Savills, a leading global real estate service provider established in
1855, celebrated the opening of its new office in Yangon, Myanmar on 16
December 2013. This continues Savills regional growth and push into
Indochina property markets. .
The opening ceremony
(pictured) was attended by Ms. Daw Soe Sint Win, Deputy Director of the
National Planning Department of Yangon Region as well as Mr. Matthew
Hedges – British Deputy Ambassador.
Chris Marriott, CEO of
Savills South East Asia, said: “I am excited about the opportunities in
Myanmar and the opening of our office is a new milestone for Savills
both globally and I the Asia Pacific region. Opening in Myanmar is
another step in our vision to build strength in the ASEAN region as a
precursor to the establishment of the new economic community in 2015.
With interest in Myanmar intensifying and foreign capital being injected
in virtually every sector of the economy, I am expecting Savills to
play a major role in the Myanmar and emerging Indochina property
markets”. I wish Richard Emerson and the team here all the very best in
their new venture".
Savills has market dominant offices
throughout the Asia Pacifc region and offers full ranges of real estate
services, including investment sales, leasing, research, valuations and
property management. The company’s long term vision, strong ethics and
solid client relationships combined with talented and dedicated staff
have enabled Savills to succeed and continue to grow.
During
the past 12 months, Yangon property markets have delivered outstanding
performance. Office rents have risen by 80 percent, 5 star hotel room rates
have increased by 70 percent, serviced apartment rents have grown by 50 percent and
quality retail rents have gone up 10 percent.
Neil MacGregor, Managing
Director of Savills Vietnam, commented: “I have recently travelled to
Hong Kong, Korea, Japan and Taiwan to brief investors and developers on
the market outlook and opportunities in this emerging Indochina region.
Myanmar has been a hot topic for discussion. There is no doubt that
Myanmar and the Indochina markets will be increasingly active over the
years to come.”
Richard Emerson, Country Manager of Savills
Myanmar, said “Myanmar is now attracting an influx of investors seeking
opportunities. With our full service agency offering an in depth
understanding of Indochina markets, we are able to totally support our
clients throughout their property processes. We have recently completed
refined quality research focusing on all aspects of the current and
future market outlook in Yangon. This will provide property participants
with robust information to ensure accurate decision making and mitigate
risk. Our team is Yangon experienced; we have already taken
instructions across a variety of brokerage disciplines, including office
and retail leasing, development feasibilities, market research,
valuations and investment brokerage and look forward to meeting our new
clients. ”
The opening of Savills Myanmar office increases the
number of Savills Asia Pacific offices to 46 in 11 countries of Asia
Pacific region.
Andrew Batt,
International Group Editor of PropertyGuru Group, wrote this story. To
contact him about this or other stories email andrew@propertyguru.com.sg
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