pb 1 jul 2020 · corporate real estate services, property management, leasing, valuation and sales...
TRANSCRIPT
REPORT
Savills Research
Asia Pacifi c – July 2020
Prime Benchmark
Prime Benchmark
2savills.com/research
*Associate Office
AustraliaAdelaideBrisbaneCanberraGold Coast GordonLindfieldMelbourneNotting HillParramattaPerthSunshine CoastSouth SydneySydney
CambodiaPhnom Penh *
ChinaBeijingChangshaChengduChongqingDalianFuzhouGuangzhouHaikouHangzhouNanjingShanghaiShenyangShenzhenTianjin WuhanXiamenXi’anZhuhai
Hong Kong SARCentral Quarry Bay (3)Tsim Sha Tsui
IndiaBangaloreChennaiGurgaonMumbaiPuneHyderabad
IndonesiaJakarta
JapanTokyo
Macau SARMacau
MalaysiaJohor BahruKuala LumpurPenang
New ZealandAucklandChristchurch
PhilippinesMakati City *Bonifacio Global City *
SingaporeSingapore (3)
South KoreaSeoul
Taiwan, ChinaTaichungTaipei
ThailandBangkok
VietnamDa nangHanoiHo Chi Minh City
48Offices
Asia
14Offices
Australia &New Zealand
2
3
5
Asia Pacific OfficesSavills
Prime Benchmark
Comprehensive Services
Innovative Thinking
Asset Management
Facilities Management
Hotels
Industrial Services
Investment and Sales
International Residential
Occupier Services
Offi ce Services
Project Management
Property Management
Research and Consultancy
Residential Services
Retail Services
Valuation and Professional Services
Serviced Apartment Services
Assumptions: 1) 1 sq m = 10.7639 sq ft/0.3025 ping/0.3025 tsubo 2) As of 30 Jun 2020, USD/RMB = 7.0814; USD/HKD = 7.7504; USD/NTD = 29.411; USD/JPY = 107.82; USD/KRW = 1,199.55; USD/SGD = 1.393; USD/MYR = 4.2817; USD/VND = 23,289.4; USD/AUD = 1.3063; USD/PHP = 49.78; USD/IDR = 14,263.8
This report has been prepared to provide a benchmark of occupancy costs of selective prime properties in various cities in Asia, inclusive of rents, management fees and government taxes/rates. Except for the hotel sector, all the costs are quoted on a net fl oor area basis per month, which is defi ned as the fl oor area exclusively allocated to a unit, excluding common areas. As only a small basket of 5 to 10 prime buildings are monitored in each sector, the rental data and occupancy costs reported in this publication might be higher than the average market fi gures being reported elsewhere. Given varying local market practices, necessary assumptions and judgments are made by our real estate professionals in local offi ces to achieve comparable results among the diff erent cities.
3
Savills is a leading global real estate service provider listed on the London Stock Exchange. The company, established in 1855, has a rich heritage with unrivalled growth. The company now has over 600 offi ces and associates throughout the Americas, Europe, Asia Pacifi c, Africa and the Middle East. In Asia Pacifi c, Savills has 62 regional offi ces comprising over 29,000 staff . Asia Pacifi c markets include Australia, China, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, New Zealand, Singapore, South Korea, Taiwan,
Thailand and Viet Nam. Savills provides a comprehensive range of advisory and professional property services to developers, owners, tenants and investors. These include consultancy services, facilities management, space planning, corporate real estate services, property management, leasing, valuation and sales in all key segments of commercial, residential, industrial, retail, investment and hotel property. A unique combination of sector knowledge and entrepreneurial fl air
gives clients access to real estate expertise of the highest calibre. We are regarded as an innovative-thinking organisation supported by excellent negotiating skills. Savills chooses to focus on a defi ned set of clients, off ering a premium service to organisations and individuals with whom we share a common goal. Savills is synonymous with a high-quality service off ering and a premium brand, taking a long-term view of real estate and investing in strategic business relationships.
