Posts Tagged ‘property consultants’

Cost multiplying for industrial market due to floods

November 20, 2011

The ongoing floods that have affected more than 59 provinces in Thailand have devastated huge swathes of agricultural land but the extremity of the floods have put more damaged industrial activity, including industrial estates and further potential flooding threatens more central locations causing greater disruptions to the supply chain, according to Colliers International Thailand.
While the floods have ravaged many parts of Thailand since August, relatively little damage to manufacturing was inflicted due to most factories being located away from initial flooding areas. However this changed on October 5th when water levels reached their highest point in living memory and Ayutthaya, home to significant manufacturing, was seriously affected. According to Narumon Rodsiravoraphat, Senior Manager for Industrial Services at Colliers, far greater damage was caused to industry in the last few days compared to the previous few months. “Over a hundred times greater financial loss to industry was incurred since 5th October due to severe damage to two industrial estates and two others have been evacuated in anticipation of flood waters reaching them”, said Narumon.

Many warehouses and distribution centres have been seriously affected especially in Ayutthaya area and along the main highway of Phahonyothin road which has become effectively the channel for water in the north to flow down to the central provinces. Over the course of the week further flooding is expected due to looming storms and industrial facilities in Pathumthani and Bangkok itself are now in danger.

According to Narumon, more than 500 factories have been forced to close during this situation and more than 100,000 workers have been affected from this crisis. “The damage from the flooding may be take up to two to three months to be accessed and rectified after the water level decreases as companies must take time for renovation of facilities as well as repair and re-operation of machinery”, she added.
The industrial market has picked up rapidly from 2010 and there has already been a shortage of warehouse space in some locations, especially good quality large space in Ayutthaya and some Bangna areas. Lamchabang, where there is strong demand for free zones, also seems short of supply. “Developers should understand more of the market demands and requirements in terms of specification, locations, layout, and general/free trade zones, etc. And we do hope that all new warehouse developments will all be raised floor”, said Narumon.
Although the initial reaction after the flood will be for the relocation of manufacturing, in reality manufacturers will remain rather sanguine according to Patima Jeerapaet, Managing Director of Colliers. “Many have invested significant amounts of money over time and they are just not going to walk away”, he said. “It also takes time to create a supplier network as well” he added. Patima also noted that serious damage was not limited to Thailand and the horrors of the flood are also evident in Cambodia, Philippines and Laos. “Manufacturers will be wary of relocating to countries with less reliable infrastructure to cope with floods and they may decide that Thailand is a better location than say Vietnam or Cambodia due to this fact. However new investment for manufacturing locations may be shifted towards non flooding areas in Thailand. All factories, distribution centers, and logistics companies also must create and work out their contingency plan well enough in advance”, said Patima.

One possible ramification could be the development of back up storage centres in locations upon higher ground that can protect goods from damage. “After the riots in 2010 many office occupiers considered back up locations and the same may now apply for industrial activity”, said Patima. However, unfortunately the flooding story has not run its course and a better assessment can be made in a week or so time. “We only hope that further damage is kept to a minimum”‘ added Patima.

Tokyo Records Highest Warehouse Rentals Globally In 2010

May 2, 2011

Asia Pacific warehouse demand is expected to take a dip due to the impact on the regional trade after the March 11 earthquake and tsunami in Japan

May 2, 2011, Bangkok – Colliers International recently released the Global Industrial Highlights – Second Half 2010, with Asia Pacific emerging yet again as the most robust region, North America registering a pick-up in leasing activity while Europe, Middle East and Africa (EMEA) reported a modest growth.

In terms of warehouse rental, Tokyo topped the world at USD 22.56 as of end 2010. This is followed by London – Heathrow, Zurich, Hong Kong and Geneva – the global top five industrial warehouse rentals.

Asia Pacific
In the second half of 2010, exports in many countries posted encouraging growth rates, with healthy economic growth in the region and exporters boosting sales both within the region and globally.  Asia Pacific continued to be the world’s most robust region.  Across most markets in Asia Pacific, warehouse rentals were steady or in upward swing.  Tokyo’s warehouse rentals were the highest at the end of 2010, followed by Hong Kong and Singapore at the 4th and 7th spot respectively.

