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WPP to move into monster Shanghai premises

WPP ShanghaiWPP is to move 26 of its media and ad companies into an enormous new building in Shanghai.

The owner of Ogilvy & Mather, Mindshare and J. Walter Thompson struck a landmark deal with Nan Fung Group and B.M. Group to lease 20 floors and 41,000 square metres at 399 Heng Feng Road, Shanghai.

The deal is one of largest office leasings ever signed in the Chinese commercial capital’s CBD.

Sir Martin Sorrell, WPP’s CEO, said: “China is now WPP’s third largest market, and our commitment to China is deeper than ever. We are proud to support the development of the city of Shanghai and provide our people with the best facilities. One of WPP’s key objectives is horizontality – promoting cooperation across our group companies to improve outcomes for our clients – and bringing our people in Shanghai into this location is an important step towards this goal,” he said.

The building is part of a three-stage redevelopment project in the Zhabei District, slated to include a 110,000 square metre shopping mall, six office towers, two luxury boutique hotels and luxury residential sections.

It is scheduled to be completed by 2017.

WPP companies and its partners in China generate revenue of US$1.5 billion and employ 15,000 people.

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