Savills and US broker Trammell Crow have extended their strategic alliance and its associated outsourcing joint venture, Trammell Crow Savills (TCS), to cover the Asia Pacific Region.
Trammell Crow Savills (Asia Pacific), based in Hong Kong, will provide project, facility and transaction management services throughout the region. Like TCS, Trammell Crow Savills (Asia Pacific) is 51% owned by Trammell Crow and 49% owned by Savills.
Trammell Crow Savills (Asia Pacific) has also acquired the FPDSavills subsidiary Construction Management International (CMI) for £5.6m, with the price subject to profit targets. James Osborne of CMI has been named managing director of the company.
Aubrey Adams (pictured), chief executive of Savills, said: “This is an exciting further development in our strategic alliance with Trammell Crow. I am confident that Trammell Crow Savills will rapidly establish itself as the leading corporate real estate outsourcing company in both Europe and Asia Pacific.”
Bill Concannon, CEO of Trammell Crow corporate services, commented: ‘There is huge potential in the Asia Pacific Region. We had always intended that our relationship with FPDSavills would have this geographic breadth and are delighted that we can now offer our many existing North American outsourcing customers and other potential customers coverage through Trammell Crow Savills in both Europe and Asia.”
EGi News 27/09/00
