Further growth for Savills in China with new Taiwan office (TW)
Monday 7 May 2012
Following the recent launch of a new office in Tianjin, international real estate advisor Savills has expanded further in China with the opening a second office in Taiwan, located at 25F-3 City Centre Plaza in Taichung, which will service clients in central and southern Taiwan.
Savills Taiwan was established in April 2007 with an office in Taipei and has grown from seven employees to a current total of over 60 with services including sales and leasing of commercial property, international residential sales, valuation and professional services. Savills Taiwan has concluded an accumulated US $2.1 billion worth of property transactions and in 2011 alone, closed $677 million worth of property deals.
Cynthia Chu, Managing Director of Savills Taiwan, comments: “The Taichung expansion was required because of the strong demand from both domestic and international clients. Taichung is a city with an ample supply of ready-to-develop land and better property investment returns compared with Taipei.”
Raymond Lee, Chief Executive Officer of Savills Greater China, says: This opening shows our confidence in Taiwan’s economic future, and specifically in Taichung’s property market.”
Robert McKellar, Chief Executive Officer of Savills Asia Pacific, adds: Our investment in the Taichung office is a healthy organic growth resulting from Savills Taiwan’s outstanding performance over the past five years, under the leadership of Cynthia Chu.”
Taichung City is the urban center of the Central region of Taiwan and most Taiwanese enterprises in China are originally from Taichung. Luxury brands, including Louis Vuitton, Coach and Coachmen achieve their highest single-store revenues from their Taichung branches.
The city also has one of the largest precision machinery industry clusters in the world. Global brands such as Giant Bicycles and Maxxis are headquartered in the region. As it used to be the seat of the provincial government, public facilities, universities and cultural institutes are all well established in the city