BOMA China to roll out building classification guide

BOMA China, an organization aimed at allocating and optimizing assets in the commercial real estate industry, has joined hands with five enterprises to introduce the Chinese version of International Office Building Classification Guide.

The guide, which includes an objective and internationally recognized office building classification system, will become a landmark for Chinese commercial property industry to become more standardized and professional, said Dominic Lau, executive director of BOMA China.

"The purpose of introducing this standard is to maintain and improve the value of assets in the commercial real estate industry, making the environment more healthy and transparent," Lau said. "It will help build Chinese brands and promote sustainable development in the industry."

"China, especially center areas in the first-tier cities, has now slowed down its development and construction in the real estate industry," said Gu Jianping, chairman and managing director of Shanghai Tower Construction and Development Co Ltd, "a more serious consideration is how to effectively manage the current assets in this field."

"The industry needs a quantified benchmark to guide its development and the standard introduced by BOMA will remove obstacles for the new enterprises in the field," added Wang Wuren, deputy chairman and managing director of CITIC HEYE Investment Co Ltd.

Fan Hang contributed to this story