Edmund Tie will continue to lead the firm as Chairman. Source: Edmund Tie & Company
Property consultancy DTZ Debenham Tie Leung (SEA) has been relaunched as Edmund Tie & Company, following Cushman & Wakefield’s sale of its majority stake to Edmund Tie & Company Holdings.
PropertyGuru understands that in Singapore and other Southeast Asian countries, the company’s logo will be changed to reflect the new name.
Under the new organisational structure, real estate veteran Edmund Tie will continue to lead the firm as Chairman, while Ong Choon Fah will remain as Chief Executive. Ong also heads the research and consulting departments.
According to Tie, the origins of the company go back to 1995 when it was one of the first local property consultancies. Soon after, it expanded overseas, joining forces with C Y Leung & Company in North Asia and DTZ Debenham Thorpe in Europe.
“The strategic decision to once again operate under the Edmund Tie & Company brand is motivated by our longstanding commitment to form a firm driven by a distinctly Asian business philosophy, yet offering international standards of expertise,” said Tie.
The move comes amid slowing economic conditions and a muted property market. But the firm remains optimistic about the region’s future.
“The formation of the ASEAN Economic Community, of which Singapore is a member country, is expected to boost the competitiveness and connectivity of the region, leading to greater efficiencies and output,” said Ong.
“As more foreign trade agreements are being put in place, combined with an increasingly affluent population and growing middle class, Southeast Asia will become increasingly attractive to investors. As the region’s gateway city, Singapore will have a key role to play,” she added.
Edmund Tie & Company has about 500 staff across the region, with operations in Malaysia and Thailand.
It is currently in negotiations with several major international real estate firms to expand its global reach.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
