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In 2001, Shanghai Bell and Samsung Electronics formed Bell Samsung – a joint venture company that develops and produces CDMA mobile telecommunications system and related products. Over the years, the business grew substantially and eventually required 11,000 sqm of space to accommodate its growing number of employees in Shanghai. The company’s biggest concern was to find a low cost and effective location that’s still within the Pudong area in order to retain its key staff.
Recognising Jones Lang LaSalle’s clear understanding of the local market, Bell Samsung turned to us to help identify the best location that matches its requirements. After scouring the entire Pudong market to cover all potential options, we were able to identify a property that’s suitable for Bell Samsung. And because of our close relationship with the landlord, our tenant representation team was able to efficiently negotiate a fair price without exhausting too much time.
Among the benefits our firm achieved for the client include a three-year lease with a three-month rent-free holiday for fit out, ten free car parks for the first six months and incentives totalling RMB 300,000. In addition, with the rental rate 50% cheaper than its former premises, Bell Samsung will be able to continue to expand its operations and still maintain a low overhead.