Kuala Lumpur, December 2, 2009 -- CB Richard Ellis Group, Inc. today announced that it has signed an affiliate agreement with Regroup Associates Sdn Bhd – a leading real estate services company in Malaysia.
The affiliation reflects the strategy of CB Richard Ellis to provide market-leading, full-service offerings in major markets across Asia.
Regroup Associates Sdn Bhd has been in operation for fifteen years and offers a full range of services relating to commercial and residential property, including valuation, investment sales and acquisitions, commercial leasing, auctions, development consultancy and marketing, research and property management. Regroup Associates Sdn Bhd will adopt the CBRE branding going forward.
Regroup Associates Sdn Bhd was established by Allan Soo, Managing Director, in March 1995, and currently operates with offices in Kuala Lumpur, Johor Bahru and Penang with 160 professional and administrative personnel.
This expansion into Malaysia by CB Richard Ellis comes at a time of improved economic growth, further relaxation of rules relating to foreign ownership of Malaysian property.
Chris Brooke, the President & CEO of CB Richard Ellis in Asia, said: "We believe that prospects for the real estate sector in Malaysia are very strong. Regroup is an established and trusted brand that is well positioned to capitalize upon the opportunities presented by the real estate market in Malaysia, which is becoming increasingly international. Strategic affiliations such as that which we are pursuing with Regroup are a key component of our strategy to maintain a leading position in major business centres both within Asia and internationally."
Christopher Boyd, Executive Chairman of Regroup, said "Our goal is to offer our clients real estate services of the highest international standard through a combination of superior market intelligence, technology and integrated service offerings. CB Richard Ellis, being the world leader in commercial real estate services, offers Regroup the perfect opportunity to leverage its wealth of resources and the industry's most extensive global platform. We look forward to expanding the range of services we can offer to our clients in Malaysia as well as both regionally and globally."
Paul Khong, Executive Director, Regroup said "Regroup has worked closely with CB Richard Ellis in relation to a number of joint marketing assignments since 2005. We are very enthusiastic about this move as it creates a strong and rapidly growing global services provider in Malaysia. Through this move, we will be able to serve clients more effectively due to our combined service offerings and global reach."
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2008 revenue). The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 "best in class" company for three years in a row. Please visit our Web site at www.cbre.com.