Despite the global financial crisis, property market trends in Guangzhou and Shenzhen suggest an upturn in April and May. Favorview Palace recorded Rmb $1.8 billion (US$263 million) in turnover during in the first half of 2009.
Anthony Yeung, MD of McCann Erickson Guangzhou, said: “The client is doing well in term of sales, thanks to the property speculation craze which returned in Q1 this year. This is a welcome surprise considering the recession".
Yeung noted the client wants to move away from traditional “flamboyant” and “hedonistic” property ads in Guangzhou and work with a 4As agency to build a longer-term brand status. The brand’s positioning will focus on cultural heritage and illustrate the apartments as “inheritable mansions in a close-knit community.”
McCann will work on strategy, brand-building and creative. Favorview conducts its media planning and buying in-house.
This is the second property client that McCann-Erickson Guangzhou has worked on after scooping Star River Property’s account in early 2008.