CBRE Group is to buy a 49% interest in a Malaysian real estate services provider.
CH Williams Talhar & Wong Sdn Bhd, WTW Real Estate Sdn Bhd and WTW Property Services Sdn Bhd, also known as WTW, will rebrand, as CBRE | WTW.
It will be led by Foo Gee Jen and Danny SK Yeo, the current leaders of WTW, with the transaction expected to complete during the second quarter of 2016.
Founded in 1960, WTW provides valuation, market research, consultancy, estate agency, project marketing, corporate real estate and property management services from 13 offices across Malaysia.
Steve Swerdlow, chief executive of CBRE Asia Pacific, said: “CBRE | WTW, alongside our existing occupier outsourcing business in Malaysia, will provide a deep, broad platform that provides clients with access to a comprehensive suite of market-leading real estate services.
“CBRE | WTW creates powerful advantages for clients of both firms, combining WTW’s valuation, agency and capital markets expertise with CBRE’s full-service offering.”
CBRE said Malaysia is well positioned to benefit from the increase in economic and investment activities expected from the liberalisation of capital inflows into the ASEAN Economic Community.
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