JLL Named Joint Sole Leasing Agent for HKRI Taikoo Hui
JLL’s Shanghai Markets team was selected by Guanfeng (Shanghai) Real Estate Development to provide joint sole leasing agency service for Shanghai’s HKRI Taikoo Hui Office Buildings.
In 2014, JLL’s Shanghai Markets team was selected by Guanfeng (Shanghai) Real Estate Development to provide joint sole leasing agency service for Shanghai’s HKRI Taikoo Hui Office Buildings. HKRI Taikoo Hui is a large-scale mixed-use development project jointly developed by Hong Kong Industrial and Swire Properties, and is located on Nanjing West Road, the core business district of Jing'an District in central Shanghai. It consists of two Grade A office buildings, one shopping mall, and three hotels/serviced apartments
As the final project to be completed in the redevelopment of Nanjing West Road in the center of Shanghai, HKRI Taikoo Hui’s entry on to the market came at a delicate moment, after a credit crisis caused by financial companies rapidly pushing up marketplace rents. In response to these market changes, JLL's Shanghai Markets team actively adjusted its leasing strategy based on full communication with the owners, prioritizing customer quality, and combining long-term leases to attract a quality tenant mix with good reputation that fits this landmark project on Nanjing West Road.
Thanks to professional service standards and strong client resources, JLL continuously introduced high-quality corporate tenants to the developer, including many Fortune 500 companies and industry leaders. When the project obtained the completion registration for Building 1, the overall occupancy rate reached 52%, and at the completion of Building 1, the lease transactions that JLL had participated in accounted for 40%, with its direct lease transaction accounting for 32%.
Eddie Ng, Managing Director of JLL East China, said: “JLL is very honored to be the joint sole agent of this new landmark project, HKRI Taikoo Hui. As an industry leader, we are committed to providing innovative, tailor-made solutions for our customers from start to finish. We are highly confident that HKRI Taikoo Hui will become another high-quality commercial landmark in Shanghai."