Global real estate services firm Cushman & Wakefield Korea is expanding its collaboration with Lotte Engineering & Construction to provide real estate services for major landmark assets and large mixed-use facilities in South Korea.
Cushman & Wakefield Korea announced that it has signed a strategic memorandum of understanding (MOU) with Lotte Engineering & Construction to collaborate in areas such as property management (PM), leasing advisory, real estate consulting, and acquisition and sales advisory.
Through this agreement, the two companies will establish a cooperative framework focused on large office and commercial mixed-use facilities. They plan to jointly identify new business opportunities and offer comprehensive real estate services to clients based on their respective expertise and networks.
Lotte Engineering & Construction is expanding its business into the external real estate asset management market, leveraging its asset management capabilities developed through the direct development and operation of Lotte World Tower and Lotte World Mall. The company is currently managing key prime office assets such as Pangyo H Square and Arc Place.
Cushman & Wakefield provides integrated real estate services based on its global network and expertise in asset management, leasing advisory, and investment advisory.
The two firms will collaborate to enhance the operational competitiveness of large mixed-use assets and increase asset value. They also plan to offer integrated real estate solutions, including leasing advisory, investment advisory, and consulting, to asset owners and investors.
As the importance of operational efficiency and leasing competitiveness for large mixed-use assets grows in the commercial real estate market, collaboration between specialized PM firms and global advisory companies is also on the rise.
Hwang Jeom-sang, CEO of Cushman & Wakefield Korea, stated, “This agreement marks a significant starting point for combining our expertise and market experience to provide greater value to our clients. We will offer differentiated real estate solutions based on our global network and capabilities in asset management, leasing advisory, and investment advisory.”
Jang Jae-hoon, CEO of Lotte Engineering & Construction, remarked, “Based on our development and operational experience and know-how with major assets like Lotte World Tower, we will expand new business opportunities through our collaboration with Cushman & Wakefield Korea.”
* This article has been translated by AI.
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