Colliers International opens two new offices in China

KUALA LUMPUR: Colliers International has opened two new offices – Shanghai Pudong Branch Office and Hangzhou Representative Office – in the Yangtze River Delta region in the second quarter this year.

Colliers Pudong branch office, established in Mirae Asset Tower aims to provide financial institutions with full-spectrum services of the property sector.

“As Shanghai will be a global financial center in 2020, numerous financial institutions will be bound to settle in the Bund and Lujiazui area. It is crucial that we seize this opportunity,” said Colliers International’s East & Southwest China division managing director Lina Wong in a statement on May 25.

She said Colliers has expanded its head office in Shanghai by leasing additional office space at Hong Kong New World Tower.

The opening of the Hangzhou Representative Office, located at Vanke Aureate City is also in line with the Hangzhou municipal government's plans to build 20 new towns and 100 urban complexes.

The total area of the 10 new towns that have started construction has been estimated at nearly 450 square kilometers.

“Such large-scale urban construction will bring to Hangzhou even Zhejiang’s real estate market unprecedented demand. That is why we are entering Hangzhou market at this moment,” she said.

Wong added that the Shanghai-Hangzhou high-speed railway, which is expected to be completed and put into operation this year, includes Hangzhou in “Shanghai’s half-hour economic circle.”

One of Colliers’ most important strategies is to further develop their markets in the mainland second-tier cities, said Wong.

Colliers International is the third largest commercial real estate services company in the world with 15,000 professionals operating out of more than 480 offices in 61 countries.