Thailand witnessed a continued surge in industrial estate activity over the course of 2010 with an additional supply of 8,914 rai (3,523 acres) of Serviced Industrial Land Plots being added to the market.

However, with Japan’s devastating earthquake on March 2011, trade across the region will feel some effects with demand for warehouse space in the region expected to be sluggish compared to 2010. Disruptions in the supply chain have been felt in Thailand, a strong manufacturing base for Japanese companies. However over the medium and long term Thailand is expected to benefit as Japanese multinationals consider moving more production away from its own shores.

North America
Both the United States and Canadian warehouse market registered a noticeable pick-up in the second half of 2010.  Warehouse demand in the United States was concentrated in a number of port-related markets, while in Canada, most markets recorded a fairly brisk period in the second half of 2010.  Meanwhile, with a return of demand and continued drop-off in construction, vacancies in Canada and the United States decreased.

Amid signs of economic recovery in both countries, occupancy gains are expected to be sizeable in 2011 given healthy gains in manufacturing and a continued bounce-back in consumer spending.  However, rentals are expected to remain largely directionless this year.  Taking the second half of 2010 as an example, rental in United States fell 2.9% while those in Canada increased marginally by 0.2%.

EMEA
In EMEA, various markets were characterised by sluggish leasing activity and little expansion.  Warehouse rentals again kept steady in the second half of 2010, similar to the first six months in the year, although Europe is home to some of the most expensive warehouse rentals in the world.  For example, London – Heathrow, Zurich and Geneva were included in the top five most expensive warehouse rentals in the world.

London – Heathrow not only registered the most expensive warehouse rentals in EMEA, its prime industrial land prices at USD 56.82 per sq ft was the highest in the region and remained far in excess of any other markets in EMEA.

Bangkok condominium market cools down for Q1 2011

April 28, 2011

Concerns regarding an overheating condominium market supply were allayed in Q1 2011 with a fall of around 46% of new launches compared to  the previous quarter according to the latest Condominium Market Report from Colliers International Thailand.

Approximately 10,800 units were launched in Q1 2011 with slightly more coming from suburban Bangkok . The six months prior to Q1 were a frenetic time for the condominium market and Antony Picon, Associate Director of Research at Colliers believes this represented an aberration rather than a trend. “Many of the launches were tapping into the first time buyer market with small unit sizes and affordable prices and the reaction was similar to any new high profile product hitting the market  for the first time such as the ipad”, he said.  “After a while things steadied and become more sustainable and that is what we are seeing with condominiums now”, he added.

Patima Jeerapaet, Managing Director of Colliers, stated that the recent Bank of Thailand’s loan to value requirements and the steady rises in interest rates went a long way to restrain the breakneck pace of launches. “There was considerable media attention at the end of last year regarding the high number of launches and prudent action has been taken that allows the market to consolidate rather than come to a complete halt and this can only be good for the market in the long term”, Mr Patima pointed out.

Increasing land prices and construction costs are creating pricing pressures and it will be difficult for developers to pass these on the buyers, claimed Mr Picon. “Unit sizes can only be reduced by so much and already there is talk of action to limit this so any future price rises will only be possible with strong economic growth translating into higher wages”, he said.

New launches for Q1 2011 were down compared with the previous quarter by around 46%. Just under 10,800 units were launched in Q1 compared to around 20,000 in Q4 2010.

In Q1 2011, the Suburban Bangkok area trumped urban Bangkok with the higher number of units launched. Many projects in the Suburban Bangkok area contain over 600 units.

Within urban Bangkok, the Northern Fringe and Southern Fringe areas have shown the highest numbers with approximately 1,600 units or 15% of each location from the total.

New supply

 Approximately 3,500 new condominium units were completed and registered at the Department of Land in Q1 2011 and the total number of the whole of Bangkok was approximately 300,000 units, and more than 39,500 units are scheduled to be completed in 2011. The number of condominium units under construction and scheduled to be completed in 2011 is the highest since the global financial crisis in 1997.

