Deloitte Adds Real Estate Advisory With Acquisition
In a bid to provide a one-stop shop for real estate and infrastructure, Deloitte has acquired a Hong Kong architecture firm to boost its advisory capabilities.
Deloitte China has acquired WCWP for an undisclosed amount which is expected to enhance its advisory capabilities across real estate, infrastructure and reorganization.
WCWP has been involved in various landmark projects in Hong Kong and mainland China including residential property Conway Mansion and DBS' headquarters in Hong Kong and commercial complex Century Link in Shanghai.
Financial Advisory + Architecture
Whilst Deloitte and WCWP have collaborated before, the acquisition marks a cornerstone for financial advisory services and architecture to what WCWP executive director Barry Will calls «an innovative new direction to create a totally new field,» in an «SCMP» report.
In addition to creating a new field, WCWP’s China capabilities are also believed to be a driver for the acquisition, especially when considering the so-called numerous «ghost cities» and the potential opportunities from otherwise wasted space.
«More than ever, our clients are looking for a one-stop shop experience, especially when it comes to mergers and acquisitions, infrastructure investment and real-estate projects,» added Edmund Yeung, financial advisory managing partner at Deloitte China.
