04 November, 2010
International property adviser DTZ opens its 18th office in Greater China today in Changsha, marking a new chapter of the real estate advisory firm since its arrival in the mainland China market in 1993 and consolidating its service network in the central China region.
Being the capital city of Hunan Province in central China, Changsha shares close economic links with the neighbouring cities of Zhuzhou and Xiangtan and is a key spot of the economic belt along the Yangtze River. With a GDP of RMB374.5 billion as of 2009, Changsha ranked 20 among the top 100 cities in China in terms of GDP amount, and in the same year a record 14 million sq m of commodity housing was sold in Changsha, up 71% from 2008. Changsha is also part of the economic bloc of central Chinese cities led by Wuhan, and it benefits from the increasing economic cooperation with the Pearl River Delta cities.
Edward Cheung, DTZ’s CEO of Mainland China, commented, "Consumption and urbanisation are the two main drivers for China's economy today, and a lot of attention has been cast on second tier cities because of their wealth of development potential. With unique advantages and a competitive edge over cities in the regions of central and western China, Changsha is becoming an emerging real estate market where professional real estate services are in increasing demand. DTZ has long been providing excellent property insight and on-the-ground delivery in China's first tier cities. We are expanding our service network in second tier cities like Changsha, which will further support our reputation as the leading real estate adviser in China."
Spencer Pang, DTZ's Managing Director, Central China, said, "In recent years, Hunan Province participated in the Pan-Pearl River Delta Regional Cooperation and Development Forum, which helps move business opportunities from the coastal area to inner parts of China such as Changsha."
Stephen Yen, DTZ’s General Manager of Wuhan and Changsha offices, said, "Through our latest branch in Changsha, DTZ is dedicated to participating in the development of the real estate market in this important city. The addition of the Changsha office creates synergy with our current offices in Guangzhou and Wuhan and helps bring the best business solution arising from DTZ’s knowledge and experience to our clients in the central China region."
DTZ Changsha office
21/F, Cyber Times, 456 Wuyi Avenue, Changsha, Hunan 410011, China
Tel: +86 731 8559 4650
Fax: +86 731 8552 4409