Property service provider ups innovation to bolster high-quality development

Cushman & Wakefield Vanke Service, a property services provider in China, has taken itself to the forefront of the Chinese commercial property services sector by increasing revenue through its innovation pushes.

The company aims to innovate its business model by deepening its presence in five sectors: internet, biopharmaceuticals, high-end manufacturing, finance and multinational corporations. 

Covering over 2,800 projects in 100 cities on the Chinese mainland, the joint venture between Vanke Service and Cushman & Wakefield now serves about 70 internet technology and unicorn enterprises, it said.

"We have to face the current external uncertainties — the vacancy rate of office buildings in first-tier cities continues to rise while the demand to cut costs and raise efficiency is increasingly becoming prominent," said the company's Chairman and CEO Li Qingping.

"And we are thinking of steady innovations to find a better way out, as innovation is the only definite methodology for dealing with uncertainties."

"For example, we are the first property firm to establish an IFM (integrated facilities management) business unit, providing one-on-one services for major clients," he said, adding that the company has also established a product service center to offer service solutions based on customer needs, with more than 3,000 innovative proposals carried out last year.

"Currently, we prioritize high-quality service in the overall strategy, as our business philosophy is clear — having a clear understanding of future development and changes, and responding to the changes in customers' needs. As long as cities and buildings exist, opportunities for real estate services exist, and cost-effective products and good service will always find a market," Li said.

Li stressed that during the past three years of its development, his company has served more than 60 top technology internet companies, and among the top 10 Chinese internet companies, nine are its clients.

"Technological advancement is a trend that cannot be ignored," he said, noting that almost all industries are currently embracing the application of artificial intelligence.

What resilient enterprises must do is take proactive actions, innovate technologies, upgrade business models, and usher in a spiral of upward growth in one business cycle after another, thus steadily passing each cycle successfully, he said.

As far as he sees it, China has the world's largest consumer market, a mature global industrial and supply chain, as well as pioneering entrepreneurs.

"Therefore, we have full confidence in the prospects of China's economic development," Li said.

"As the real estate industry in China has gradually entered a mature stage, we also need to have a crisis awareness in our business operations at the same time," he added.

"We have a long-term mindset for our business expansions," he said, adding the company is not pursuing high gross profits, but aiming to become a high-valuation player.

"Thus, we pursue our high-quality growth at an appropriate gross profit margin acceptable to our stakeholders," he added.

"I hope our company can become a model for the transformation and upgrade of China's services sector with our clear mindset and philosophical thinking, and through our professional services aid the high-quality development of various industries," Li said.

lijiaying@chinadaily.com.cn