DTZ has become the largest international property adviser in China, with the opening of two more offices on the mainland.
The offices in Wuhan and Xian mean the company has a presence in 11 Chinese cities. CY Leung, chairman of DTZ (North Asia), said the expansion was intended to tap into opportunities created by the increasing number of clients and projects in the country and the government’s efforts to stimulate economic development.
DTZ opened its first Chinese office in Shanghai in 1993 and now employs 3,800 staff.
Most of DTZ’s growth in the country came through its agreement in 1999 to buy a 20% stake in CY Leung & Co, which had offices in seven Chinese cities.
DTZ has been aggressively expanding its global business over the past 12 months. In August it bought Sydney agency Grosvenor Hickey Tindale for £4.6m, and it has also opened offices in India, Bahrain, Switzerland and Denmark this year. Earlier this month DTZ teamed up with Tullett Prebon to advise on the property derivatives market in Europe.
