Apart from picking up 6 awards at the most recent Thailand Property Awards 2012, the strength of the Thailand business was an important factor in Colliers winning the highly prestigious Asia Award for Excellence for Best Property Advisory / Consultancy at Real Estate Investment World Asia 2013 on June 26th.
Mr. Simon Landy, Executive Chairman of Colliers International Thailand says, “We have always positioned ourselves primarily as an advisor to landlords, developers and end users, so it is very gratifying to have this achievement recognised by our peers and clients. From this base, we have grown a strong brokerage business that always puts the client at the centre by providing straightforward and market-based advice.”
Business prospects remain bright given the strong fundamentals of the company and of Thailand’s economy. “Even though some sectors of the market have seen strong growth in the last few years, Thailand is steadily emerging as a key hub for North ASEAN, and this will lead to more demand growth in the near future,” said Mr. Landy. “Myanmar could be a game-changer for Thailand, and that’s why we’ve been quick to move in and build on its growing business links with Thailand. This could put Thailand in the driving seat for the sub-region that we like to call the “CaLM” countries – Cambodia, Laos and Myanmar.”
Colliers’ Thailand Business Continues to Grow
Colliers continues to be the fastest-growing international property consultancy business both in Thailand and internationally. In Thailand, it has achieved a balanced portfolio with revenues split across its 4 main business sectors: Advisory Services (20%), Residential Agency (28%), Commercial Agency (27%) and Property Management (25%).
As the backbone of the business, Advisory Services division has grown into a large multi-skilled team of advisors, architects, market and financial specialists providing services throughout the sub-region. “The team’s strength is recognised regionally by Colliers and we now find ourselves completing projects not only in Thailand but also Myanmar, Cambodia, Laos, Vietnam and even Singapore, “ said Mr. Landy. Many of these projects feed directly into success stories for the other divisions of the business, including consultancy for the newly launched The Portrait project of Krungthai Land Development Company on Rama IV Road which is now a successful agency appointment for the company.
The company’s agency services cover all sectors of the market. Most active this year has been its residential agency, where Colliers is now appointed on some 10 projects, such as The Portrait, as well as successful projects through its offices in Hua Hin (the Charn Issara/Sahpat Baan Thew Talay (project) and Pattaya (most recently, the Orion project). In addition, the Thailand office is now firmly plugged into the Colliers network of 482 offices in 62 countries in offering Thai investors the opportunity to purchase prime residential units overseas, mainly in the UK and USA.
Meanwhile, the company’s property management services has won several important new assignments this year, including its first commercial office tower, Le Concorde building on Ratchadapisek Road with a total area of 26,000 sq m. and condominium projects such as D25 on Sukhumvit Road.
In commercial agency, Colliers continues to focus on representing leading multinational tenants in their search for office, retail and industrial space while developing a strong investment business. This year, for instance, has seen 3 deals close in Phuket alone which signals a strong move by the company into the hotel and leisure segment where it has unparalleled expertise.
Colliers’ hospitality expertise builds on the strategic strength of the Thai economy, where tourist arrivals continue to grow strongly. At the same time, Colliers is active in advising investors on how best to maximise the opportunities presented by the new Real Estate Investment Trusts (REITs) which provide an alternative vehicle for Thai and offshore investors to enter the market, both locally and overseas.