Generation 5000 - Miele

Founding of subsidiary in China planned for 2008
The real estate market
is booming
Though Miele has been
an established brand
in Hong Kong for ten
years now, the Shanghai and
Beijing offices were first established
at the beginning of
2006. Unlike in Hong Kong,
Miele appliances cannot yet
be purchased in stores, since a
special license is required for
this. Once the license has
been granted, Miele China is
scheduled to start operations
in 2008. Up to now, Miele
has only been active in the
real estate market in China
which is governed by its own
laws.
Both foreign and domestic
fi nanciers invest in the Chinese
real estate market. According
to a study carried out
by CB Richard Ellis, an international
real estate consulting
firm, investment in housing
complexes with luxury fl ats is
particularly popular. Project
developers borrow money
from investors to finance a
property. Since completely
outfi tted kitchens and baths
are an integral part of highquality
living spaces in China,
a call for tender is part of the
planning process. Miele is involved
in this process or is
sometimes approached by
project developers ahead of
time. The chances of “winning
the bid” for very exclusive
properties are good, since only
two to three brands are in the
running when it comes to outfi
tting the kitchens of luxury
fl ats.
“A good year can pass between
initial contact and the
signing of the contract,” according
to Carsten Nittke,
general manager of Miele
Hong Kong. Large complexes
are often completed in a
number of construction phases,
during which the price per
square metre often goes up,
Nittke reports. Since negotiating
with project developers
requires a great deal of empathy
with and understanding of
Chinese mentality, these positions
at Miele are fi lled with
locals.
In less than two years,
Miele has already outfitted
over 2,700 fl ats on the Chinese
market (not including
Hong Kong and Macau) with
home appliances. In addition
to One Central in Macau,
Miele Hong Kong has also
been awarded the contract for
two more renowned projects
still in the construction phase:
Kowloon Station Package 6, a
tower with 830 planned residential
units, is part of a new
830 residential units
in the commercial
centre Kowloon
Station (front) will
be equipped with
Miele appliances.
Bel-Air No. 8 is the
new luxury residence
on the peak in Hong
Kong.
commercial centre in Hong
Kong. Bel-Air No. 8 is the new
luxury residence in Hong
Kong. Norman Foster, who
also designed London City
Hall and the new Reichstag in
Germany, is responsible for
the Bel-Air No. 8 project
scheduled for construction in
a prime location near the Peak.
Miele will deliver the built-in
appliances and washer-dryers
for the 709 units.
Miele The Magazine // 15
CHINA