Cushman & Wakefield announces that it has merged with its Indonesian affiliate, PT Property Advisory Indonesia (PROVIS), a leading Jakarta based real estate services group. With immediate effect the firm will begin operations as Cushman & Wakefield.
Consistent with the growth strategy for the region, Cushman & Wakefield have seized another opportunity to expand the firm's platform in Asia Pacific. This follows the opening of the company's Vietnam operations in January this year, with offices in both Ho Chi Minh City and Hanoi, as well as the acquisition of its long-time Australian associate, Laing+Simmons Commercial Inc., in Sydney.
"Cushman & Wakefield is well positioned to weather the current economic maelstrom," said Michael Thompson, CEO of Cushman & Wakefield's Asia Pacific operations. "Whilst many companies in our industry are scaling back, we are doing the opposite. As a private company with limited debt, we are able to move forward with our aggressive growth plans. It is strategic acquisitions of firms like PROVIS that have helped us to expand our reputation for excellence both locally and globally." Michael Thompson continued: "We now have 33 offices in 15 countries across Asia Pacific and there will be more in the near future. We have the capability to expand into Taiwan, the Philippines and beyond - there are no limits in our capacity to serve our clients."
"This represents a significant step for both firms and our clients," commented Arshpreet Chaudhry, Executive Managing Director of Cushman & Wakefield in South-East Asia. "Both Cushman & Wakefield and the PROVIS team have strong cultures, which will make the transition easier because we share the same traditions of integrity and excellence and a 'client-first' philosophy