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People's Daily Online>>China Business

Savills set for 50% of revenue from Asia

(Shanghai Daily)

14:51, December 06, 2011

SAVILLS Plc expects close to 50 percent of its revenue this year to come from Asia, up from 40 percent last year, and the rise will be mainly led by growth in China.

"For the first time, Asia will top all other regions in our global business and the trend will absolutely continue for the coming five years," said Jeremy Helsby, group chief executive of Savills, yesterday. "This is not because Europe is getting smaller but because our business in Asia is getting bigger."

In China the firm, a leading global real estate services provider, expects its business to grow by about 20 percent this year by revenue and profit.

"Of all our countries in Asia, the biggest growth in Asia over the next five years will come from China," Helsby added. "This is due to a combination of factors. We're growing our business and our business lines are diverse."

Helsby is not worried by the impact of China's austerity measures to curb housing speculation, including higher downpayment and mortgage rate as well as restrictions on home purchases, on Savills' China business.

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