Prime Benchmark
MARKET CYCLE
TOTAL OCCUPANCY (TOP 5 AVERAGE COST)
TOTAL COSTUS$ PSM NET PM
RENT(US$ PSM NET EFF PM)
MANAGEMENT FEE(US$ PSM NET PM)
GOV’T RATES/TAX(US$ PSM NET PM)
US$ PSM NET PM
HONG KONG
267.1237.118.211.9
SINGAPORE
98.198.1INCLUSIVEINCLUSIVE
SHENZHEN
56.651.25.4INCLUSIVE
BEIJING
110.1102.77.4INCLUSIVE
SYDNEY
81.178.50.62.1
GUANGZHOU
49.243.26.1INCLUSIVE
MANILA
36.930.74.02.2
TOKYO
171.6156.0INCLUSIVE15.6
SHANGHAI
81.372.19.2INCLUSIVE
MELBOURNE
49.244.21.63.4
BRISBANE
48.144.40.63.1
SEOUL
103.578.724.8INCLUSIVE
TAIPEI
72.164.34.63.2
JAKARTA
34.023.17.83.1
KUALA LUMPUR
24.624.6INCLUSIVEINCLUSIVE
LATE UPSWING
EARLY DOWNSWING
LATE DOWNSWING
EARLY UPSWING
TOKYOOSAKATAIPEI
HO CHI MINH CITYMANILA
HONG KONGBEIJINGSEOUL
SHANGHAISYDNEY
SHENZHENMELBOURNEGUANGZHOU
BRISBANEHANOI
KUALA LUMPURSINGAPORE
JAKARTA MANILA
OFFICES
HANOI
41.630.58.03.1
OSAKA
101.892.6INCLUSIVE9.3
HO CHI MINH CITY
61.449.86.65.0
0 50 100 150 200 250 300
HONG KONG
TOKYO
BEIJING
SEOUL
OSAKA
SINGAPORE
SHANGHAI
SYDNEY
TAIPEI
HO CHI MINH CITY
SHENZHEN
MELBOURNE
GUANGZHOU
BRISBANE
HANOI
MANILA
JAKARTA
KUALA LUMPUR
4savills.com/research
Prime Benchmark
-11.5%-12.0%
1.5%0.7%
-2.7%-1.1%
3.1%2.6%
2.0%1.2%
-5.3%-1.9%
-6.4%-4.8%
-2.1%0.0%
2.8%1.1%
0.0%0.5%
-4.1%-2.4%
-2.1%0.0%
-5.0%-3.4%
-7.4%-5.4%
2.1%2.6%
3.0%1.2%
-1.4%1.3%
-4.5%0.0%
COST CHANGESJAN TO JUN 2020
TOTAL OCCUPANCY COST1H 2009 TO 1H 2020
Rental changes in US$
Rental changes in local currency
US
$ P
SM
NE
T P
M
OFFICES
TOKYO
SYDNEY
Source Savills Research & Consultancy
HONG KONG
TOKYO
BEIJING
SEOUL
OSAKA
SINGAPORE
SHANGHAI
SYDNEY
TAIPEI
HO CHI MINH CITY
SHENZHEN
MELBOURNE
GUANGZHOU
BRISBANE
HANOI
MANILA
JAKARTA
KUALA LUMPUR
-15% -10% -5% 0% 5%
BEIJING
SEOUL
SHANGHAI
SINGAPORE
TAIPEI
HO CHI MINH CITY
HONG KONG
KUALA LUMPUR
0
50
100
150
200
250
300
350
1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
5
Prime Benchmark
MARKET CYCLE
TOTAL OCCUPANCY (TOP 5 AVERAGE COST)
TOTAL COSTUS$ PSM NET PM
RENT(US$ PSM NET EFF PM)
MANAGEMENT FEE(US$ PSM NET PM)
GOV’T RATES/TAX(US$ PSM NET PM)
HONG KONG
834.6764.332.038.2
BEIJING
305.7293.711.9INCLUSIVE
SEOUL
179.2163.016.2INCLUSIVE
SINGAPORE
437.2437.2INCLUSIVEINCLUSIVE
OSAKA
254.6231.5INCLUSIVE23.1
KUALA LUMPUR
164.0164.0INCLUSIVEINCLUSIVE
HANOI
77.270.2INCLUSIVE7.0
TOKYO#
524.6477.0INCLUSIVE47.7
SYDNEY
255.4255.4INCLUSIVEINCLUSIVE
MELBOURNE
174.3168.91.53.9
HO CHI MINH CITY
130.4110.58.911.1
SHANGHAI
347.6335.112.5INCLUSIVE
TAIPEI
229.6206.712.510.3
MANILA
48.940.65.52.8
LATE UPSWING
EARLY DOWNSWING
LATE DOWNSWING
EARLY UPSWING
TOKYOOSAKA
HONG KONGSHANGHAI
GUANGZHOUBEIJINGSYDNEYTAIPEI
