PETALING JAYA: Property consultancy firm CB Richard Ellis (CBRE) Malaysia will see three of its senior executives, Christopher Boyd, Allan Soo and Paul Khong, trade under the Savills name in Malaysia from March 1.
Savills Malaysia said that the operating businesses of CBRE executive chairman Boyd, managing director Soo and executive director Khong in Kuala Lumpur, Penang and Johor respectively, would trade under the Savills name.
Boyd, executive chairman of the rebranded Savills Malaysia business, said they were delighted to be joining forces with Savills.
“We felt the time was right for us to combine our own market knowledge and client base with Savills’ know-how through the strategic sale of a stake in our business.
“We chose Savills as our partner as it has a very good cultural fit with our own team and an excellent Asia-Pacific and global platform within which we could work,” he said in a statement yesterday.
Soo and Khong will serve respectively as managing director and deputy managing director of Savills Malaysia.
Chris Marriott, chief executive officer for Savills in South-East Asia, said that this new partnership in Malaysia would extend its already strong offering in the Asean region given its expansion into Indonesia.
He said Boyd, Soo and Khong had built a very strong practice in Malaysia, adding that he was “delighted that Savills can now offer our services through their high quality, professional team.”
According to Savills Malaysia, the merger will look to take advantage of Savills’ global strengths and leverage its recent acquisition of Studley tenant advisory business in North America.
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 group’s businesses will be known as Savills (M) Sdn Bhd, Savills (KL) Sdn Bhd, Savills (Penang) Sdn Bhd, Savills (Johor) Sdn Bhd, and Savills (Project Management) Sdn Bhd.
The merger sees the discontinuation of the association with CBRE/CB Richard Ellis, although the Malaysian operations will continue to service long-standing joint appointments by agreement.