The alliance with Malaysia-based VPC is its first venture into Asia. Founded in 1765 with offices in Europe, Middle East, South Africa and the Caribbean, the alliance is in line with Cluttons’s vision to source more than 50% of its business from international sources, said Cluttons senior partner Bill Siegle at the signing on Thursday, July 8.
“We have operated in the Middle East for close to 35 years, and based on the mutual benefits of the relationships old and new, it was only natural for our focus to move further east, towards the fast growing economies of Asia and South East Asia,” said Siegle.
“This is recognising the fact that we live in a truly global market where international networks and cross-border relationships will play an increasingly important role,” he said.
Siegle sees Malaysia as a strategic base and effective gateway into the complex Asian property markets.
“Our partnership with VPC reinforces our strong belief in the strength and resilience of the Asian economies, with countries such as Malaysia leading the way to identify new opportunities for cross-border investment,” he said, adding that it is also a key country for growth.
VPC Asia Pacific is a regional grouping of international property consultants.
“We are drawing on the significant experience of the Asian property market which VPC has built-up over the years, with a network covering more than 40 cities in 8 major Asian countries,” said Siegle.
He also anticipates that as the partnership becomes more established, there would be opportunities to grow and expand the existing network across Asia Pacific.
James Wong, regional chairman of VPC Asia Pacific and managing director of VPC Alliance (Malaysia) Sdn Bhd called this alliance “a marriage of two networks” in Asia and Europe.
“We will also be able to expand on our professional services as there will be some professional services that Cluttons provide that the VPC network does not provide such as asset management, fund management, telecommunications consultancy and property conservation,” said Wong, adding that VPC would also be able to tap on Cluttons’s client base.
Wong said property funds and real estate investment trusts at the moment do not offer enough attractive investment properties while Malaysia Property Incorporated’s (MPI) efforts to promote Malaysia as a preferred property destination has had limited success.
“Malaysia is generally an unexciting market, compared to the more matured property markets of Hong Kong and Singapore. So, with the alliance with Cluttons, we hope to create more excitement in the property market by introducing new players from Europe and Middle East into our market,” said Wong.
The signing ceremony was witnessed by Plantation Industries and Commodities Minister Tan Sri Bernard Dompok.
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