Cushman & Wakefield picked up five prizes at the 2019 Asia Pacific Property Awards, in recognition of its service excellence and achievements in agency, office and retail services in China. The awards celebrate the highest levels of achievement by companies operating in all sectors of the property industry and is judged by an independent panel of over 80 industry experts.
“We are delighted to be recognized at the Asia Pacific Property Awards across five categories, which is a fantastic achievement for our 7,000 employees operating within Greater China. We have a wonderful business across Greater China which continues to grow rapidly and perform strongly. I am excited about the growth opportunity for our broader business across Asia Pacific, with annual revenues of US$1.4 billion and strong momentum,” said Matthew Bouw, Cushman & Wakefield’s Chief Executive Officer for Asia Pacific.
Cushman & Wakefield won Five Star awards, the highest mark of excellence in the contest, for Best Property Consultancy in China, as well as for Best Property Consultancy Marketing for its office agency work on behalf of the Shanghai Global Harbor Project.
The firm’s China business was also recognised as the winner in the categories of Real Estate Agency 5-20 Offices, for Lettings Agency and for Real Estate Agency Marketing, in recognition of its Retail Services work in the Baidu NEXT BOX Unbelievable Pop-up Store Project.
“The success at our first-ever Asia Pacific Property Awards is a testament to the commitment that our team has to exceeding client expectations, championing a culture of collaboration and leading the industry with the highest standards,” said K K Chiu, International Director and Chief Executive for Greater China at Cushman & Wakefield. “We will carry this momentum forward in the region, as we look to replicate our success during 2019, and continue to leverage local and global insight to shape the built environment.”
Solid Performance in Capital Markets
Cushman & Wakefield had a record year in 2018, handling close to RMB80 billion worth of transactions, which included some of Greater China’s biggest investment transactions.
James Shepherd, Head of Research for Asia Pacific at Cushman & Wakefield, commented, “Real estate investment volumes in Asia Pacific reached a record $877 billion in 2018, according to data from Real Capital Analytics (RCA). Despite trade frictions, US investment into China’s CRE market, excluding land, over the first 5 months of 2019 amounted to more than $3.6 billion, which already exceeds the annual investment total from the US in 2018.”
Cushman & Wakefield were involved in delivering several significant investment transactions in Greater China last year, including:
- In December 2018, the firm assisted a joint venture led by real estate investment manager AEW in purchasing a 21-storey office tower in the Beijing Oriental Culture and Art Center from Hong Kong-listed Hopson Development for a total consideration reported by RCA to be RMB 4.5 billion ($654 million).
- Cushman & Wakefield was also active in Shanghai, where the Capital Markets team was appointed sole agent for the disposal of four blocks of the 60,807-sq m (GFA) Shanghai MIXC Office project.
Year of Regional, Global Achievements
The accolades won at the Asia Pacific Property Awards are impressive additions to Cushman & Wakefield’s regional and global recognition profile.
In China, Cushman & Wakefield was recognised by the Royal Institute of Chartered Surveyors (RICS) as the Winner for Professional Consultancy Service Team of the Year in Real Estate. The firm also received Certificates of Excellence for Research Team of the Year, Facility Management Team of the Year, Best Deal of the Year – Investment Transaction, and Best Deal of the Year – Leasing Transaction.
In Hong Kong, RICS awarded Cushman & Wakefield the prestigious “Best Deal of the Year” award for two consecutive years, and three Certificates of Excellence in both categories of Professional Consultancy Services Team of the Year and Retail Team of the Year.
Globally, Euromoney’s 2018 Real Estate Survey named Cushman & Wakefield the world’s top overall commercial real estate advisor and consultant. This worldwide recognition was paralleled by No. 1 rankings for real estate advisor and consultant in the survey for China and Asia overall.