The average selling price in the City area is the highest at more than THB 95,000 per sq m, however this is nearly 13% lower than the average selling price in 2010. This was due to less prestigious projects being launched in Q1 2011.

Bangkok Retail Market Report Year End 2010

January 25, 2011

The retail market in Bangkok remained resilient in 2010 against the backdrop of the troubles in April and May, according the latest report from the Colliers International Thailand. Rentals remained stable over the year and th ere was even a slight uptick in occupancy in all areas.  Around 185,000 sq m of retail space was added to supply in 2010 and in Q4 five community malls came online adding approximately 38,000 sq m. Although these community malls are small in size they represent an increasing feature of people’s daily lives, according to Patima Jeerapaet, Managing Director of Colliers. “They fit into the pattern of condominium development around the city”, he pointed out. “They are also beneficial to the environment as they reduce the need to drive long distances to shop”, he added.

The big story for 2010 was the sale of Carrefour’s hypermarkets to Big C, another hypermarket chain. This will create something approaching a duopoly and the high price recorded for the sale reflects the new reality for the retail sector in Bangkok’s urban area, contends Antony Picon, Senior Manager for Research at Colliers. “Impending legislation restricting large scale retail development in the centre of the city will lead to existing retail centres having a premium attached to them”, he said. Mr Picon believes that the Carrefour episode is unlikely to be last. “Developers are likely to scramble for these increasingly prized assets”, he added.

Future supply for 2011 is expected to be just shy of 300,000 sq m based on current projections. However one of the key stories over the next few years is the renovation of existing centres. Mr Picon referred to the total difference in design of retail centres now and those that are decades old. “Modern centres have designs that entice people to move up its levels by allowing them to see what is above, where older centres just have straight forward ceilings that block the views of the uppers floors”, he explained. Mr Picon pointed out that older retail centres need to be refurbished in order to maintain their customer base. “When a new centre is placed alongside a much older one the difference in appeal can be stark, so developers have no choice but to upgrade in order to remain competitive” he said.

RICS Thailand announces the new appointment of new Chairman and office bearers (2011-2012)

January 22, 2011

RICS (Royal Institution of Chartered Surveyors) announced today the new Chairman and office bearers for its Thailand board were elected on 13 January, 2011 (Thursday) for a one year term of office with immediate effect.  

Patima Jeerapaet, PhD, MRICS, MVAT, MTVA, is Managing Director of CIT (Colliers International Thailand) Property Consultants Co Ltd, a global real estate services firm equipped with more than 23 years of knowledge of Thailand’s property market.  In addition, he also chairs the Property Committee of Joint Foreign Chamber of Commerce in Thailand (JFCCT) in monitoring and enhancing Thailand’s property industry’s competitiveness.  He also serves as board member of Thai-Singapore Chamber of Commerce and Thai-Swedish Chamber of Commerce to promote Thai properties to Singapore and Swedish investors. 

The newly elected office bearers and members of Thailand Board are as follows: 

Major Office bearers:
Chairman:       Patima Jeerapaet
Honorary Treasurer: Navaporn Wongurai
Honorary Secretary:   Nicholas Brown
Elected Members: Apibarn Ariyakulkarn
Roy Beevor
Sonthaya Vanichvatana
Janet Geddes

Ian Hamilton

Simon Landy

C P Leong

Sutee Sumatanonsak

 Dr Patima Jeerapaet, the first Thai elected as Chairman of RICS Thailand, says “I am honoured to take up the post and hope to build on the achievements of Ian Hamilton and the executive team.  Having built a presence in Thailand for more than ten years, RICS Thailand has over 100 Chartered Surveyors practicing in the country.  I foresee the market of Thailand will continue to grow and become one of the key markets in South East Asia. I am looking forward to further strengthen membership services locally and create a strong RICS brand by working closely with fellow board members and staff of RICS.” 

About RICS & RICS Asia  

RICS (Royal Institution of Chartered Surveyors) is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity – providing impartial, authoritative advice on key issues affecting businesses and society. 

