Colliers makes its way into Thailand

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Colliers makes its way into Thailand

Another international player has arrived on Thailand’s real estate scene. Global real estate services firm Colliers International announced it has recently acquired a well-established Thai firm, Pasupat Realty, and its wholly-owned subsidiary, Pasupat Appraisal.

“This was both exciting and challenging given the pre-eminence of the Colliers brand name internationally,” said Patima Jeerapaet, Colliers International Thailand’s managing director. “Nevertheless we are very positive about our ability to live up to the Colliers global reputation and bring a new dimension of service to clients to the Thai marketplace.”

The firm began its operations in Thailand in March, with a registered capital of Bt20 million. Colliers offers a complete range of proactive integrated property services from focusing on valuation and advisory, through project consultation and development and construction management to property marketing and management.

The firm also considers itself a one-stop firm, offering services such as asset management, commercial sales and leasing, hotels and leisure, industrial sales and leasing, international residential properties, investment sales, research and consultancy, residential sales and leasing.

“The firm will expand its services steadily but sensibly,” said Patima. “We are not seeking to hire everyone and anyone, we will select staff on the basis of their ability and experience in delivering substantial advice and service to clients.

“We will certainly have full access to the global support of the Colliers network. To date we have been able to implement considerable training with our staff who have made the transition to the Colliers office in Bangkok.”

Colliers International Thailand’s chairman, MR Chatu Mongol Sonakul, says the opportunities in the Thai marketplace are significant, and Colliers will not approach the client simply as a sales revenue prospect but as a genuine opportunity to establish a substantive relationship.

“That will be our market advantage – substance in quality, individual service. We have thus far assembled a remarkably high profile, recognizably successful board of directors and that will be the approach as we expand our professional team and our range of services.”

It was only a matter of time before Colliers became the latest big name to arrive on the scene, with many saying it wasn’t a matter of “if,” but “when,” given the firm has offices in many other major Asian markets such as Vietnam and Singapore. Colliers International is unique in that it’s a global affiliated of independently owned commercial real estate firms with over 9,000 employees in over 240 offices in more than 50 countries.