Wed, Jan 13, 2010 - Page 12 News List

Savills launches management arm

By Joyce Huang  /  STAFF REPORTER

Savills (Taiwan) Ltd (第一太平戴維斯) yesterday formed a property management arm with initial working capital of NT$10 million (US$315,000) to tap into the nation’s management services market for luxury homes and upscale commercial properties, mostly in Taipei and Taichung.

“We will aim at [providing management services to] luxury homes worth more than NT$1 million per ping [3.2m²], or commercial properties with a minimum floor space of 5,000 ping each,” Savills Taiwan general manager Cynthia Chu (朱幸兒), who also doubles as the 10-member management arm’s general manager, told a media briefing yesterday.

The newly launched subsidiary has won contracts to manage the 14-story Buffet Enterprise Center in downtown Taipei, built by Fabulous Group (將捷集團), and chemical manufacturer Loyal Group’s (見龍集團) 12-story headquarter building in Neihu, she said, adding that the company charges between NT$110 and NT$280 per ping monthly for property management services.

By leveraging the group’s ­property management expertise in China, Chu yesterday vowed to expand the subsidiary’s workforce to 40 by the end of this year to manage a total of 20 properties here.

Savills China provides management services in areas including security, housekeeping, chauffeur, catering and entertainment to properties totaling 11.82 million square meters, including the seven-star ­Beijing-based landmark Pangu Plaza (盤谷大觀), which boasts a management service charge of about 50 yuan (US$7.32) per square meter.

Claiming to be an industry leader in property management, the ­realtor’s chief executive officer in the greater China region, Randall Hall, said yesterday he was confident in the local market’s potential.

“The new initiatives in [financial] MOU [memorandum of understanding] and ECFA [economic cooperation framework agreement] will present both Taiwan and China unlimited business opportunities,” he told a media briefing yesterday.

He earmarked a three-year goal for the local property management arm to take up a more than 30 percent share of Savills Taiwan’s annual revenues.

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