RICS is the worlds’ leading qualification when it comes to professional standards in land, property and construction. With over 150,000 members globally, RICS represents, regulates and promotes the work of property professionals throughout 146 countries. 

RICS Asia supports a network of over 11,000 individual professionals across the Asia region with an objective to help develop the property and construction markets in these countries, by introducing professional standards, best practice and international experience. It promotes RICS and its members as the natural advisors on all property matters. It also ensures that services and career development opportunities are provided to members. 

RICS Asia region covers national associations and local groups locating in Brunei, Malaysia, Singapore, Thailand, The People’s Republic of China and the SAR Hong Kong. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Japan, Kiribati, Laos PDR, Macao, Mongolia, Nepal, North Korea, South Korea, Taiwan, The Maldives, The Philippines, Timor East and Vietnam.

Serviced apartments weather hard times but future supply poses more problems

November 22, 2010

The serviced apartment market bounced back after a torrid Q2 with occupancy up as expats flocked back to the city, according to Colliers International Thailand research report for Bangkok serviced apartments in Q3 2010. While occupancy increased to around 60% in Q3 this still remains below the 70% recorded in the 3rd quarter of 2009. However Antony Picon, Senior Manager for Research at Colliers was upbeat regarding the numbers. “Considering what the sector has gone through the figures are robust. The Japanese are the key market for the longer stay segment of the market and most who left during the troubles appear to have returned”, he said.

But even if the market continues to pick up, the short term future could be bleak according to Patima Jeerapaet, Managing Director at Colliers. He pointed out that in three years from 2009 to the end of 2011 supply could have increased by 40% which would be difficult for even a strong market to absorb. “The long term stay market, while keeping this sector stable compared to hotels, also means that you are highly unlikely to have an upsurge in expats coming to work here in a small space of time”, Mr.Patima said.

The new growth area for apartments is along Thong Lor road in late Sukhumvit.  Considering the distance from the CBD, rental rates in late Sukhumvit are the second highest in Bangkok, even greater than the upmarket Central Lumpini. Jean Marc Garret, Director of Advisory Services | Hospitality explained that a higher proportion of Grade A newer branded residences located in Thong Lor drive up overall rental rates. “Also the area has more of a community feel and is very popular with Japanese expats” Mr. Garret remarked. “The area also benefitted somewhat from the troubles in May as many expats felt it was far away from the riots witnessed on international TV stations”.

Serviced apartments are sandwiched between two types of business, according to Mr Picon; competing for short term business with hotels and long term stays with apartments for lease or condominiums. “They can do this successfully but many will have to distinguish themselves more in the future”, he added.  “ With their larger unit configurations some could develop a niche in the medical tourist market, especially for families coming from the Middle East or even create flexible home offices and meeting rooms for visitors who wish to conduct business”, he added.

Asia Investors Show Greater Optimism Pointing to a Full Upswing in Real Estate Markets

November 18, 2010

73% Expected to Expand Their Portfolio; 59% of Investors Eye on Overseas Investment
(Shanghai, Hong Kong and Singapore are Preferred Investment Targets in Asia)

Most commercial real estate markets around the world have passed the bottom and are now on the rise, according to the majority of respondents in the Colliers International Global Investor Sentiment Survey for the third quarter of 2010.  In Asia, investors appear to be even more optimistic with 91% of respondents expressing a desire to buy property in their domestic region, and 73% considering to expanding their property portfolio in the coming 12 months. 

Shanghai in China, followed by Hong Kong and Singapore, were the most-preferred hot spots for Asian investors looking to buy office space over the next 12 months.  Shanghai is on its way of recovery; Hong Kong and Singapore are expected to have further upside in the office sector.  Individual investors reported their intention to pursue residential investment opportunities in second-tier Chinese cities such as Nanjing and Hangzhou.

Moving from 6 o’ clock on the global property clock in 1Q, the average time today according to Asian investors is slightly past 7 o’ clock.  In the coming 12 months, the Asian market is predicted to have moved towards between 8 and 9 o’ clock. And in both cases, the greatest number of respondents sees the market growing at an even faster rate.

