Real estate firm puts $3m deal to pitch

SHENZHEN: Vanke, China's biggest-listed property developer, has put to pitch a US$3 million account to promote a new residential complex in Guangdong province, just north of the Hong Kong border. FCB, J. Walter Thompson and local Guangdong shop Blue Flame are among agencies pitching for the account. At mid-year, Vanke appointed Grey China, its first multinational agency, to handle its corporate account. The complex, which will have 1,000 flats when it is completed, has a brief to promote the development as having spacious and stylish homes with modern amenities and set a short distance from a nature reserve. Vanke also wants to emphasise the complex's proximity to Hong Kong as it is looking to sell 60 per cent of the apartments to the city's investors, and the remainder to mainland buyers, sources close to the pitch said. According to the sources, Vanke is looking to launch a major television and print campaign early next year, targeting affluent people living in 16 major cities in Guangdong, as well as Hong Kong. Prior to appointing Grey, Vanke's marketing communications activities were handled in-house or through mainland agencies. It is understood that the threat of increased competition from China's entry into the WTO, sparked the policy change.

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