Supporting State-Owned Financial Institutions

PICC Asset Management was founded in 2003 as the first domestic insurance asset management company set up by PICC (Stock Code SEHK: 1339). As one of the most important institutional investors active in China's capital market, due to the continuous development and expansion of its business, its headquarters in Shanghai were eventually no longer able to meet the demands of the company’s business operations. It was at this point that the Tenant Representative team of JLL’s Shanghai Commercial Property Department was exclusively appointed to assist in relocating PICC Asset Management’s headquarters.

“With the continuous marketisation of state-owned enterprises as well as innovations in corporate governance, many large-scale state-owned enterprises, including PICC Asset Management, have increasingly higher demands in regard to the services offered by commercial properties. The high-level professional services provided by JLL is being recognized and welcomed by more and more large-scale state-owned enterprises.” Anny Zhang, Head of Markets at JLL Shanghai

Following several rounds of communication to fully understand the client’s specific needs, we actively assisted them to objectively analyze the market environment. This allowed them to clearly identify market opportunities, and to formulate and implement the best negotiation strategies. We eventually assisted PICC Asset Management to become a major tenant occupying the 20th-22nd floors of the in-demand Century Link Tower in Shanghai’s Pudong District.

This was the first time since its inception that PICC Asset Management chose to use a professional real estate consultancy company for office relocation consultancy services. This successful cooperation with PICC is another clear example of JLL’s long-term strategy of serving outstanding local enterprises in China.