“The survey shows that Asian investors are confident on the macro-fundamentals in the region,” said Piers Brunner, chief executive officer, Asia. “Personal and corporate debt levels are low.  Interest rates are low and liquidity is high. Optimism in the market is reinforced by 75% of respondents in Asia saying a double-dip recession is unlikely.”

However there are concerns among Asian investors, such as the uncertainties on government policies to cool the overheated markets, change in market liquidity and interest rate increases.

MORE ASIAN INVESTORS EXPECT TO EXPAND THEIR PORTFOLIO

Looking ahead to the next 12 months, the largest group of Asian investors (73%) expect to expand their property portfolio.  This figure was higher than the 65% registered in 1Q 2010.  The next largest group of respondents (18%) expect to rebalance the size of their portfolio over the coming year.

STRONG DESIRE TO BUY PROPERTY IN ASIA

The desire to buy property in Asia among Asian investors continues to rise.  91% of respondents expressed a desire to buy property in their domestic region, compared to 78% in 1Q 2010. The high percentage can be explained by the growth expectations in Asia, primarily driven by the Chinese market. 

While globally only 30% of respondents considered investments outside their domestic markets, 59% of respondents in Asia reported a desire to buy overseas properties. They would prefer Sydney office and Brisbane retail assets in Australia.  Others think office properties in New York and Chicago would offer good market entry points amid the prevailing low real estate prices.

NEW OPTIMISM POINTS TO AN UPSWING IN REAL ESTATE MARKETS ACROSS THE WORLD

Globally, the largest group of survey respondents put the Global Property Clock for their particular regions at eight o’clock, with the second and third largest groups at six and seven o’clock, respectively. These responses indicate that most markets globally are on the upswing and are characterized by rising demand, falling availability and vacancy and rising headline rents. This marks a significant move from Colliers International’s last Investor Sentiment Survey conducted in Q1 2010, when most respondents placed their markets at between five and six o’clock.

 

Some additional key global findings of Colliers International’s Q3 2010 Global Investor Sentiment Survey include:

  • 90% of respondents said they planned to expand their current level of real estate holdings within a year or maintain them at current levels.
  • New York, Chicago, San Francisco, Washington, London, Sydney, Singapore and Hong Kong were listed as key cross-border investment destinations. Emerging markets mentioned include Poland, Ukraine and Brazil.

Nearly 80 percent think debt will be easier to access in the next 12 months. Respondents who said they believe the cost of debt would rise in the next 12 months fell slightly from the first quarter of 2010, with 44 percent predicting an increase versus 52 percent six months ago.

KEY REGIONAL FINDINGS

  • In Western Europe, 62% of respondents now intend to make cross-border investments, a notable increase from the figure of 30% for Q1 2010.
  • In United States, a significantly greater proportion of investors (65%) indicated they are considering selling property over the next 12 months versus the Q1 2010 response of 23 percent.
  • In the next 12 months, fewer Pacific (Australia and New Zealand) investors (46%) expect to expand their property portfolio compared to the 68% who expected to expand in Q1 2010.
  • Among investors from the Middle East and Africa, 63% stated that they would be looking to actively reduce risk levels, with 25% indicating they would look to increase the diversification of their portfolio, implying an overall degree of risk management.
  • Across Central and Eastern Europe, the range of locations being targeted by investors was quite diverse, although Warsaw remains the most popular destination, notably for office product. Other popular targets quoted were Kiev, Prague, Moscow and Bucharest.

Among Latin American investors, 69 percent of those surveyed reported they will not reduce their risk levels.

  • 67 percent of the investors surveyed in Canada think that prime effective rents for the office market will either hit bottom by Q2 2011 or have already hit bottom. In the industrial market, 78 percent of investors think the bottom has either been reached or will be reached by Q2 2011 and that percentage jumps to 83 percent for retail.

