CB Richard Ellis performed well in the Asia Pacific region in the fourth quarter of last year, posting a 29 per cent revenue increase year-on-year according to its recently released global earnings report.
“This revenue growth was underpinned by increased activity across most service lines, with particularly strong demand for office leasing services, residential sales and some large valuation transactions,” said Rob Blain, Asia CEO and Chairman of CBRE.
Some of the major transactions completed by CBRE in Asia in the fourth quarter included:
CB Richard Ellis Valuation & Advisory Services team in Greater China was appointed by China Resource Land Limited to conduct valuations for various properties in the PRC for public circular purposes at the Hong Kong Exchange and Clearing Limited. The portfolio, with a total site area of over 37,000,000 sq. ft, will be used for residential, tourism and resort development.
The sale of nine office floors of Overseas Trust Bank Building, with a total gross floor area of approximately 65,000 sq. ft., was completed by the CB Richard Ellis Hong Kong team for HK$470 million (US$60.4 million).
The Beijing office completed a deal for the 20 year lease transaction between Financial Street Holdings and Galeries Lafayette. This deal facilitated the e retail project at Financial Street Xidan Square, Beijing. The property has approximately 538,200 sq. ft. of gross floor area and will be Galeries Lafayette’s largest shop after its Paris flagship.
CBRE was appointed to manage the development of two new-build industrial projects totalling around 500,000 sq ft in Singapore and Southern Malaysia. The project is the largest CBRE has ever taken in South East Asia and is a move into the industrial new-build market.
The Philippines Office Services department secured 10 floors for Hewlett Packard at the World Finance Plaza, McKinley Hill.
The CBRE New Delhi office helped the American F&B Chain set-up its third outlet in the National Capital Region of Delhi measuring 1,600 sq. ft. at Pacific Mall, Subhash Nagar after helping the brand launch two of its most successful outlets in the country at Select Citywalk, Saket and DLF Place, Vasant Kunj.
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