Cushman & Wakefield is pleased to announce that it has been ranked as the No. 1 real estate investment brokerage firm in mainland China by MSCI in their Global Broker Rankings 2023 report.
According to MSCI, Cushman & Wakefield represented 49% of all-sector real asset investment brokerage transactions, worth US$2.07 billion, in mainland China in 2023. In addition, the firm represented 75% and 72% of investment brokerage transactions for office and retail properties in mainland China, respectively, securing the top spot for both sectors. MSCI also confirmed that Cushman & Wakefield was ranked No. 1 for Taiwan development site transactions in 2023.
KK Chiu, Chief Executive, Greater China at Cushman & Wakefield, said, “MSCI’s Global Broker Rankings is a critical report in the commercial real estate brokerage industry. We are thrilled that Cushman & Wakefield has again achieved an outstanding performance in 2023. In the past year, we’ve seen strong interest from domestic companies in acquiring quality office assets for self-use. Our team’s profound knowledge of the rapid-changing markets, as well as deep connections with local investors and developers, ensure we are well positioned at the forefront of the Greater China real estate investment market, and equipped to serve our clients with unrivalled excellence in the years ahead.”
According to the latest data* from MSCI, office assets remained as the largest transacted sector in mainland China in 2023, accounting for 29% of the total transaction volume, followed by industrial and retail properties. In China, high-quality office assets, especially in first-tier cities, are highly sought after by institutional investors and end-user buyers.
Francis Li, Vice President, Greater China, Head of Capital Markets, Greater China at Cushman & Wakefield, added, “In 2023, domestic end-user buyers were very active, accounting for over half of the total office and business parks transaction volume in mainland China. At the same time, end-user buyers are also actively expanding their footprint in Hong Kong. In January 2024, we successfully assisted Li Ning, a well-known sports brand in China, to acquire Harbour East as their headquarters building in Hong Kong for HK$2.2 billion. This transaction is the largest transaction in the Hong Kong office market since the beginning of 2024 to date.”
Jonathan Wei, President, Project & Occupier Services, China at Cushman & Wakefield, concluded, “Over the past year, high-quality office assets located in first- and strong second-tier cities were highly sought after by end-user buyers in China. Looking ahead, high-growth industries such as life sciences and new energy vehicles, will continue to thrive, driven by government support. At the same time, as the TMT industry adjustment gradually comes to an end, demand for office buildings from major hi-tech companies is expected to pick up, which will drive the recovery of the overall office market in 2024.”
MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data and technology, MSCI power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. MSCI create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process.
*Based on MSCI data as of 8 March, 2024, excluding development sites.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2023, the firm reported revenue of $9.5 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
