CB Richard Ellis has appointed Dominic Ong as a director of its Private Client Group to capitalise on Asian investors seeking property opportunities in Australia.
Ong was previously CBRE’s NZ PCG national director based in Auckland. In his new role, Ong has relocated to the Sydney office to provide property solutions and services to high net worth Asian investors, both locally and offshore.
The total wealth of Asia Pacific’s rich is set to grow at a compound annual rate of 12.8% between 2006 and 2013, the highest globally.
Moving forward, China and India will be major drivers of growth with the wealth of high net worth individuals in these markets set to grow by over $US4 trillion by 2018, according to an industry report by Capgemini and Merrill Lynch.
CBRE senior managing director Scott Gray-Spencer said Dominic has a strong understanding of these markets as well as the competitive advantage of being fluent in multiple languages, including English, Mandarin, Catonese and Bahasa Malay.
“Asian investors are increasingly looking to diversify their portfolios and they see Australia as a safe haven and a long term investment destination.
“We expect to see a new wave of investment from Asia, particularly from China, which is still a largely untapped market,” Ong said
Australian Property Journal
