Savills Residential, Huttons Asia to merge in further sector consolidation

Savills Residential is fully owned by Savills Singapore, which is part of the UK-listed company.

The post-merger business will trade as"Huttons - in association with Savills" and, as the largest shareholder, Savills Singapore will be represented on the board of Huttons Asia through Mr Marriott.Huttons is a home-grown property agency set up in 2002. Savills Singapore acquired a stake in the company in 2005.

Ms Ngiam noted that the"ability to draw on a globally recognised international residential brand will accelerate our growth as a leading agency in Singapore". Post-merger, Huttons will retain its fourth position in terms of the number of property agents. Assuming all the Savills Residential brokers come on board, Huttons will have a total of 3,626 agents.

Market observers say the merger between Savills Residential and Huttons may be seen as the latest in the series of consolidations among property agencies in recent years. That said, this deal is unique given that Savills Singapore is already Huttons' largest shareholder.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US job growth slows further in August; unemployment rate falls to 8.4%US job growth slowed further in August as financial assistance from the government ran out, threatening the economy's recovery from the Covid-19 recession. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

China vows to expand stock connect in further market opening[BEIJING] China will accelerate the opening up of its capital markets and deepen reforms to attract more foreign investors, China Securities Regulatory Commission vice-chairman Fang Xinghai said. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Judge's findings in Parti Liyani case involving CAG chairman warrant further investigations: AGCFOLLOWING the acquittal of former domestic worker Parti Liyani of stealing from Changi Airport Group chairman Liew Mun Leong and his family, the Attorney-General's Chambers (AGC) said on Sunday that it will assess what further action should be taken in light of Justice Chan Seng Onn's findings. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »