Project References : Commercial Case studies
K. Wah Center
K. Wah Centre is strategically located on Huaihai Middle Road, one of the prime business districts of the city. The development comprises a 45-storey office building and two ancillary commercial buildings. The 163-metre tall main building comprises 63,000 sq.m. of office space and is widely recognized as one of the premiere office developments in Shanghai. The commercial buildings comprise over 7,700 sq.m. of retail and clubhouse space with full facilities.
The Challenge
From the outset, K. Wah Centre entered a competitive market environment with several other major Grade A developments being completed at a similar time.
Our Strategy
Savills' detailed project knowledge and carefully planned market positioning contributed greatly to the success of the building. Taking advantage of market conditions, Savills implemented an aggressive and innovative marketing campaign targeting major multinational corporations as prospective tenants for the project.
The Outcome
K.Wah Centre achieved a 70 per cent pre - completion commitment rate, the highest achieved in the Shanghai Market. A year after the project launch, and within 6 months of completion, the occupancy rate reached 95 per cent. Savills concluded transactions for major tenants including AMC (8,500 sq.m.), Budweiser (4,000 sq.m.), K-Line (2,000 sq.m.), Avon (3,500 sq.m.) and numerous other renowned international companies. The high profile tenant base and achieved average rentals are testimony to the outstanding success of the campaign.
CONTACT
Craig Carr - Senior Director (Shanghai)
CCarr@Savills-SH.com
+8621 6391 6702