WPP signs landmark lease for Shanghai Campus26 companies, 3,000 people to be co-located
One of the largest office deals in Shanghai central business districts
SHANGHAI — WPP, the world’s largest communications services group, has signed a landmark agreement with Nan Fung Group and B.M. Group to lease 20 floors and 41,000 sqm at 399 Heng Feng Road, Shanghai, representing one of the largest office leasing deals ever signed within the city’s central business district areas.
The new building will house the WPP Shanghai Campus, one of the most ambitious co-location efforts ever undertaken by WPP. The WPP Shanghai Campus will bring together 26 WPP companies and more than 3,000 people, currently spread across 10 locations.
WPP companies to be relocated include Blue Hive, GroupM, Hill+Knowllton Strategies, Millward Brown, J. Walter Thompson, Ogilvy & Mather, Sudler & Hennessey, and TNS. Move-in is expected to commence at the end of 2015. The office space housing the WPP Shanghai Campus is expected to gain LEED Gold certification.
“China is now WPP’s third largest market, and our commitment to China is deeper than ever. We are proud to support the development of the city of Shanghai and provide our people with the best facilities,” said Sir Martin Sorrell, WPP CEO. In Greater China, WPP companies (including associates) have revenue of US$1.5 billion and employ 15,000 people. “One of WPP’s key objectives is horizontality – promoting cooperation across our group companies to improve outcomes for our clients -- and bringing our people in Shanghai into this location is an important step towards this goal,” he added.
399 Heng Feng Road is part of a massive 3-stage redevelopment project in the Zhabei District, slated to include a 110,000 sqm shopping mall, 6 office towers, two luxury boutique hotels, and luxury residential sections and estimated for completion in 2017.
“The Nan Fung Group is delighted that WPP has chosen our project as their campus in East China. Their decision illustrates the increasing attractiveness of the Zhabei District to the international business sector," said Antony Leung, Group CEO of Nan Fung. "We regard WPP as a long term partner and we look forward to further working with them throughout the region. We will strive to provide to WPP, as well as other tenants excellent service. Taking this opportunity, on behalf of Nan Fung Group and B.M. Group, our joint venture partner, I would like to thank the officials in the Zhabei District for their strong support in making this project a success."
For more information, please contact:
Belinda Rabano, WPP Corporate Communications, Asia Pacific
+86 1360 107 8488
Raymond Fung, Nan Fung Group
+86 159 0198 8720
Helen Sun, B.M. Group
+86 138 1736 9876
WPP is the world’s largest communications services group with billings of US$76 billion and revenues of US$19 billion. Through its operating companies, the Group provides a comprehensive range of advertising and marketing services including advertising & media investment management; data investment management; public relations & public affairs; branding & identity; healthcare communications; direct, digital, promotion & relationship marketing and specialist communications. The company employs over 188,000 people (including associates and investments) in over 3,000 offices across 112 countries. For more information, visit www.wpp.com. WPP was named Holding Company of the Year at the 2015 Cannes Lions International Festival of Creativity for the fifth year running. WPP was also named, for the fourth consecutive year, the World's Most Effective Holding Company in the 2015 Effie Effectiveness Index, which recognizes the effectiveness of marketing communications.
About Nan Fung Group
Nan Fung Group, founded in 1954, is a conglomerate from Hong Kong with major business in the real estate, financial investment and shipping industries. Except for the commercial complexes and luxury villas in hometown, we do have global presences in other major cities over the world. For more information, please visit our official website www.nanfung.com.
About B.M. Group
B.M. Holding (Group) Co., Ltd. was founded in 1997 with real estate development, hospitality and raw material trade of iron & steel as main business. With a diversified business streams for the Group, it aims to develop landmark projects to enlighten the core value and economy of the area. For more information, please visit our official website www.bmholding.com.cn.