Finance industry journal Euromoney named Cushman & Wakefield the top China real estate agency in 2018, as the global property consultancy leveraged a surging investment market for mainland properties to scoop up the top slot for the second consecutive year.
Cushman & Wakefield beat out competitors in a country-by-country comparison in the categories of Overall agency, Valuation, Agency Letting/Sales and Research, the consultancy revealed to Mingtiandi.
“Once again, a clean sweep of Euromoney’s real estate awards across four key categories, including overall services provider, reflects Cushman & Wakefield’s market leading position as the premium provider of the most comprehensive range of real estate services across Greater China,” commented Edward Cheung, Chairman of the company’s Asia Pacific Board and Chief Executive for Greater China.
Riding a Period of Strong Property Investment
The mainland China investment market has reached new heights of transaction value and activity over the past 24 months as record demand for commercial space has fueled positive investor sentiment.
According to Cushman & Wakefield Greater China Research, commercial property investment totaled more than RMB 500 billion over the two-year period, surging 145 percent on a quarterly basis over the eight quarters in the two-year period compared to the 10-year average of RMB 25.6 billion per quarter.
Cushman & Wakefield has been active in servicing the growing interest of investors in targeting assets in non-core areas of Tier-1 cities. Among the largest deals closed in mainland China in recent years, the Capital Markets team brokered Link REIT’s purchase of the landmark Metropolitan Plaza shopping mall in southwest Guangzhou for RMB 4.065 billion. The transaction won “Best Deal of the Year, Excellence” at the 2018 China property awards organized by the Royal Institution of Chartered Surveyors (RICS).
Alongside increasing investment activity, occupier demand has reached new heights in both the office and retail property markets, at a combined 5.3 and 6.5 million square metres worth of net absorption over 18 major markets tracked by Cushman & Wakefield in 2017, respectively. At the half-year mark, the market appears to be on track to have another stellar year in 2018, with both office and retail absorption already reaching near half of last year’s record levels.
Looking Forward to More Wins for Clients and the Team
Cheung added, “As China’s market grows, real estate investors, developers and occupiers continually demand more from their advisors and service providers, and the Cushman & Wakefield team looks forward to meeting and surpassing those expectations in 2018 and beyond.”
The awards are drawn from Euromoney’s annual Real Estate Survey, now in its 14th year. The 2018 survey canvassed thousands of industry professionals, investors and corporate end-users worldwide, and was conducted from March 8 to May 4, 2018. The wins in China come alongside the company’s clinching the No. 1 spot globally for overall advisory.
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