When Completed in 2015, Iconic Tower Will be One of the Most Renowned Commercial Properties in China and Around the World.
CBRE Group Inc. (NYSE:CBG) announced that it has been selected by Shanghai Tower Construction & Development Co., Ltd. to provide property management consultancy services for the iconic Shanghai Tower—a 2,073-ft. (632-m.) super-tall skyscraper currently under construction in the Lujiazui district of Shanghai, China. When completed in 2015, the 6.18 million-sq.-ft. (574,000-sq.-m.) mixed-use tower will be one of the most renowned commercial properties in China and around the world.
“Shanghai Tower will be one of the most prestigious properties we have ever managed, and a symbol of China’s distinguished position in the global economy,” said Brett White, Chief Executive Officer of CBRE. “We look forward to working with Chairman Kong Qing Wei and his team to establish the highest-caliber services for this world-class asset. Together, we will make Shanghai Tower one of the most desirable corporate and retail destinations in the world.”
“Shanghai Tower is not only designed to international standards, but it also strives to adopt a best-in-class approach to operational management. CBRE’s property management services, supported by international best practices and wide ranging industry expertise, will enable Shanghai Tower to achieve the highest level of property management. We hope that both parties will collaborate closely to jointly pursue ‘the highest, noblest and most exquisite’ development objectives associated with Shanghai Tower,” said Kong Qing Wei, Chairman of Shanghai Tower.
CBRE will initially serve as consultant to Shanghai Tower Construction & Development in developing property management and building operations strategies for Shanghai Tower. Upon completion of construction, CBRE will assume property management consultancy responsibilities in relation to the tower. As part of its engagement, CBRE has assembled an integrated, international team of professionals who will provide advice based on best-in-class practices developed at similar CBRE-managed assets worldwide.
Designed by Gensler, Shanghai Tower will feature high-quality office space, a luxury hotel, a world-class retail complex, an observation deck, and other entertainment and cultural venues. The tower will also be one of the most advanced super-tall skyscrapers in the world in terms of sustainability, designed to achieve both LEED® Gold certification and the China Green Building Three Star rating. The tower will anchor Shanghai’s Lujiazui district, which is rapidly emerging as one of the leading financial centers in East Asia.
The CBRE team responsible for this assignment includes Chris Brooke, President and Chief Executive Officer, China; Sam Cuccurullo, Executive Managing Director, Asset Services, Asia Pacific; Tony Long, President, Global Asset Services; Mary Ann Tighe, Chief Executive Officer, New York Tri-State; and Andy To, Executive Director, Asset Services, China.
