Knight Frank has strengthened its Asia Pacific presence by merging its operations in China and Hong Kong with one of Hong Kong’s leading consultancy firms to form Knight Frank Petty.
Knight Frank Petty incorporates the business formerly known as Chesterton Petty and Knight Frank’s Hong Kong and China operations.
The company will operate in Hong Kong, Beijing, Shanghai, Guangzhou and Vietnam.
The merged business will deliver a comprehensive range of property consultancy services and employ the higher number of Chartered Surveyors of any firm in Hong Kong.
It will employ over 450 staff in China.
Knight Frank’s chairman and senior partner Nick Thomlinson said the merger brings together two of the most successful and highly respected property consultancy organisations in the region.
“We have a well defined Asia Pacific strategy and this is only the start. This underpins our commitment to the Hong Kong and China markets, through which we can capitalise on their growth potential.
“Coupled with our global real estate partnership with Newmark Knight Frank, and our already well-established offices in Australia, Singapore and Thailand and the rest of the region, this merger bolsters our presence in Asia Pacific to over 2,500 people. We continue to strengthen our global service offering,” he added.
Knight Frank Australian chief executive David Woolford said the merger would give Australian clients access to greater scale and depth of service to the Chinese market.
“Our clients are taking an increasingly global investment focus, so the timing of this announcement and the strength in gives us in China complements their business plans well,” he added.
The combined management teams will include Alan Child, chairman of Knight Frank Petty, and Colin Fitzgerald, managing director Asia Pacific.
Knight Frank Petty has taken 27,000 sq ft on the fourth and part third floor at Shui On Centre, Hong Kong for its new head office.
Following a full refurbishment, the company will relocate in June 2006.
By Nelson Yap
