“We chose to open an office in Xiamen due to the growth of its economy, and the strong demand for real estate services here”, said Mr. Randall Hall, CEO of Savills Greater China. “The continued development of cross-strait relations has elevated Xiamen’s status in China. At present, more than 8,000 multinational corporations have established their presence in Xiamen, and there are almost 500 projects invested by foreign funds in 2007, with total value of US$ 3.3 billion.”

Xiamen’s Gross Domestic Product (GDP) in 2007 was RMB 138.78 billion (approx. US$ 20.41 billion), an increase of 16.6 per cent from the previous year. Modern services, advanced manufacturing and high-tech industries form the pillar of Xiamen’s economy.

Mr. Hall added that the opening of the Xiamen office is also an indicator of Savills’ growth and continued expansion in Mainland China.

Although newly-established, Savills Xiamen has already built strong relations with well-known local developers, with several project appointments already confirmed. Xiamen C&D Co. Ltd. has appointed Savills to provide pre-completion technical consultancy services and property management consultancy services for Xiamen C&D International Building, while Hengxing Group Co. Ltd. has appointed Savills to provide pre-completion technical consultancy services for Hengxing Fortune Center.

Said Mr. Woody Lam, Managing Director of Savills Southern China: “The opening of the Xiamen office is an important element in Savills’ overall development strategy in Southern China. To date, we have offices in South China, Southeast China and Southwest China. We are also honoured to be able to work with reputable developers upon our entry into Xiamen, and I am confident that we will do well in this market.”

Mr. Paul Cheung, Deputy Managing Director of Savills Southern China, is responsible for the overall operations of the Xiamen office. According to Mr. Cheung, Xiamen is one of the most competitive cities in China, with a pleasant living environment and stable growth in the real estate market. “We believe that Savills will be able to generate a significant amount of business opportunities here, and will also be expanding the business to surrounding cities such as Quanzhou and Fuzhou, with Xiamen as our base“, said Mr. Cheung, adding that in less than one month after opening its doors, the Savills Xiamen office already has more than 10 projects on hand, including Grade A office buildings, high-end residences and retail malls.