Grosvenor, the privately-owned international property group, announced today that Benjamin (‘Ben’) Cha has formally taken up the role of Chief Executive at Grosvenor Asia Pacific, the group’s Asia-based proprietary arm.
Ben joined Grosvenor Asia Pacific as Managing Director on 29 September 2014. As of today, 1 April 2015, he succeeds Nicholas Loup, who moves on from the company. Nick established the Asia business in Hong Kong in 1994; operations have since expanded to Tokyo and Shanghai.
Prior to joining Grosvenor, Ben was with UBS Global Asset Management as Managing Director, Head of Global Real Estate Greater China and co-CEO of UBS/Gemdale, a UBS joint venture real estate private equity platform in China. During his time with UBS Ben directed the completion of investment and return of capital in the UBS/Gemdale China Real Estate Fund I and supported development of a significant global separate account mandate from Greater China. Prior to this he was with HKR International, a Hong Kong based developer, for eleven years, latterly as Executive Director and Head of its Asia Pacific Business Unit. While with HKR Ben directed and was involved with principal investment and execution of development projects in China, Japan, Hong Kong and Southeast Asia, as well as the establishment of various joint ventures and a sovereign wealth fund platform. Earlier in his career Ben was in the Group Development function of the Mandarin Oriental Hotel Group.
During our time in the region, Grosvenor Asia Pacific has garnered a reputation for being a long-term investor and developer, growing a diversified portfolio of core investments and building an expanding programme of award-winning Grosvenor-branded luxury residential developments in Hong Kong, Shanghai and Tokyo. The latest of these include The Westminster Roppongi and The Belgravia Azabu apartment buildings, both in Tokyo. The company has also fostered strong relationships with local partners, co-investors and banks in each of the markets in which it operates.
Ben joined the Grosvenor Asia Pacific Board of Directors on 26 February 2015. The Board is chaired by Keith Kerr. Other Non-Executive Directors are Kensuke Hotta, Michael Lee, Norman Lyle and, from Grosvenor Group Limited, Mark Preston, Group Chief Executive, and Nick Scarles, Group Finance Director. Executive Directors are Ben Cha, Chief Executive; Koshiro Hiroi, Managing Director Development (Asia Pacific), and Chief Representative Japan; Yu Yang, Managing Director Investment (Greater China); and Ian Mair, Regional Finance Director.
For further information, please contact:
Yan Adams, Marketing Communications Executive
Grosvenor Asia Pacific
Tel: +852 2501 1961
Notes to Editors:
Grosvenor Group Limited
Grosvenor is a privately-owned property group, active in some of the world’s most dynamic cities. Our future success is tied to the sustainable growth of the cities in which we have a presence. We have a vested interest in the future shape of the urban landscape and aim to help create and manage attractive and vibrant cities in which people choose to live and work.
Today we have 17 offices in 11 countries and assets in 16 countries. We have regional investment & development businesses in Britain & Ireland, the Americas and Asia Pacific. Our international fund management business operates across all these markets and also Continental Europe. We also have indirect investments, managed centrally. As at 31 December 2013, the Group had total assets under management of US$19.5bn. Unusually for a private company, Grosvenor publishes a detailed reporting suite - Annual Review, Financial Statements, Environment Data and index of sustainability reporting under the GRI initiative - available at: www.grosvenor.com. Results as at 31 December 2014 will be published on 28 April 2015.
Grosvenor Asia Pacific
Grosvenor’s direct proprietary investments in property in Asia are handled through Grosvenor Asia Pacific. The business is positioning itself for the long term and has three distinct aims. First, it is building a luxury residential brand under the Grosvenor banner, differentiated by the quality of its design and exceptional finishes; secondly, it is growing a diversified portfolio of core investments in the residential and office sectors; and thirdly, looking further ahead, it is seeking to develop best –in-class buildings in the central business districts of Shanghai and Hong Kong as high-quality long-term investments through co-investment partnerships.
2014 marked Grosvenor’s 20th anniversary operating in the Asia Pacific region and saw the launch of a new residential development partnership in Japan. Highlights of the last twenty years include the completion of award-winning luxury residential developments with local partners in Hong Kong (Grosvenor Place, Repulse Bay; The Westminster Terrace, Hong Kong) and Tokyo (Grosvenor Place, Kamizono-cho, Tokyo; joint ventures with institutional investors, sovereign wealth funds and family offices to invest in core and value-add projects; and the foundation of the Asian Association for Investors in Non-listed Real Estate Vehicle (ANREV).