MELBOURNEKUALA LUMPUR
SINGAPOREHANOI
MANILAHO CHI MINH CITY
SEOULSHENZHENJAKARTA
HO CHI MINH CITY
PRIME RETAIL MALLS
JAKARTA
107.482.714.99.8
GUANGZHOU
323.3314.98.4INCLUSIVE
SHENZHEN
210.7195.415.3INCLUSIVE
US$ PSM NET PM
0 100 200 300 400 500 600 700 800 900
HONG KONG
TOKYO
SINGAPORE
SHANGHAI
GUANGZHOU
BEIJING
SYDNEY
OSAKA
TAIPEI
SHENZHEN
SEOUL
MELBOURNE
KUALA LUMPUR
HO CHI MINH CITY
JAKARTA
HANOI
MANILA
6savills.com/research
Prime Benchmark
COST CHANGESJAN TO JUN 2020
TOTAL OCCUPANCY COST1H 2009 TO 1H 2020
PRIME RETAIL MALLS
-18.8%-19.2%
-4.9%-5.6%
-9.7%-6.5%
-1.8%-0.2%
-1.7%0.0%
-4.3%-2.7%
-14.2%-12.4%
0.7%0.0%
-6.7%-5.1%
-0.4%-2.1%
-6.8%-3.2%
-13.4%-11.5%
-4.5%0.0%
-5.2%-2.6%
-2.1%-1.6%
-0.3%0.2%
-0.4%-2.1%
HONG KONG
TOKYO
SINGAPORE
SHANGHAI
GUANGZHOU
BEIJING
SYDNEY
OSAKA
SHENZHEN
TAIPEI
SEOUL
MELBOURNE
KUALA LUMPUR
JAKARTA
HO CHI MINH CITY
HANOI
MANILA
-15% -10% -5% 0%
Rental changes in US$
Rental changes in local currency
US
$ P
SM
NE
T P
M
0
200
400
600
800
1,000
1,200
1,400
1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Source Savills Research & Consultancy
BEIJING
TOKYO
SHANGHAI
SEOUL
TAIPEI
MELBOURNE
HONG KONG
SINGAPORE
7
Prime Benchmark
MARKET CYCLE
TOTAL OCCUPANCY (TOP 5 AVERAGE COST)
TOTAL COSTUS$ PSM NET PM
RENT(US$ PSM NET EFF PM)
MANAGEMENT FEE(US$ PSM NET PM)
GOV’T RATES/TAX(US$ PSM NET PM)
LATE UPSWING
EARLY DOWNSWING
LATE DOWNSWING
EARLY UPSWING
TOKYOOSAKA
HONG KONG SINGAPORESHANGHAI
BEIJINGSHENZHEN
MANILAGUANGZHOU
TAIPEISYDNEY
KUALA LUMPUR
LUXURY APARTMENTS
HONG KONG
99.383.911.34.2
BEIJING
34.334.3INCLUSIVEINCLUSIVE
MANILA
22.022.0INCLUSIVEINCLUSIVE
SINGAPORE
37.137.1INCLUSIVEINCLUSIVE
TAIPEI
30.626.62.61.3
KUALA LUMPUR
7.67.6INCLUSIVEINCLUSIVE
TOKYO
80.780.7INCLUSIVEINCLUSIVE
OSAKA
31.831.8INCLUSIVEINCLUSIVE
GUANGZHOU
20.219.40.8INCLUSIVE
SHANGHAI
35.735.7INCLUSIVEINCLUSIVE
SHENZHEN
26.226.2INCLUSIVEINCLUSIVE
US$ PSM NET PM
0 20 40 60 80 100 120
HONG KONG
TOKYO
SINGAPORE
SHANGHAI
BEIJING
OSAKA
TAIPEI
SHENZHEN
MANILA
GUANGZHOU
KUALA LUMPUR
8savills.com/research
Prime Benchmark
COST CHANGESJAN TO JUN 2020
TOTAL OCCUPANCY COST1H 2009 TO 1H 2020
US
$ P
SM
NE
T P
M
LUXURY APARTMENTS
BEIJING
TOKYO
SHANGHAI
SINGAPORE
HONG KONG
-1.8%-2.3%
0.1%-0.7%
-3.6%-0.2%
-3.9%-2.2%
-3.1%-1.5%
1.6%0.9%
-1.5%-3.2%
-8.8%-7.3%
0.3%-1.5%
-3.4%-1.8%
-10.2%-6.0%
HONG KONG
TOKYO
SINGAPORE
SHANGHAI
BEIJING
OSAKA
TAIPEI
SHENZHEN
MANILA
GUANGZHOU
KUALA LUMPUR
-10% -8% -6% -4% -2% 0% 2%
Rental changes in US$
Rental changes in local currency
0
20
40
60
80
100
120
140
1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Source Savills Research & Consultancy
9
Prime Benchmark
MARKET CYCLE
TOTAL OCCUPANCY (TOP 5 AVERAGE COST)
TOTAL COSTUS$ PSM NET PM
RENT(US$ PSM NET EFF PM)
MANAGEMENT FEE(US$ PSM NET PM)
GOV’T RATES/TAX(US$ PSM NET PM)
LATE UPSWING
EARLY DOWNSWING
LATE DOWNSWING
EARLY UPSWING
SHENZHEN
HONG KONGSHENZHEN
GUANGZHOUBEIJING
SHANGHAI
SINGAPORE
SINGAPOREGUANGZHOU
PRIME VILLAS/TOWNHOUSES
HONG KONG
106.890.112.24.5
SHANGHAI
26.426.4INCLUSIVEINCLUSIVE
GUANGZHOU
32.932.9INCLUSIVEINCLUSIVE
SHENZHEN
36.536.5INCLUSIVEINCLUSIVE
BEIJING
25.925.9INCLUSIVEINCLUSIVE
SINGAPORE
31.631.6INCLUSIVEINCLUSIVE
US$ PSM NET PM
0 20 40 60 80 100 120
HONG KONG
SHENZHEN
GUANGZHOU
SINGAPORE
SHANGHAI
BEIJING
10savills.com/research
Prime Benchmark
COST CHANGESJAN TO JUN 2020
US
$ P
SM
NE
T P
M
PRIME VILLAS/TOWNHOUSES
BEIJING
HONG KONG
SHANGHAI
SINGAPORE
SHENZHENGUANGZHOU
-8.2%-8.7%
-3.4%-1.7%
-1.8%-0.1%
-3.5%0.0%
-0.3%+1.4%
-3.7%-2.0%
HONG KONG
SHENZHEN
GUANGZHOU
SINGAPORE
SHANGHAI
BEIJING
-10% -8% -6% -4% -2% 0% 2%
Rental changes in US$
Rental changes in local currency
0
20
40
60
80
100
120
140
160
1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
TOTAL OCCUPANCY COST1H 2009 TO 1H 2020
Source Savills Research & Consultancy
11
Prime Benchmark
MARKET CYCLE
TOTAL OCCUPANCY (TOP 5 AVERAGE COST)
TOTAL COSTUS$ PSM NET PM
RENT(US$ PSM NET EFF PM)
MANAGEMENT FEE(US$ PSM NET PM)
GOV’T RATES/TAX(US$ PSM NET PM)
LATE UPSWING
EARLY DOWNSWING
LATE DOWNSWING
EARLY UPSWING
TOKYOOSAKAHANOI
HONG KONGMANILA
SINGAPORESHANGHAI
BEIJINGSHENZHEN
GUANGZHOUHO CHI MINH CITY
SEOULTAIPEI
KUALA LUMPUR
HANOISINGAPORE
LUXURY SERVICED APARTMENTS
HONG KONG
107.1107.1INCLUSIVEINCLUSIVE
SINGAPORE
78.978.9INCLUSIVEINCLUSIVE
GUANGZHOU
34.534.5INCLUSIVEINCLUSIVE
MANILA
100.086.05.68.3
BEIJING
53.453.4INCLUSIVEINCLUSIVE
HO CHI MINH CITY
29.727.1INCLUSIVE2.5
TOKYO
105.5105.5INCLUSIVEINCLUSIVE
SHANGHAI
55.455.4INCLUSIVEINCLUSIVE
TAIPEI
32.227.53.21.4
KUALA LUMPUR
9.59.5INCLUSIVEINCLUSIVE
OSAKA
98.598.5INCLUSIVEINCLUSIVE
SHENZHEN
46.146.1INCLUSIVEINCLUSIVE
SEOUL
80.673.2INCLUSIVE7.3
HANOI
39.936.2INCLUSIVE3.6
US$ PSM NET PM
0 20 40 60 80 100 120
HONG KONG
TOKYO
MANILA
OSAKA
SEOUL
SINGAPORE
SHANGHAI
BEIJING
SHENZHEN
HANOI
GUANGZHOU
TAIPEI
HO CHI MINH CITY
KUALA LUMPUR
12savills.com/research
Prime Benchmark
TOTAL OCCUPANCY COST1H 2009 TO 1H 2020
US
$ P
SM
NE
T P
M
LUXURY SERVICED APARTMENTSCOST CHANGESJAN TO JUN 2020
-15% -10% -5% 0% 5%
Rental changes in US$
Rental changes in local currency
HONG KONG
TOKYO
MANILA
OSAKA
SEOUL
SINGAPORE
SHANGHAI
BEIJING
SHENZHEN
HANOI
GUANGZHOU
TAIPEI
HO CHI MINH CITY
KUALA LUMPUR
-6.1%-6.6%
1.4%0.7%
7.5%5.6%
0.7%-0.1%
-11.6%-8.2%
-15.5%-12.5%
-4.8%-3.1%
-1.9%-0.2%
