JLL Assists Chengdu Galleria Complete Investment Transaction

On behalf of BlackRock, JLL successfully sold Chengdu Galleria to CapitaLand Commercial China Trust (CRCT) for RMB 1.5 billion. This was the second time since 2011 that JLL had successfully contributed to an investment transaction for this landmark retail property.

Officially opened in late November 2016, Central Tower conveniently is located on the main axis of Guangzhou’s Pearl River New Town, and currently ranks among the office buildings with the highest rate of foreign tenants in the area.

Kaihua Corporation Limited (KHC) and the management team of Central Tower aim has always been to provide the best services for both tenants and visitors, and the combination of the building’s high-end hardware and first-class facilities have created a top-level international office space and improved the standard of office buildings throughout Pearl River New City and mainland China.

Many of Central Tower’s tenants are foreign enterprises which have high demands when it comes to the quality of an office building.  When choosing their office location, these companies have a very strict set of criteria for judging the region, location, property, facilities, and business circle effect. With this in mind, KHC invited JLL to bring in its Premier Property Service to provide them with a the best-quality office-leasing experience.

JLL’s professionalism was not only demonstrated through its forward-thinking at the planning level, but also in the practical assistance offered, which drew on its wealth of experience in providing international-level services. The authentic Premier Property Service pioneers six modern service standards, which are detailed, personalized, cutting-edge, meticulous, strategic and high-quality. 24-hour remote monitoring, as well as an Intelligent Management System were used to provide tenants with a safe, professional, elite office experience. Using our own experience, we also provided tailored services to tenants from specific industries, such as finance, professional consulting, and the service industry. 

JLL’s authentic Premier Property Service is also committed to providing customer with the most meticulous level of service by watching for blind spots that clients may have overlooked. Besides meeting clients’ basic service needs, it also focuses on providing a variety of unexpected services with a human touch. Night shift taxi escorts, complimentary bags of daily necessities, and the celebrations of foreign companies’ national holidays and festivals are a few good examples. At the opening ceremony a tenant representative pointed out that a company’s choice of location should take in to account all aspects of its staff’s needs, and that attention to detail in terms of the level of service provided is often an important factor affecting the final choice of location.

The outstanding quality and personal touches provided by Central Tower, combined with JLL’s Premier Property Service, led to highly satisfactory results on the leasing market. In 2016 and 2017, the last wave of office building stock to come online in the Pearl River New Town CBD ushered in a final peak in supply. In the context of the homogenization of offerings in the region, it is remarkable that Central Tower’s property management team still managed to attract a large number of high-quality tenants under such challenging market conditions, especially foreign enterprise who have such high demands when it comes to office services. 

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