Vanke Property And Cushman&Wakefield Signed a Joint Venture To Further Strengthen Their Strategic Cooperation
On December 12, Vanke Property and Cushman&Wakefield signed a joint venture to further strengthen the strategic cooperation between the two sides, focusing on the strong combination of commercial property and facilities management and other services, so as to adapt to major changes in China's commercial property and asset management and better grasp the development opportunities in China's urbanization process.
Vanke Property and Cushman&Wakefield signed a joint venture to further strengthen their strategic cooperation
Starting from traditional residential property services, Vanke Property has extended its business model to the commercial property field, and has entered the streets and even managed the city in space, becoming a USIS urban space integration service provider. The establishment of the new company is more like a confirmation of Vanke Property's spatial development strategy. This means that the "Residential Commercial Enterprise, Flying Together with Two Wings" strategy, which was officially launched in October 2018, has achieved milestone results since 2015.
It is understood that the new company will focus on the field of commercial property and facility management, with main businesses including Property and Asset Management and Integrated Facility Management.
Vanke Property is a leading property service company in China, ranking first in China's top 100 property industry for ten consecutive years. Cushman&Wakefield is a world-renowned real estate service and consulting company in more than 70 countries.
The new company is composed of asset packages injected by both shareholders, and will form a strong market influence in the commercial property and facility management field in Greater China. Its business scale, innovation ability, and service team will make it a leading commercial property and facility management service provider in Greater China.
"Vanke Property has opened up an internationalization path through business integration," said Zhu Baoquan, partner and CEO of Vanke Group. "This strategic cooperation between the two sides is a heavyweight and milestone integration in the field of commercial property asset services in Greater China. The cooperation between the two sides is not only business integration, but also an alliance of advantageous resources. The new company has concentrated the respective advantages of shareholders and will continue to enhance its leading position in the Greater China region."
Brett White, the global executive chairman and CEO of Cushman&Wakefield, said: "Our strategic cooperation with Vanke Properties will provide valuable business opportunities for both parties to add value to their business in Greater China. I am extremely excited about the unlimited development opportunities in the future. Cushman&Wakefield has strong market influence. Through our strategic cooperation with Vanke Properties, we will create more value and excellent services for customers, and lead the industry through innovation and continuous optimization of business operation mode."
The management of the new company is from the teams of both sides, and Johnson Yip, head of Cushman&Wakefield's Greater China Asset Services Department
"I am very willing to join a new company and have high expectations for the future. The newly established asset service joint venture will fully integrate talents and management teams from both sides, leverage the advantages of combining Chinese and Western, and lead the professional service standards and innovative value-added capabilities of the Greater China region. We will provide comprehensive, efficient, and customized solutions for more customers."
Earlier in July 2018, Vanke Property announced that it would purchase 4.9% of Cushman&Wakefield's shares in the way of IPO pricing, becoming its fourth largest strategic shareholder. The establishment of an asset service company is a further deepening of the strategic cooperation between the two sides.
Through this integration, the new company can not only lead in the field of commercial property and facility management in China, but also enter the first camp in the field of asset services. For customers, after regional and industrial segmentation, combined with the excellent practices of international quality control system and domestic customer service, the new company will be able to create tailored solutions for customers and provide higher quality property and asset management services. With the support of the existing business network of both shareholders, the new company can mobilize broader service resources, better meet the needs of customers, support the growth needs of institutions in China, and expand the international layout of domestic enterprises.
Vanke Property's brand value reaches 13.025 billion yuan
Previously, the 2019 China Real Estate Brand Value Research Results Conference and the 16th China Real Estate Brand Development Summit Forum, hosted by the Top 10 Research Group of China's Real Estate, was grandly held in Beijing. With strong comprehensive strength and good reputation, Vanke Property ranks first on the "2019 Property Service Brand Value Research Results List" of the China Index Institute with a brand value of 13.025 billion yuan. It has also won multiple awards such as "2019 China Property Service Professional Operation Leading Brand Enterprise", "2019 China Property Service Quality Leading Brand Enterprise", and "2019 China Property Service Platform Leading Brand", as well as the "2019 Most Influential Property Brand for Developers".
