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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