Los Angeles, September 19, 2012 – CBRE Group Inc. (NYSE:CBG) today announced that it has been selected by Shanghai Tower Construction & Development Co., Ltd. to provide property management consultancy services for the iconic Shanghai Tower—a 2,073-ft. (632-m.) super-tall skyscraper currently under construction in the Lujiazui district of Shanghai, China. When completed in 2015, the 6.18 million-sq.-ft. (574,000-sq.-m.) mixed-use tower will be one of the most renowned commercial properties in China and around the world.
“Shanghai Tower will be one of the most prestigious properties we have ever managed, and a symbol of China’s distinguished position in the global economy,” said Brett White, Chief Executive Officer of CBRE. “We look forward to working with Chairman Kong Qing Wei and his team to establish the highest-caliber services for this world-class asset. Together, we will make Shanghai Tower one of the most desirable corporate and retail destinations in the world.”
“Shanghai Tower is not only designed to international standards, but it also strives to adopt a best-in-class approach to operational management. CBRE’s property management services, supported by international best practices and wide ranging industry expertise, will enable Shanghai Tower to achieve the highest level of property management. We hope that both parties will collaborate closely to jointly pursue ‘the highest, noblest and most exquisite’ development objectives associated with Shanghai Tower,” said Kong Qing Wei, Chairman of Shanghai Tower.
CBRE will initially serve as consultant to Shanghai Tower Construction & Development in developing property management and building operations strategies for Shanghai Tower. Upon completion of construction, CBRE will assume property management consultancy responsibilities in relation to the tower. As part of its engagement, CBRE has assembled an integrated, international team of professionals who will provide advice based on best-in-class practices developed at similar CBRE-managed assets worldwide.
Designed by Gensler, Shanghai Tower will feature high-quality office space, a luxury hotel, a world-class retail complex, an observation deck, and other entertainment and cultural venues. The tower will also be one of the most advanced super-tall skyscrapers in the world in terms of sustainability, designed to achieve both LEED® Gold certification and the China Green Building Three Star rating. The tower will anchor Shanghai’s Lujiazui district, which is rapidly emerging as one of the leading financial centers in East Asia.
The CBRE team responsible for this assignment includes Chris Brooke, President and Chief Executive Officer, China; Sam Cuccurullo, Executive Managing Director, Asset Services, Asia Pacific; Tony Long, President, Global Asset Services; Mary Ann Tighe, Chief Executive Officer, New York Tri-State; and Andy To, Executive Director, Asset Services, China.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
About Shanghai Tower Construction & Development Co., Ltd..
Formed on December 5, 2007, the Shanghai Tower Construction & Development Co., Ltd., represents an equity partnership between the Shanghai Chengtou Corp., the Luijiazui Finance & Trade Zone Development Co., Ltd., and the Shanghai Construction Group. These three shareholders are jointly funding the development and construction of Shanghai Tower with registered capital of RMB 5.4 billion. Driven to pursue the “highest, noblest and most exquisite” design and development objectives for Shanghai Tower, the corporation is leveraging more than 10 years of construction management and market expertise to deliver a landmark building worthy of Shanghai’s place on the world stage.