-9.5%-8.0%
-1.0%-0.5%
-16.5%-15.1%
-3.3%-4.9%
-1.0%-0.5%
-10.8%-6.7%
0
20
40
60
80
100
120
140
160
180
1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
BEIJING
TAIPEI
SHANGHAI
TOKYO
SHENZHEN
SINGAPORE
GUANGZHOU
SEOUL
HONG KONG
Source Savills Research & Consultancy
HANOI
13
Prime Benchmark
MARKET CYCLE
TOTAL OCCUPANCY (TOP 5 AVERAGE COST)
TOTAL COSTUS$ PER ROOM PER NIGHT
LATE UPSWING
EARLY DOWNSWING
LATE DOWNSWING
EARLY UPSWING
TOKYOSINGAPORE
OSAKA
HONG KONGTOKYOOSAKA
SINGAPORESYDNEYMANILA
KUALA LUMPURTAIPEI
SHENZHENBEIJING
GUANGZHOUSEOUL
MELBOURNE
SHANGHAIHO CHI MINH CITY
HANOI
MELBOURNEHANOI
HOTELS
TOKYO
648.8
HONG KONG
307.2
MELBOURNE
223.4
OSAKA
369.0
BEIJING
239.4
SYDNEY
194.7
GUANGZHOU
155.5
SINGAPORE
441.4
TAIPEI
287.9
SHENZHEN
214.1MANILA
191.9
SEOUL
317.9
SHANGHAI
238.9
HO CHI MINH CITY
124.0KUALA LUMPUR
113.4HANOI
112.4
US$ PER ROOM PER NIGHT
0 100 200 300 400 500 600 700
TOKYO
SINGAPORE
OSAKA
SEOUL
HONG KONG
TAIPEI
BEIJING
SHANGHAI
MELBOURNE
SHENZHEN
SYDNEY
MANILA
GUANGZHOU
HO CHI MINH CITY
KUALA LUMPUR
HANOI
14savills.com/research
Prime Benchmark
TOTAL OCCUPANCY COST1H 2009 TO 1H 2020
US
$ P
ER
RO
OM
PE
R N
IGH
T
HOTELS
BEIJING
HO CHI MINH CITY
SHANGHAI
HANOI
TOKYO
SYDNEY
HONG KONG
SINGAPORE
COST CHANGESJUN 2020 YOY
-40% -35% -30% -25% -20% -15% -10% -5% 0%
Rental changes in US$
Rental changes in local currency
TOKYO
SINGAPORE
OSAKA
SEOUL
HONG KONG
TAIPEI
BEIJING
SHANGHAI
MELBOURNE
SHENZHEN
SYDNEY
MANILA
GUANGZHOU
HO CHI MINH CITY
KUALA LUMPUR
HANOI
-16.6%-16.5%
-8.9%-6.2%
-16.6%-16.5%
-16.0%-9.5%
-33.6%-34.1%
-9.0%-13.7%
-12.6%-10.3%
-8.4%-6.0%
-10.6%-8.7%
-28.9%-27.1%
-28.1%-26.6%
-40.2%-41.8%
-13.5%-11.2%
-20.2%-20.3%
-18.4%-15.6%
-33.8%-33.8%
0
100
200
300
400
500
600
700
800
900
1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Source Savills Research & Consultancy
OSAKA
MANILA
SEOUL
15
Prime Benchmark
NOTES PAGE
16savills.com/research
Prime Benchmark
NOTES PAGE
17
Prime Benchmark
NOTES PAGE
18savills.com/research
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CHINAHONG KONG SARSavills (Hong Kong) Limited23/F Two Exchange Square, Central, Hong Kong
Tel: +852 2842 4534 Fax: +852 3007 2458
Contact: Raymond Lee E-mail: [email protected]
EA Co. Licence: C-002450
Savills Valuation and Professional Services Limited1204-08 Cityplaza One, 1111 King's Road, Taikoo Shing,
Hong Kong
Tel: +852 2840 4806 Fax: +852 3007 4523
Contact: Charles Chan E-mail: [email protected]
EA Co. Licence: C-023750
Savills Property Management Holdings Limited805-13 Cityplaza One, 1111 King’s Road, Taikoo Shing,
Hong Kong
Tel: +852 2534 1688 Fax: +852 2508 1883
