Big plans for region
THE world's leading international estate agents are expanding aggressively throughout the Asia-Pacific region, according to a leading Hong Kong-based agent.
Rick Williams, joint managing director of Colliers Jardine, said: ''Most agents are aggressively expanding their market coverage in developing countries, such as the Philippines, Malaysia, Thailand, China, Indonesia and Vietnam.'' Colliers has announced that it will open its first four offices in the Philippines in October.
This was part of a continuing expansion plan, under which the company opened branches in Vietnam earlier this year.
Mr Williams said Colliers had the biggest office network of any estate agency in the Asia-Pacific region with 43 branches in 12 countries.
He said Colliers Jardine was part of the Colliers International network, which operated 171 affiliated offices worldwide.
Jones Lang Wootton (JLW) ran a similar international office network of 65 offices, according to Susan Tse, regional public relations officer for the company.
But David Runciman, overseas operations director at Richard Ellis, said it was 100 per cent owned by the company, unlike JLW and Colliers which were network operations.
Richard Ellis managed 38 real estate consultancies in the Asia-Pacific region. There are two offices in South America.
Peter Feely, a director at Chesterton Petty, said that with 13 offices in the Asia-Pacific region and 115 worldwide, it was the second biggest agency after Colliers.
Chestertons was also the biggest agency in Britain, he said.
The company was planning to expand the network further in the Asia-Pacific region, possibly to India, Vietnam and China.