Knight Frank and its US partner Newmark have taken their first steps into South America, following an increase in investor interest in the region and demand from their occupier clients.
The partnership has opened offices under the Newmark Knight Frank banner in five cities in Brazil, with headquarters in São Paulo.
They have hired agent Sergio Negro, who was head of the Brazilian operation of Colliers International, to head the new 24-strong business.
This is the first international expansion by the partnership since forming last September, after KF ended its tie-up with Grubb & Ellis.
Newmark Knight Frank executive vice president Edward Friedman said: “Countries like Brazil, which will be one of the fastest growing economies in the world over the next five years, are now on the global landscape. We have to be there.”
Knight Frank partnership manager in London, John Snow, said: “Brazil will be our springboard to further expansion in South America, with offices in Argentina, Peru and Chile to come.”
The partnership also plans to open offices in Venezuela, Ecuador, Paraguay and Colombia by the end of 2007. It will enter Canada for the first time next year, starting in Toronto and Montreal.
References: EGi News 05/06/06
