Property consultant Marlin Land says it is going to embark on a US$20 million regional expansion programme, primarily funded by United States-based property consultants Cushman & Wakefield.
In return, Marlin will change its name to Cushman & Wakefield to reflect the American consultancy's increased involvement in the company, Marlin's chairman Marcus Shaw said yesterday.
Marlin was set up in 1994 as a joint venture between Cushman, British property consultants Healey & Baker, Grosvenor Estate Holdings and Shaw Land Investment.
Cushman and Healey is expected to increase its stake in the partnership to more than 50 per cent.
Mr Shaw said the renamed consultancy would open offices in Beijing and Singapore next month and in Shanghai by the end of the year.
There are also plans to open eight more branch offices in Southeast Asia over the next 18 months, he said.