employs more than 2,200 professionals and 14,000 on-site staff.