| | FEBRUARY 20249IN FOCUSMcDonald's Corporation aims to enhance its presence in China by opening 1,000 new outlets in the country this year. The expansion strategy focuses on reaching lower-tier cities, marking a deliberate move to explore new markets amid saturation in major cities like Beijing and Shanghai.During an analyst call, McDonald's CEO Chris Kempczinski expressed the company's anticipation of an opportunity to extend its development and market penetration in China. He highlighted the goal of reaching areas where McDonald's currently lacks a presence, emphasizing their strategic move to expand into lower-tier cities. The CEO articulated a broader vision, aiming to have 10,000 restaurants in mainland China by the conclusion of 2028.Kempczinski's remarks outlined a strategic growth plan for 2024, building upon the success of the company's prior expansion initiatives, including the opening of 1,000 outlets in 2023. He conveyed confidence in the company's ability to meet its development aspirations, indicating a continuation of similar expansion efforts in the coming year.This expansion strategy aligns with McDonald's broader approach to tap into new markets and address saturation concerns in major cities like Beijing and Shanghai. The emphasis on lower-tier cities reflects a deliberate effort to explore untapped opportunities and consolidate the company's position as a major player in China, its second-largest market. UK property development and investment firm, Native Land, has welcomed Chris Fossick as a non-executive director. Formerly serving as the CEO of JLL Southeast Asia for 17 years, Fossick played a key role in overseeing JLL's business in the region. During his tenure, he facilitated commercial real estate transactions totaling over $30 billion across Singapore, Japan, Southeast Asia and Europe.Chris Fossick, in addition to his role as a non-executive director at Native Land, served as an independent non-executive director. He held positions on the Audit and Remuneration Committee and chaired the Nomination Committee for Pacific Century Regional Developments, a company listed on the Singapore Exchange (SGX). Fossick's notable contributions in Singapore include representing clients in more than 30 major developments, such as Millenia and Centennial Tower, Marina Bay Financial Centre, Asia Square, and Guoco Tower. His achievements also encompassed facilitating significant transactions like the $4 billion sale of Asia Square and the $1.5 billion sale of Duo.Alasdair Nicholls, Chief Executive of Native Land, expressed the significance of Fossick's appointment, stating that as a prominent advisor in the Asian market, Chris brings invaluable global real estate insights to Native Land's board. His wealth of experience is expected to serve as a crucial link between the Asian and UK markets, particularly as Native Land expands its collaborations with major Asian partners and brands. MCDONALD'S PLANS EXPANSION IN CHINA WITH 1,000 NEW OUTLETSCHRIS FOSSICK JOINS NATIVE LAND AS NON-EXECUTIVE DIRECTOR
< Page 8 | Page 10 >