Innovation breakthrough, industry-leading
Vanke Property was established in 1990. After nearly 30 years of development, Vanke Property has grown from a subsidiary service department of real estate to a comprehensive property company covering six major business sectors: residential property services, commercial and enterprise property services, developer referral services, community asset services, intelligent technology services, and community life services. As a leader in China's property management industry, Vanke Property has always adhered to the core values of "peace of mind, participation, trust, and symbiosis", committed to allowing more users to experience the beauty of property services, and providing full lifecycle services around the preservation and appreciation of real estate for property owners.
As of the end of December 2018, Vanke Property has laid out 83 of China's most promising large and medium-sized cities, with a total of 2844 contract projects, including 2209 residential projects and 635 commercial and enterprise projects. The contract area has exceeded 530 million square meters, serving over 4.8 million households. In 2018, Vanke Property became the first company in the industry to achieve an annual revenue of over 10 billion yuan.
Residential commercial enterprises, flying together on both wings
Faced with the increasingly segmented, diversified, and personalized service needs of the market, Vanke Property has proposed a strategic direction of "relying on residential property and commercial property, and jointly developing the two wings", integrating the management resources and professional capabilities of commercial property, and launching a sub brand "Vanke Property | Commercial Enterprise". In 2018, Vanke Property | Commercial Enterprise successively reached cooperation with three major commercial real estate professional organizations: the International Association of Building Owners and Managers (BOMA), the International Facilities Management Association (IFMA), and the Royal Institute of Chartered Surveyors (RICS) to learn and exchange ideas with the most advanced international commercial real estate management enterprises and associations.
As a crucial part of Vanke Property's overall business map, "Vanke Property | Commercial Enterprise" inherits Vanke Property's concept of "preserving and increasing the value of owner assets", integrates resources for property management throughout the entire life cycle of real estate, and focuses on two main businesses: commercial enterprise property management and government enterprise facility management. The service content includes pre consultant, operation period property management, comprehensive facility management, and asset operation management; Provide public property management (PM) services for operational properties to enhance the asset value of customers throughout their entire real estate lifecycle; Provide comprehensive facility management (FM) services for self use properties, helping enterprises focus on the development of their core businesses.
In recent years, "Vanke Property | Commercial Enterprise" has not only obtained in-depth cooperation with leading brands in the Internet industry such as Alibaba, Huawei, Tencent, China Mobile, China Unicom, and well-known enterprises such as Hikvision, BGI Gene, Kingdee, etc., but also recently has successively undertaken property and comprehensive facilities management services for projects such as Shenzhen Houhai Ali Center, Guangzhou Kaidal Hub International Plaza, Beijing Xiaomi Mobile Internet Industrial Park, Shanghai UnionPay Business Headquarters, Beijing Kwai Headquarters, Suzhou Tongcheng Building, etc.
Quality service and humanistic care
Vanke Property always adheres to the core values of "peace of mind, participation, trust, and symbiosis", and continuously innovates and diversifies its development, never forgetting its original intention, and continuously provides professional and high-quality property services to customers.
On October 10, 2018, Vanke Property officially launched the HSQ High end Property Management Certification System (hereinafter referred to as the "HSQ Certification System"). Starting from the user experience, with the service proposition of "moving as needed, it should be", Vanke Property provides targeted service products in the three major fields of health, safety, and high-quality services to meet the core demands of customers who are increasingly refined, detailed, and customized. This release marks a new stage of productization and implementation for Vanke Property's high-end property management.
