On December 12, Dade & Walkway (NYSE stock code: CWK) and Vanke Property established a new strategic cooperation in the field of asset services, and jointly established a new company - WanwuDade & Walkway Asset Service Co., Ltd., to integrate commercial property and facility management services in Greater China. It is reported that the new company only integrates and improves the property management and asset service business in Greater China, and all business operations of Der Asphalt Bank have not changed.
Daide Asphalt Global Executive Chairman and CEO BRETT WHITE believes that the strategic cooperation between DADE Asphalt and Vanke Property will provide valuable business opportunities for both parties to add value in business in Greater China. Derby Asset Bank has a strong market influence. Through strategic cooperation with Vanke Property, Derby Asset Bank will create more value and excellent services for customers; through innovation and continuous optimization of business operation models, it will lead the development of the industry.
Vanke Group partner and CEO of Property Group Zhu Baoquan said that Vanke Property has opened up an international path through business integration. He believes that the strategic cooperation between the two parties is a heavyweight and milestone integration in the field of commercial property asset services in Greater China. The cooperation between the two parties is not only a business integration, but also an alliance of advantageous resources. The new company concentrates the respective advantages of shareholders and will continue to enhance its leading position in Greater China.
It is understood that the joint venture jointly established by Derby & Bank and Vanke Property focuses on the fields of commercial property and facility management services. The commercial property management and facility management projects in Greater China cover more than 80 cities and manage more than 1,000 property projects. In the future, the joint venture is committed to becoming the leading commercial property and facility management service provider in Greater China. The management of the new company comes from both teams. The CEO will be Johnson Yip, former director of the Greater China Asset Services Department of Ded & Betel Bank, and the Chief Financial Officer will be Mo Fan, former managing partner of Vanke Property Government Enterprise Commercial Services Department.
All Things Dede Asset Service Co., Ltd., CEO of Ye Shiyuan, said: "I am very honored to be the CEO of the newly established Asset Service Company. The new company will fully integrate the talents and management teams of both parties, give full play to the advantages of combining Chinese and Western China, and lead the professional service standards and innovative value-added capabilities of Greater China. I am very happy to lead the professional team with advanced scale and capabilities in the market to provide more customers with comprehensive, efficient and customized solutions."
In fact, as early as last year, the two parties had already cooperated, and Vanke Property became the fourth strategic shareholder of Dede Asset Store. In July 2018, Vanke Property bought 4.9% of Cushman Wakefield's equity for an initial public offering (IPO) pricing of US$166.7 million. In recent years, Vanke Group has made large-scale diversified business expansion in commercial projects and logistics sectors, acquiring 96.55% of Inli Group's equity for 12.87 billion yuan, spending 3.4 billion Singapore dollars (about 16.8 billion yuan), and becoming the largest shareholder of logistics giant Prolos with an investment ratio of 21.4%.
As Vanke Property, a core subsidiary of Vanke Group, as of the end of 2018, the company signed more than 2,209 residential projects and more than 635 commercial office projects. Dard Asphalt is a world-renowned real estate service and consulting consulting company, covering more than 70 countries around the world, with more than 400 offices, 51,000 professional employees, and 22 branches in Greater China.
[Written by] Qiu Yongkuan Li Ronghua
[Author]
[Source] Southern Media Group Southern + Client
