CBRE Taiwan yesterday launched an evaluation and advisory service as it seeks to advance in the local market.
The expansion came after local commercial and land deals rose to NT$119.3 billion (US$3.8 billion) in the first four months, up 70 percent from the same period last year, bucking a slowdown in GDP growth at home and abroad.
“The new business aims to facilitate the company’s revenue growth and expand its service offerings in Taiwan,” said Tom Edwards, head of CBRE’s global valuation and advisory services.
The establishment of services in Taiwan not only enhances CBRE’s coverage in Asia, but also provides clients with a comprehensive service offering in every market in North Asia, Edwards said.
CBRE Group is the world’s largest commercial real-estate services and investment firm by revenue. It has more than 90,000 employees and investors in more than 480 offices worldwide.
CBRE Taiwan appointed Winston Shih (施甫學) as director to localize its business and Jonson Lee (李智偉) as associate director.
“A certified national appraiser holds great accountability and a high level of integrity when it comes to determining a property’s value,” CBRE Taiwan managing director Cynthia Chu (朱幸兒) said.
With their professional network and track records, Chu said she has confidence in Shih’s and Lee’s ability and vision to grow the business in the Taiwan market.
CBRE has a strong and well-established brand reputation for leading industry platforms and world-class client services, she said.
With the establishment of the business, CBRE Taiwan is equipped to provide an unrivaled client experience and create a competitive advantage, Shih said.
There is strong demand among listed companies and financial services firms for evaluation and advisory services, and the team would leverage its strength and areas of expertise to meet the need, said Shih, who has more than 10 years’ experience in real-estate valuation and consulting.
The use of technology in the property industry is gaining pace, as digital reforms have accelerated globalization, and brought more transparency and accountability to property deals, Lee said.
The team would take advantage of technology innovations such as artificial intelligence applications and big data to help conduct business without abandoning traditional approaches, he said.
Lee has worked on local and regional projects including commercial property, residential, land, real-estate investment trusts, hotels, urban renewals and special valuations.