Real estate brokerage firm Leechiu Property Consultants (LPC) is aiming to accelerate the growth of the Philippines’ property sector with its partnership with the CBRE Group, the firm’s head said in a statement on Monday.
LPC Chief Executive Officer David Leechiu said its recently forged partnership with the Philippine unit of global property consultancy firm CBRE Group. Inc. will strengthen the services the companies provide.
“It has always been our goal to continuously transform and accelerate the Philippine real estate industry by prioritizing the needs of our local and international stakeholders,” Leechiu said.”Through this alliance with the CBRE Group, Inc., we are confident that we will be able to provide the top services to our partners.”
Last October, the CBRE Group announced that it is partnering with LPC, which will act as its leasing, capital markets and consulting services arm.
This followed the announcement of former CBRE Philippine franchise owner Rick Santos that he will not renew his franchise agreement with CBRE after 23 years of operating in the Philippines.
Santos revealed that his team has signed a new partnership with the London-based real estate services firm Knight Frank.
The newly forged partnerships among the property services firms took effect last January 1.
LPC noted that its partnership with CBRE would be mutually beneficial for both parties.
“CBRE will draw on LPC’s broad domestic footprint to reach new clients across the local commercial real estate space. LPC will gain access to CBRE’s international expertise and network — Asia Pacific, Americas, and the Europe, Middle East and Africa regions – providing a new level of best practices and international standards to clients in the Philippines,” LPC said.
The alliance between the two property services firm is envisioned to provide seamless advisory services across leasing and investment transactions in the Philippines.
“Starting in January 2017, LPC and CBRE have begun collaborating on numerous market surveys to identify new client opportunities and facilitate the ongoing growth and expansion of the Philippine real estate industry,” LPC said.
In addition, the LPC-CBRE partnership is expected to attract more investments geared towards the financial services, information technology and business process management (IT-BPM), manufacturing, and hospitality and leisure industries.
As of October 2016, LPC said its investment sales team had already transacted P3.5 billion worth of property acquisitions and transactions in the first five months of its operations since May. This includes 82,000 square meters of office spaces.
The company said it expects to facilitate P17.6 billion worth IT-BPM transactions in the next 6 to 12 months.