Contact: Johnnie Chan E-mail: [email protected]
EA Co. Licence: C-002993
Savills Guardian (Holdings) Limited7/F Cityplaza One, 1111 King’s Road, Taikoo Shing,
Hong Kong
Tel: +852 2512 1838 Fax: +852 2887 3698
Contact: Johnnie Chan E-mail: [email protected]
EA Co. Licence: C-002993
MACAU SARSavills - Macau Savills (Macau) Limited
Suite 1309-10, 13/F Macau Landmark,
555 Avenida da Amizade, Macau
Tel: +853 8506 6288 Fax: +853 2878 1805
CHINA Savills - Shanghai25/F Two ICC, 288 South Shaanxi North Road,
Xuhui District, Shanghai 200031, China
Tel: +86 21 6391 6688 Fax: +86 21 6391 6699
Contact: Siu Wing Chu E-mail: [email protected]
Savills - Beijing2101 East Tower, Twin Towers, B-12 Jianguomenwai Avenue,
Chaoyang District, Beijing 100022, China
Tel: +86 10 5925 2288 Fax: +86 10 5925 2299
Contact: Anthony McQuade
E-mail: [email protected]
Guangzhou, Haikou, Hangzhou, Nanjing, Shanghai, Shenyang,
Shenzhen, Tianjin, Wuhan, Xiamen, Xi’an and Zhuhai
ASIASavills - India
DLF Cyber City, Sector 24, Gurgaon, 122002
Tel: +91 124 631 0000
Contact: Anurag Mathur Email: [email protected]
Savills, the international real estate advisor established in the UK since 1855 with a network of over 650 offices and associates globally.
ASIA PACIFIC HEADQUARTERS23/F Two Exchange Square, Central, Hong Kong
Tel: +852 2842 4400 Fax: +852 2868 4386
contract; interested parties should seek independent professional advice from lawyer, accountant and surveyor and should not rely on the statements or representations herein but must satisfy themselves by inspection or otherwise as to the accuracy,
completeness and correctness of the contents hereto. No warranties or representations whatsoever is given by Savills in respect of the contents hereto. Savills cannot be held responsible for any liability whatsoever or for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this document. This publication may not be reproduced in any form or in any manner, in part or as a whole without written permission of the publisher, Savills. © Savills (Hong Kong)
Limited. 2020
CEO, Greater ChinaContact: Raymond Lee E-mail: [email protected]
Contact: Robert McKellar E-mail: [email protected]
CEO, Australia & New ZealandContact: Paul Craig E-mail: [email protected]
Contact: Christian Mancini E-mail: [email protected]
Contact: Tim Robinson E-mail: [email protected]
CEO, IndiaContact: Anurag Mathur E-mail: [email protected]
CEO, South East AsiaContact: Christopher Marriott E-mail: [email protected]
Regional Managing Director, Professional Services, Asia
ASIA PACIFIC EXECUTIVE COMMITTEE
23/F, Two Exchange SquareCentral, Hong Kong