nternational real estate advisor Savills has announced a joint venture with Tianjin TEDA Development Company Limited to form Tianjin TEDA Savills Property Services Company Limited.

A signing ceremony was held in Tianjin, attended by Mr. Randall Hall, CEO of Savills China, Mr. Billy Chau, managing director of Savills Northern China and Mr. Zhang Bingjun, managing director of Tianjin TEDA Development Company Limited.

Under the terms of the agreement, the joint venture will be jointly managed by representatives from both parties and will provide premium property services TEDA MSD• Block C, and to TEDA.

“We see the partnership as an important milestone in relation to our business strategy in Tianjin, which is one of the fastest economic growth areas of China. The joint venture will leverage on the capabilities of both Savills and Tianjin TEDA, combining extensive market knowledge with international best practice, to provide “best in class” property services to TEDA. We look forward to a long term strategic partnership,” said Mr. Randall Hall.

Located at Tianjin Binhai New Area, TEDA MSD contains over 20 Grade A commercial towers, covering a total floor area of 1,340,000 square meters with 860,000 square meters of office accommodation and 150,000 square meters of retail space. TEDA MSD• Block C has total area of 160,000 square meters comprising of three office towers. They will be ready for occupation in August, 2010. MSD• Block C will provide world class office accommodation for modern service industries such as finance, logistics, and technological services.

“Our collaboration with Savills is in line with our business strategy. Savills is one of the most powerful international real estate service providers in China, through our partnership with Savills, we believe that the joint venture will be able to deliver an extraordinary level of service to our clients,” said Mr. Zhang

“We are excited to be able to cooperate with TEDA Development. Working with one of the top domestic organisations will allow us to build and strengthen our brand. With our strong experience and professional practices, we are confident that we will be able to provide the highest quality services to TEDA. We look forward to a successful collaboration with Tianjin TEDA,” said Mr. Billy Chau.

Editor’s Notes:

Savills

Savills is a leading global real estate service provider listed on the London Stock Exchange. The company, established in 1855, has a rich heritage with unrivalled growth. It is a company that leads rather than follows and now has over 200 offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East.

A unique combination of sector knowledge and entrepreneurial flair gives clients access to real estate expertise of the highest calibre.  We are regarded as an innovative thinking organisation backed up with excellent negotiating skills.  Savills chooses to focus on a defined set of clients, therefore offering a premium service to organisations and individuals with whom we share a common goal.  Savills is synonymous with a high quality service offering and a premium brand, takes a long term view to real estate and invests in strategic relationships.

Tianjin TEDA Development Co., Ltd.

Tianjin TEDA Company Limited is a China-based company engaged in domestic trading, property development, public facilities management, projects construction, as well as textile and apparel industry. The Company operates its businesses through regional development, environmental protection, landscape engineering, manufacture of high-tech clean materials, as well as petroleum storage and distribution.