Moving from 6 o’ clock on the global property clock in 1Q, the average time today according to Asian investors is slightly past 7 o’ clock.  In the coming 12 months, the Asian market is predicted to have moved towards between 8 and 9 o’ clock. And in both cases, the greatest number of respondents sees the market growing at an even faster rate.

 

“The survey shows that Asian investors are confident on the macro-fundamentals in the region,” said Piers Brunner, chief executive officer, Asia. “Personal and corporate debt levels are low.  Interest rates are low and liquidity is high. Optimism in the market is reinforced by 75% of respondents in Asia saying a double-dip recession is unlikely.”

However there are concerns among Asian investors, such as the uncertainties on government policies to cool the overheated markets, change in market liquidity and interest rate increases.

 

MORE ASIAN INVESTORS EXPECT TO EXPAND THEIR PORTFOLIO

Looking ahead to the next 12 months, the largest group of Asian investors (73%) expect to expand their property portfolio.  This figure was higher than the 65% registered in 1Q 2010.  The next largest group of respondents (18%) expect to rebalance the size of their portfolio over the coming year.

 

 

STRONG DESIRE TO BUY PROPERTY IN ASIA

The desire to buy property in Asia among Asian investors continues to rise.  91% of respondents expressed a desire to buy property in their domestic region, compared to 78% in 1Q 2010. The high percentage can be explained by the growth expectations in Asia, primarily driven by the Chinese market. 

 

While globally only 30% of respondents considered investments outside their domestic markets, 59% of respondents in Asia reported a desire to buy overseas properties. They would prefer Sydney office and Brisbane retail assets in Australia.  Others think office properties in New York and Chicago would offer good market entry points amid the prevailing low real estate prices.

 

 

NEW OPTIMISM POINTS TO AN UPSWING IN REAL ESTATE MARKETS ACROSS THE WORLD

Globally, the largest group of survey respondents put the Global Property Clock for their particular regions at eight o’clock, with the second and third largest groups at six and seven o’clock, respectively. These responses indicate that most markets globally are on the upswing and are characterized by rising demand, falling availability and vacancy and rising headline rents. This marks a significant move from Colliers International’s last Investor Sentiment Survey conducted in Q1 2010, when most respondents placed their markets at between five and six o’clock.

 

 

Some additional key global findings of Colliers International’s Q3 2010 Global Investor Sentiment Survey include:

  • 90% of respondents said they planned to expand their current level of real estate holdings within a year or maintain them at current levels.
  • New York, Chicago, San Francisco, Washington, London, Sydney, Singapore and Hong Kong were listed as key cross-border investment destinations. Emerging markets mentioned include Poland, Ukraine and Brazil.

Nearly 80 percent think debt will be easier to access in the next 12 months. Respondents who said they believe the cost of debt would rise in the next 12 months fell slightly from the first quarter of 2010, with 44 percent predicting an increase versus 52 percent six months ago.

 

KEY REGIONAL FINDINGS

  • In Western Europe, 62% of respondents now intend to make cross-border investments, a notable increase from the figure of 30% for Q1 2010.
  • In United States, a significantly greater proportion of investors (65%) indicated they are considering selling property over the next 12 months versus the Q1 2010 response of 23 percent.
  • In the next 12 months, fewer Pacific (Australia and New Zealand) investors (46%) expect to expand their property portfolio compared to the 68% who expected to expand in Q1 2010.
  • Among investors from the Middle East and Africa, 63% stated that they would be looking to actively reduce risk levels, with 25% indicating they would look to increase the diversification of their portfolio, implying an overall degree of risk management.
  • Across Central and Eastern Europe, the range of locations being targeted by investors was quite diverse, although Warsaw remains the most popular destination, notably for office product. Other popular targets quoted were Kiev, Prague, Moscow and Bucharest.
  •  Among Latin American investors, 69 percent of those surveyed reported they will not reduce their risk levels.
  • 67 percent of the investors surveyed in Canada think that prime effective rents for the office market will either hit bottom by Q2 2011 or have already hit bottom. In the industrial market, 78 percent of investors think the bottom has either been reached or will be reached by Q2 2011 and that percentage jumps to 83 percent for retail.

