Hungarian property developer-investor Trigranit has teamed up with a Beijing-based property management company to lease and manage shopping centres in China.
Hungarian property developer-investor Trigranit has teamed up with a Beijing-based property management company to lease and manage shopping centres in China.
Trigranit and RTM Outlets Management have signed a letter of intent to establish a joint venture which will offer leasing, marketing and property management services to China’s rapidly growing retail sector.
Trigranit will also focus on leasing and property management consultancy for pipeline projects.
Michael Song, CEO of RTM Management, said: ‘We faced an intensive retail expansion in the
last few years in China, while the property management know-how has not evolved as quickly, resulting in lots of non-profitable shopping malls.
‘Working together with Trigranit, with their 20 years of expertise in the fields of property management, consultancy and marketing services, is definitely not only an added value, but a guarantee for us as well.’
Philip Evans, CEO of Trigranit Management Corporation, said: ‘In the Chinese market it is essential to have a reliable local partner in order to be successful. In the framework of the cooperation we will not only focus on business, but will be sharing our know-how with our colleagues in the joint venture as well.’
