Property consultancy DTZ Debenham Tie Leung (SEA) has been relaunched as Edmund Tie & Company, following Cushman & Wakefield’s sale of its majority position to Edmund Tie & Company Holdings.
Under the new organisational construction, while Ong Choon Fah will remain as Chief Executive, real estate veteran Edmund Tie will continue to head the firm as Chairman.
According to Tie, the origins of the business go back to 1995 when it was one of the first local property consultancies. Soon after, it enlarged abroad, joining forces with DTZ Debenham Thorpe in Europe and C Y Leung & Company in North Asia.
“The strategic decision to once again run under the Edmund Tie & Company brand is motivated by our longstanding commitment to form a firm driven by a distinctly Asian business philosophy , yet offering international standards of expertise,” said Tie.
But the business stays confident about the area’s future.
“The creation of the ASEAN Economic Community, of which Singapore is a member country, is anticipated to foster the competitiveness and connectivity of the region, leading to greater efficiencies and output,” said Ong.
As more foreign trade deals are being put in place, combined with an increasingly prosperous population and growing middle class, Southeast Asia will become increasingly appealing to investors. As the region’s gateway city, Singapore is going to have a key part to play,” she added.
Company & Edmund Tie has about 500 staff across the area, with operations in Thailand and Malaysia.
It is now in discussions with several important international property companies to expand its worldwide reach.