 The Colliers International Q3 2010 Global Investor Sentiment Survey was conducted from August 15 to September 7, 2010. Major institutional and private investors across the globe participated. The primary purpose of the survey is to better understand global investor attitudes in the current marketplace at a global and regional level, including investors’ outlook for the coming 12 months.

Colliers International Integrates Services under a Single Brand

June 14, 2010

Colliers International Integrates Services under a Single Brand
— World’s Third Largest Commercial Real Estate Services Firm
Aligns Global Operations to Provide Clients with Seamless Services —

10 May 2010, Bangkok — Colliers International marks a key milestone today in launching its new global brand—a critical step in the integration of its global operating platform and service lines. The rebranding, which includes a modernized logo and global media campaign, follows the announcement earlier this year that Colliers International and FirstService Real Estate Advisors (FirstService REA) are combining operations under the Colliers International brand. 

This marks the final step in Colliers’ transition from a decentralized affiliate model to a more centrally owned and operated business with an industry-unique operating and partnership model.  With approximately 70% under a single owner, FirstService REA, and the remaining equity retained at the local level, Colliers is able to provide clients with the highest level of accountability and service across their entire platform. The model allows Colliers International to attract and retain the industry’s leading talent, which directly benefits its clients through differentiated levels of client service.

“This is a landmark day in the history of Colliers International,” said Piers Brunner, Chief Executive Officer of Colliers International in Asia.  “We’ve integrated our services platform to create a true global commercial real estate powerhouse.  This integration, coupled with our investments in technology, platform services and professional development, provide our clients with seamless access to the highest level of service, in Asia and across the world.”

Included in the new branding are FirstService Real Estate Advisors, which provides corporate solutions and property and asset management services, FirstService Williams (the New York Tri-State hub for Colliers International), FirstService PGP Valuation and PKF Capital – Hotel Brokerage Services. All of these firms, as well as all offices in markets across the world, will now be known collectively as Colliers International.

“Colliers International is focused on accelerating success—for our clients, for our people and for our communities,” said Douglas Frye, global president and CEO of Colliers International.  “We’ve grown our platform and enhanced the depth and scope of our services into a top tier global commercial real estate services enterprise and now the world can expect seamless service delivery from one organization, one name and one brand.”

The rebranding is taking place in the U.S, followed by the United Kingdom in May and the Asia Pacific in the last quarter of 2010.

Colliers International Thailand appoints new director of hospitality department “Jean Marc Garret”

June 2, 2010

Director of Hospitality Department

Colliers International Thailand has recently announced the appointment of Mr. Jean Marc Garret, a French national, as Director of Hospitality Department, to direct the growing business of Hotels and Leisure.

In his new role, Jean Marc in addition of the fundamental hotel brokerage activity of the group in Thailand will be responsible for our Consultancy Services Division, providing.

Hotel Financial Assistance, Corporate Solutions, Project Development Support, Asset Management as well as assisting in the development of investment programs and all related opportunities.

A 30 year group hotel veteran, he brings with him a wealth of experience in the tourism and travel industry. A graduate of the University of Law and Economics of Nice in France, Mr. Garret first arrived in Thailand more than 22 years ago to participate in the opening of Le Meridien in Phuket. He has since become a resident of Thailand where he also served as Honorary Consul of the Principality of Monaco and President of the Franco Thai Chamber of Commerce.

Mr. Garret is particularly well known within the hospitality industry circles for his keen business acumen and foresight in the field of development as well as management of hotel properties. He has diverse records of success in the areas of consulting and operations with global hotel chains such as Accor, Le Meridien and Choice Hotels International in Thailand.

Prior to joining Colliers International Thailand, he was with the Centara Hotels & Resorts group, for the last 12 years with his last position being Senior Vice President Development.

Jean Marc Garret is also Chairman of the Tourism Committee of the Joint Foreign Chamber of Commerce.

Colliers International Thailand believes that with his track records of expertise in the local market, Jean Marc will be an added asset in our Team to accelerating success and contribute to help our clients to make the right choices for their Hospitality business.