Kuala Lumpur, home to one of three offices newly acquired by Savills in Malaysia Photo: Luke,Ma
Christopher Boyd, Allan Soo and Paul Khong own the entire business, with offices in Kuala Lumpur, Penang and Johor. The already strong team offers a full range of real estate services to local and international clients and from 1st March 2015 the operating businesses will change names from CBRE and trade under the Savills banner.
The Malaysian business is a full service agency and advisory business with skills in investment and capital markets, corporate real estate, retail consultancy, property and project management in addition to a strong consultancy and valuation business. The merger will look to take advantage of Savills global strengths and leverage off its recent acquisition of Studley tenant advisory business in North America.
Commenting on the new partnership, Christopher Boyd, executive chairman of the rebranded Savills Malaysia Business, said: “We are delighted to be joining forces with Savills. We felt the time was right for us to leverage our own market knowledge with Savills know-how and client base and we felt this could best be done through a sale of a significant stake in the business.
“We chose Savills as our partner as they have a very good cultural fit with our own team and an excellent Asia Pacific and global platform within which we could work.”
The agreement follows Savills’ expansion into Indonesia, as the company buidls a strong presence in the ASEAN region.
“Chris, Allan and Paul, who share a similar approach and principles to doing business, have built a very strong practice in Malaysia, comments Chris Marriott, chief executive officer for Savills in South East Asia.
“With the upcoming establishment of the ASEAN Economic Community (AEC) by 2015, I see cross border trade and investment growing in this region, with Savills being a major player in the continuing growth of the region’s real estate service industry.”