News on 27 September 2000
Savills plc and Trammell Crow Company, including the associated
outsourcing joint venture Trammell Crow Savills (TCS), have extended their
coverage to the Asia Pacific Region. Based in Hong Kong, TCS (Asia Pacific),
will provide project, facility and transaction management services to
clients throughout the region.
TCS (Asia Pacific) is 51% owned by Trammell Crow Company and 49% by Savills
plc. It has also acquired FPDSavills’ subsidiary Construction Management
International (CMI) as part of the joint venture’s extension. As
a result the whole business is valued at £5.6m (HK$64m) subject
to achieving specific profit targets over the next two years.
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Bill
Concannon
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Group chief executive Aubrey Adams said he is confident
TCS will rapidly establish itself as the leading corporate real estate
outsourcing company in both Europe and Asia Pacific. Trammell Crow Corporate
Services’ CEO, Bill Concannon, agreed, saying the company had always
intended that the relationship with FPDSavills would have this geographic
breadth.
FPDSavills (Hong Kong) Ltd’s chairman David Wong commented: "Our
alliance with Trammell Crow Company gives our Asia Pacific clients access
to the world’s largest real estate market and enables us to service
their increasingly global requirements. The formation of TCS (Asia Pacific)
is a natural extension of the joint venture established in Europe in June."
