Savills and Huttons Strengthen Their Positions Combining Residential Forces
7 September 2020 – Savills Residential Pte Ltd are pleased to announce the merging of
their residential project sales business with Huttons Asia Pte Ltd. Terms have been agreed and the deal will complete this month.
Huttons will strengthen their current 3,044 broker capability locally, with all 582 Savills
commission-only residential brokers being invited to join, further enhancing their position as the leading project sales business in Singapore.
In a joint statement, Huttons and Savills believe the business will be very well positioned
with excellent local talent and an exceptional global reach. The enhanced board will focus on strengthening services to their clients and customers through a newly expanded agency force and access to international markets, in particular China. In doing so, they will leverage on their PropTech and digital marketing knowledge, thereby broadening the opportunities for their brokers.
Peggy Ngiam, Executive Director & KEO, Huttons, said: “We are very excited about
this integration and look forward to welcoming industry leaders, along with new and experienced brokers into our expanded family. The ability to draw on a globally recognised international residential brand will accelerate our growth as a leading agency in Singapore.”
The post-merger business will trade as “Huttons - in association with Savills” and, as the
largest shareholder, Savills Singapore Pte Ltd will be represented on the board through Chris Marriott, Chief Executive Officer, Savills South East Asia. Chris commented: “The merger means that Savills Singapore Pte Ltd will focus on its full service real estate business in Singapore, overseen by Marcus Loo.”
Commenting on the integration, Marcus Loo, Chief Executive Officer of Savills
Singapore, said: “This integration with Huttons, a dominant local player, presents a fantastic opportunity for Savills’ residential associate brokers to access a larger marketplace, enabling them to participate in the large number of projects that Huttons are currently handling.”
Chris Marriott, Chief Executive Officer, Savills South East Asia, further
commented: “We have had a long-standing interest in Huttons, since 2005, and welcome the opportunity to take a more active position on the board and complement Huttons in their future growth in this important market.”
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