Savills has expanded its array of services with the acquisition of a Singapore-based boutique investment advisory company.
With this acquisition, Savills Asia Pacific Real Estate — a new investment arm of Savills — will focus on institutional and professional investors, as well as international high-net worth individuals and family offices. The new unit will invest in and handle property assets across Asia Pacific.
Savills established the new unit after its acquisition of Asia Pacific Real Estate earlier this year. The boutique investment advisory firm was established in mid-2011 by Steffen Wolf, former Managing Director of Union Investment’s Asia Pacific property unit.
Mr. Wolf now joins Savills as Managing Director and his unit can now leverage the broad range of resources and country expertise offered by Savills, as well as give clients access to the right opportunities with the best local market advice.
The company’s clients, mostly from Europe, are searching for quality property assets with stable returns in Asia to invest in, said Mr. Wolf, adding that there is a particularly good demand for business park, office, residential and hospitality assets.
The deal takes Savills closer to its aim to become the real estate adviser and manager of choice both in the country and in the region, said Chris Marriott, CEO of Savills for Southeast Asia.