CBRE partners WTW in Malaysia to become CBRE|WTW

PETALING JAYA (May 17): C H Williams Talhar & Wong (WTW) Sdn Bhd – Malaysia’s oldest and largest real estate service provider – is joining forces with CBRE Group, the world’s largest commercial real estate services and investment firm to become CBRE|WTW.

The move will enhance the presence of both firms locally and internationally, said WTW managing director Foo Gee Jen (pictured).

He told TheEdgeProperty.com CBRE had acquired a 49% stake in WTW under the joint-venture (JV) agreement.

Foo, however, did not disclose the price CBRE paid for its stake in the firm.

“Although there will be some changes in shareholding and the company will be rebranded as CBRE|WTW, the management structure of WTW will remain the same,” he added.

Currently, WTW is led by Foo and deputy managing director Danny Yeo. Established in 1960, WTW has a nationwide network of 23 offices.

On the potential new services to be added after the rebranding exercise, Foo said WTW is looking at financial restructuring or funding source-related services that the company could tap into.

“We are still looking into it, if there are any missing elements, we will invite them to come in to enhance our service and explore more opportunities,” he added.

WTW and CBRE Asia will sign the JV agreement tomorrow.

CBRE Asia chairman Willy Shee said with the partnership, CBRE will be able to leverage on WTW’s network of clients in various areas including valuation, market research, consultancy, estate agency, project marketing, corporate real estate and property management services across Malaysia.

In addition, WTW will be able to tap CBRE’s wider global platform and advisory and transaction, brokerage, capital markets and asset services.

CBRE Asia Pacific chief executive officer Steve Swerdlow said the new partnership will pave the way for an enhanced level of service for the clients. Clients currently serviced by WTW’s valuation, market research, consultancy, estate agency, project marketing, corporate real estate and property management services will now be able to enjoy CBRE’s wider service platform to take their businesses beyond Malaysia.

"Other than that, WTW will be able to plug into CBRE’s occupier outsourcing business called Global Workplace Solutions, which serves a blue-chip list of occupiers across a wide range of industries, particularly financial services, healthcare, industrial or manufacturing, life sciences, technology and telecommunications," he added.

WTW chairman and co-founder Mohd Talhar Abdul Rahman said the partnership will generate greater opportunity for the company to connect Malaysian clients to invest in real estate activities internationally.

“CBRE’s extensive global coverage would provide a ready platform for connecting our clients to rightly match their specific investment criteria. Having such a connection enables us to more effectively conduct the critically necessary due diligence and reality checks of available property investments,” he added.

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