Knight Frank LLP, a leading independent global property consultancy, has announced a merger of its operations in China and Hong Kong with one of Hong Kong’s leading valuation and professional consultancy firms to form Knight Frank Petty.
Knight Frank Petty incorporates the business formerly known as Chesterton Petty Ltd and Knight Frank’s Hong Kong and China operations. The company will operate in Hong Kong, Beijing, Shanghai, and Guangzhou.
The merged business will deliver a comprehensive range of property consultancy services and employ the greatest number of Chartered Surveyors of any firm in Hong Kong. It will employ over 450 staff in China.
Nick Thomlinson, senior partner and chairman, Knight Frank LLP said: “This 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.”
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.
Knight Frank is a leading independent global property consultancy. Headquartered in London, Knight Frank and its New York-based partner Newmark Knight Frank operate from over 140 offices in established and emerging property markets on five continents. Last year, the companies handled transactions valued at over $41 billion with annual revenues of over $545 million. With a combined staff of 4,500, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide.
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