Arthur J. Mirante, chief executive officer of Cushman & Wakefield (C&W), was impressed by the Pudong skyline on his first trip to Shanghai.

"When I see the cement and cranes, I see a growing business and a rewarding decision," he said.

C&W, which is based in the United States, is a commercial real estate company founded about 80 years ago. In 2000 it realized 8,845 assignments valued at US$31.8 billion and totalling more than 258.5 million square feet.

With the boom of national morale and steady GDP growth, Mirante thinks it is the right time to develop the firm's China business. He called on the global board to hold a meeting in Shanghai to sketch out the firm's Asia strategy.

"China is the largest economy in Asia and it will serve as the highlight of our business growth in this area," he said.

Mirante said the firm's most important principle was to gather a rich and competent bank of human resources. "Find the right person and give him the right position," he said. "Then the boss will not be exhausted but will be able to reap rich rewards."

Dyfed Evans and James Hawkey, respective heads of the firm's Shanghai and Beijing offices, are the vanguards.

Mirante is satisfied with the performance of the Shanghai office that opened early last year. The to-be-completed 38-floor United Plaza near Shanghai Centre in the central business district is an eye-catching achievement of this new office, set up several years later than the Beijing one.

Evans, with a crew of 15, has gained the assignment of property management and leasing the building.

Although the business takes up a small percentage of the firm's global operations, Mirante attaches great importance to it as it is a sign of the firm's business growth in the city and in China.

"I see a big cake. The more capable will take a bigger bite," Mirante said of the arrival in the market of Coldwell Banker and Century 21. The most important thing is that they target clients on different levels and adopt different business modes.

"Franchising will improve the credibility of local business with international brands and obtain mutual benefits," he said. "We focus, at least for the moment, on top-end multi-national clients."

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