Savills officially opens new Xi'an office in China, accelerating the implementation of the “One Belt, One Road” initiative with top-class team

World-leading real estate services provider Savills officially announced the opening of its new office in Xi'an China, marking a strategic and important step as the firm celebrates its 20th anniversary of business in the Chinese market. Xi'an, home to Savills’ 15th office in China, will undoubtedly provide an important platform for Savills team to participate in the urban development in central and western China along the Silk Road Economic Belt.

2015 is ushering in a golden decade of China-UK relationships, highlighted by Chinese President Xi Jinping's state visit to the UK that has created a number of new opportunities for further cooperation between the two countries.

The opening of Savills Xi'an office has received firm support from both the Chinese and British governments. On 4 November, Lou Qinjian, Governor of Shaanxi Province met with Lord Sassoon, Chairman of the China-Britain Business Council (CBBC), leading the British trade delegation and accompanied by Savills senior executives. Lord Sassoon, Chairman of the CBBC and former Treasury minister; Stephen Philips, CEO of CBBC; Nick Low, Counsellor (Regional Cities) of British Embassy in Beijing and James Bryce, COO of UK Trade & Investment (UKTI), were joined by Lv Hengjun, Director of Xi'an Municipal Bureau of Commerce and Zhang Qin, Deputy Director – General of Xi’an Yanta District to witness the opening of Savills Xi’an office.

Albert Lau, CEO of Savills China, said: “The launch of Xi’an office demonstrates our commitment to grow together with this city. As Savills celebrates its 20th anniversary in China, we will continue to combine an international perspective with local expertise, seeking to provide clients with top-class professional services by introducing advanced international concepts. Through the establishment of the Xi'an office, we are actively responding to the ‘One Belt, One Road’ initiative, while accelerating our exploration in China’s second- and third-tier cities.”

Robert McKellar, CEO of Savills Asia Pacific, made the following statement: “Savills has extensive experience of successful global operation and management; during its two decades of operation in China, Savills has been maintaining close cooperation with the Chinese government and customers with full insight into the local market; as Western China and inland cities are fast emerging, we will continue to favour China’s emerging market by integrating global resources, and continue to grow in China by applying the most advanced concepts and delivering the most specialized services.”

Stephen Phillips, Chief Executive of CBBC said: “at CBBC we are delighted to see Savills opening an office in Xi'an. It is a clear demonstration of the fantastic potential that fast-developing cities such as Xian offer British companies. I would urge more British businesses to follow suit and explore regional markets. There has never been a better time to do and the team at CBBC can help”

International real estate advisor making a presence in Xi'an, a key node along the “One Belt, One Road”

Xi’an economy witnessed stable growth in 2014, recording a 9.9% year-on-year increase in GDP to reach RMB547.4 billion. As the starting point of the ancient Silk Road, Xi’an now faces new development opportunities amid great challenges. In anticipation of potential robust demand in the city and the rest of north-western China, Savills plans to leverage the abundant resources of its western China business platform, particularly the established teams in Chengdu and Chongqing, and continuing to steadily expand its service network across China’s north-west region.

Savills commits itself to providing clients with a full range of property solutions, including pre-development strategy consultation through to property management, leasing, en-block investment, project management and valuation. Savills advises corporate, institutional and private clients across residential, office, retail, hotel, development zone and mixed-use urban development schemes.

Eric Wo, Managing Director of Savills Western China, said: “Xi'an is one of the central cities of northwest China and an important node in the "One Belt, One Road" initiative. The Xi'an market is rapidly embracing international thinking, high quality branded resources and diversified services. Savills hopes to introduce our full-range service line into this city and thereby contribute to the comprehensive upgrading of the Xi’an market, with solid support from Savills core teams.”

Short-term Prospects — Opening of Xi’an office to benefit the market with specialised services

Xi'an, capital of thirteen ancient dynasties, has an unparalleled historical heritage and unique potential as an emerging market. With a sharp sense of the market, Savills anticipates a significant market reform in Xi’an and consequently an increase in demand, which in turn calls for high standard, professional real estate services.

Xi'an will undoubtedly see many new commercial projects as the era of high-quality urban complexes begins. With the launch of Xi’an office, Savills expects to invigorate the city’s real estate industry by introducing advanced concepts and professional advisory services. The new office includes all major business lines, supported by an extensive knowledge of the local market which has been tracked since 2011.

Mid-term Prospects — Full-range of quality services to boost the transformation of the real estate industry

A profound understanding of market trends, supported by comprehensive field research and detailed analysis of the market, enables Savills advisory teams to come up with innovative and practical solutions for their clients. Savills Project & Development Consultancy team has gained valuable experience and resources over the years, with projects including urban complexes, industrial parks and educational parks. They have contributed to the implementation of many large developments in Xi’an, including Xi'an Shimao Plaza, the West Cloud Valley of the Information Industrial Park in Xixian New District and Xi'an Eurasia University.

Savills Retail team has successfully represented a wide variety of retailers including Victoria's Secret, Abercrombie & Fitch, Hollister, Wagas and Element Fresh, with a proven track record of consultancy and leasing services that extends to numerous landmark projects. Similar to experiences in Chengdu and Chongqing, Savills hopes to create a cheerful shopping experience for consumers in the Xi’an market by introducing a wide variety of brands and quality services to the market.

It is worth mentioning that during the "One Belt, One Road" Cooperation Exchange Conference, our retail service team signed cooperation agreements with Maike Group and Lan Haifeng Investment Management Co. Ltd to provide pre-development consultancy and leasing services for Maike Commercial Centre and Lan Haifeng Centre - both mixed-use projects. Discussions are underway concerning management services at post-development stages. The team has also been appointed by Shaanxi Tourism Corporation Group to provide retail consultancy services for Western City Memory - a mixed-use urban lifestyle project in Xi’an.

Savills property consultancy and asset management teams include experienced elites recognised for their strength in maximising asset value through customised property services in flexible cooperation models. The teams are currently working with Xi'an Metro Real Estate to provide pre-development consultancy services to MOMO Park, a mixed-use project located above Jixiang Village metro station (line 3). They have also reached a cooperation agreement with Shaanxi Hua Dilong Co. Ltd to provide consultancy services for their projects.

Long-term Prospects — Growing with the city and expanding across the region

The history of Savills dates back to 1855 in the UK. Starting 160 years ago as a professional advisor to local royal families in London, Savills has now developed into a world-leading real estate advisory firm, maintaining drive and vitality from a rich heritage and an innovative culture. Its vision has always been becoming the real estate advisor of choice in the markets we serve. While unprecedented changes are taking place not only in the property industry, but also in cities and across the whole country, Savills readily commits itself to participate in Xi’an urban development by providing first-class professional services.