March 11, 2014, Beijing – CBRE is pleased to announce the appointment of Dominic Chung and Johnny Shao as Executive Directors and Co-Heads of China Investment Properties (China IP), effective February 1 and March 1, respectively.
Mr Chung rejoined CBRE from Jones Lang LaSalle in January 2010 as Senior Director, Investment Properties (HKIP), and was promoted to Executive Director and Head of HKIP in mid-2010. Prior to rejoining CBRE, Mr Chung had held various senior executive positions at Jones Lang LaSalle, including Managing Director of Shenzhen, China, and National Director of Investment in Hong Kong. He has an excellent track record of closing major IP transactions, as well as servicing institutional investors, developers, and both foreign and domestic clients across the Greater China region. Mr Chung holds a Bachelor’s Degree with Honors in Social Sciences from the Chinese University of Hong Kong and an MBA degree from the University of Toronto.
Mr Shao joins us from Forterra, having served as their Head of M&A and responsible for acquisition/disposal of major projects across China for three years. Before that, Mr Shao was Senior Broker of Investment Sales for DTZ where he led a wide variety of projects and transactions in major Chinese markets such as Shanghai and Beijing, involving office towers, luxury apartment buildings and mixed-use properties. He has rich experience with developers, asset managers/operators, institutional investors, foreign private equity as well as state-owned enterprises. Mr Shao holds a Bachelor’s Degree in Science (Honours) in financial economics from the University of Essex and a Master’s Degree in real estate finance from the University of Cambridge. Mr Shao is a member of the Royal Institution of Chartered Surveyors (RICS).
In their capacity as co-heads, Mr Chung and Mr Shao will collaborate with other business line and geographic leaders from within and outside of China to strengthen CBRE’s market presence and track record. They will also be jointly responsible for identifying, recruiting, coaching and retaining a team of highly competent IP professionals to help CBRE achieve a market-leading position in the near future.
Mr Shao is based in Shanghai and primarily focusing on the North and East regions of China, while Mr Chung is based in Hong Kong, primarily focusing on the rest of China. Both will jointly work on major listings in gateway cities and take care of major accounts on a national level. They will report functionally to Greg Penn, Managing Director of Capital Markets, CBRE Asia, and operationally to Ivan Poon, the President of CBRE China.
“With the China investment market set to remain active in 2014, we expect considerable demand for investment property-related professional services,” Ivan Poon commented. “With their abundant experience and market knowledge, the appointment of Mr Chung and Mr Shao will develop our Investment Properties capabilities in China, helping to differentiate CBRE from its competitors and boost us into a market-leading position.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
