Cushman & Wakefield, Lotte Property & Development Expand Landmark Asset Services Partnership

[Financial News] Cushman & Wakefield Korea announced on the 23rd that it had signed a strategic memorandum of understanding with Lotte Property & Development to strengthen cooperation in property management and real estate advisory services for major domestic landmark assets and large mixed-use facilities.
Under the agreement, the two companies will establish a close cooperation system in various areas, including property management (PM), leasing advisory, real estate consulting, and acquisition and disposition advisory, with a focus on large office and commercial mixed-use facilities. By combining their professional capabilities and global networks, they plan to jointly identify new business opportunities and provide asset owners and investors with more differentiated, integrated real estate solutions.
Lotte Property & Development has expanded its operations into property management for major prime office assets, including Pangyo H Square and ARC PLACE, drawing on the expertise it accumulated through the direct development and operation of Lotte World Tower and Lotte World Mall. Cushman & Wakefield, a global commercial real estate services firm, has also earned strong market trust through its network spanning 60 countries and its expertise in property management and investment advisory.
Richard Hwang, CEO of Cushman & Wakefield Korea, said, "Combining the expertise and market experience of both companies marks a meaningful starting point for delivering greater value to our clients. We will introduce differentiated real estate solutions based on our global network and property management capabilities."
Jang Jae-hoon, CEO of Lotte Property & Development, stated, "Building on our experience operating major assets, including Lotte World Tower, we will work with Cushman & Wakefield Korea to expand new business opportunities. We will provide competitive services to our clients and contribute to the development of Korea's property management market."
[email protected] Jeon Min-kyung Reporter