Global property consultancy CBRE has entered into an agreement to acquire a 49 percent interest in C H Williams Talhar & Wong (WTW), a leading real estate firm in Malaysia.
The business will be rebranded as CBRE | WTW, and will be led by two experienced real estate professionals, Foo Gee Jen and Danny SK Yeo, the current leaders of WTW.
The transaction is expected to close within this quarter.
Founded in 1960, WTW provides valuation, market research, consultancy, estate agency, project marketing, corporate real estate and property management services, with 13 offices across Malaysia.
Steve Swerdlow, CEO of CBRE Asia Pacific, said: “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 manages about 5.2 billion sq ft of commercial property and corporate facilities globally.
Meanwhile, Malaysia is set to benefit from the increase in economic and investment activities from the establishment of the Asean Economic Community, said CBRE.
The consultancy added that the Malaysian Economic Transformation Programme, which is expected to generate US$400 billion in investments by 2020, will help to catalyze that growth.
Image: Sourced from Dealstreetasia.com
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