Vanke Property always maintains a distinctive humanistic sentiment and organizes multiple humanistic care activities. "Park Li Festival" is a representative large-scale community event of Vanke Property. In 2018, the 16th "Park Li Festival" was themed "Neighbors Let's Run Healthy Together", inheriting the simple, neighborly, and friendly Park Li spirit, creating simple and friendly neighborhood relationships, and advocating civilized and courteous community life; At the same time, in conjunction with the Vanke Community Happy Run, we aim to promote harmony between the community and family by running healthily and happily, uniting neighborhood relationships. In 2018, 46877 runners from 1407 communities in 34 cities across the country participated in offline community running events, donating a total of 1.36937 million yuan in donations. We have set up 1702 online running groups, attracting nearly 70000 people to join and running a total distance of 4.31 million kilometers. In addition, during the 2018 Park Li Festival, neighbors from 30 cities participated in the "Run to Light Up Cities" event and donated over 1.5 million kilometers of running distance.
The "Friendly Neighbor Program" is a "Consumer Support Community Renewal Program" initiated here. Users consume at the "Friendly Neighbor Market", where merchants raise a specific proportion of funds for their community, support hardware innovation and cultural construction. The "Friendly Neighbor Market" promises to have zero overall profit for itself. It is not a fund of some kind, but an action that gathers the power of friends and neighbors, aiming to promote the preservation and appreciation of users' housing assets and the sustainable development of the community. Since its launch, the Friendly Neighbor Program has been recognized and highly praised by users who live here. As of 2018, the Friendly Neighbor Market has raised over 10 million yuan in Friendly Neighbor Program funds for communities that have been launched nationwide to support future community updates. During the "Park Li Festival" in 2018, the "Friendly Neighbor Plan" spent a total of 936000 yuan to assist in the hardware renovation of 65 communities nationwide.
Intelligent services allow more users to experience the beauty of property services
Rui Service is a complete set of solutions launched by Vanke Property with the help of mobile Internet for the industry's pain points. It consists of Rui platform, service center and management center. Rui Platform is the core of Rui Service, which consists of a whole set of Internet application systems, including FM system, battle map system, tent system, "Live Here" APP, "Zuoyingtai" APP, etc. The service center is the "product" of Rui Service. With the help of Rui platform, Vanke Property and its partner employees directly contact customers, generate work orders, and provide services, which is simple and easy to operate. The management center utilizes the Rui platform and backend operations to systematically manage employees, equipment, housing, and finance, achieving intelligent control.
Rui Service has gone through three product iterations so far. Rui Service 1.0 has launched the basic data of people and things, Rui Service 2.0 has connected people and things, and Rui Service 3.0 has connected people, finance, and things.
The biggest highlight of Rui Service 3.0 is the disclosure of "public advertising revenue, venue rental revenue" and other expenses beyond property service fees to property owners. Vanke Property promotes sufficient information symmetry between the property and users through the Rui Service Platform, creating a Sunshine Property that allows users to participate in community management and enhances customer satisfaction and living happiness.
Value preservation and appreciation, creating full lifecycle management of real estate
On May 28, 2018, the original Vanke Rental and Sales Center was officially renamed as the Park Lin Vanke Property Second hand Housing Exclusive Store, with 355 stores located in 46 cities across the country simultaneously unveiled. The birth of the "Park Neighbor" brand marks the growth of real estate transaction business from Vanke Property's supplementary business to a property sub brand, forming an important part of the entire life cycle chain of housing assets and enriching the definition and connotation of property services.
Unlike general property companies that require property services mainly based on property maintenance, use, upkeep, and security, Vanke Property's basic definition of property services is to provide full lifecycle services around the preservation and appreciation of the owner's real estate. Improving the value-added ability of assets has become an important goal in the design of Vanke's property service system, which includes four main modules: property services, housing asset services, intelligent communities, and life services. Park Neighbor is the leading business in housing asset services.
epilogue
Against the backdrop of China's residential real estate market gradually entering the stock market, the property service market is facing a trillion dollar blue ocean. Nowadays, Vanke Property is no longer limited to residential property services, but a comprehensive property management platform that provides full lifecycle management of real estate around the needs of homeowners for property preservation, appreciation, and a better life. In 2018, Vanke Property achieved rapid growth and comprehensive development of diversified businesses. In the future, Vanke Property will continue to adhere to the core values of "peace of mind, participation, trust, and symbiosis", constantly breaking through in diversified development and quality management, not forgetting humanistic care, and allowing more users to experience the beauty of property services.
