HONG KONG (Jan 11): Property brokerage Colliers International said on Wednesday it had struck a partnership deal in South Korea with the Real Estate Development Network.

Alexis Jung, the Seoul office manager for operations at Colliers, told Reuters that the two companies had cooperated on a project-by-project basis for 10 years. But this strategic alliance formalises the arrangement to work together on property development, consulting and services in Korea.

The Real Estate Development Network is headed by Jay Kang and focuses on property consulting and project management in South Korea. It is currently lead project adviser for Raintree, the project management company set up by the Korea Asset Management Corp (KAMCO), on overhauling the nonperforming loans that KAMCO owns, according to the Colliers statement on the partnership.

Colliers International is a subsidiary of FirstService Corp and offers property brokerage and consulting services globally. — Reuters

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