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JLL Survey reveals that a maturing CRE function is taking a key role in delivering on corporate strategy
Shanghai, Aug 5, 2015 - JLL's (NYSE:JLL) new research China Corporate Real Estate Trends 2015 reveals that, China's corporate real estate (CRE) teams are facing increasing expectations from the C-suites on delivering a broadening strategic mandate to increase productivity, and drive sustainability goals and workplace initiatives. As the CRE function has made great strides towards maturity, resistance to outsourcing declines, however, integration with other business units remains a challenge that CRE teams need to overcome to fully unfold their value across the organization.
With responses from 43 China-based CRE executives at companies with over 1,000 employees, this China edition of JLL's biennial Global Corporate Real Estate Trends report examines the current state and future direction of the CRE profession specific to companies operating in China.
The report identifies three major themes how the CRE function is actively engaged in transforming corporations from the inside out, helping domestic firms and multinational corporations (MNCs) alike shape their response to the country's more sustainable pace of economic growth:
"China's CRE teams overall are beginning to resemble their global counterparts in terms of work styles, structure and use of outsourcing. As their function matures, some team have become extremely advanced in their views of corporate real estate." Julien Zhang, Head of China-Desk for JLL China, says "While driving cost-savings is important, the CRE function in China is most valued as a source of innovation to deliver on corporate strategy. They are now at the forefront shaping corporate agenda when it comes to attracting and retaining talent, supporting cultural change and driving the sustainability agenda."
The China market poses unique challenges and the China CRE story diverges from global trends in significant ways. To continue to innovate, support growth and rise to increasing C-suite demands, Julien advises China's CRE teams to focus on three major areas:
Julien Zhang concluded: "As C-suite expectations continue to grow in tandem with expanding real estate portfolios in China, CRE teams will need to continue to innovate and be able to take on intensifying demands across many strategic areas. We have seen some great examples of extremely advanced Chinese CRE teams that are moving into property development and monetizing corporate property holdings. This is a very encouraging development and an exciting progress."
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