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Tuesday, December 11, 2007

Rahim & Co ties up with long-term partner

KUALA LUMPUR: Local property consulting firm Rahim & Co Chartered Surveyors Sdn Bhd is strengthening its position in the industry by forming a strategic alliance with London Stock Exchangelisted Savills. Rahim & Co and Savills have a working relationship going back 20 years.

Its executive chairman Datuk Abdul Rahim Rahman (pix) said, the group is proud to be associated with a prestigious name such as Savills. “We hope this partnership will strengthen our position in the global market even more by putting Rahim & Co on the world map as an international real estate player,” he told reporters after the signing ceremony between the two
companies last week.

The strategic alliance, known as Savills Rahim & Co, takes effect this month, once it receives approval from the Board of Valuers, Appraisers and Estate Agents Malaysia.

Previously, the companies worked together via teleconferencing and regular meetings, keeping both in touch with the global market and enabling them to draw on a broader range of experience and expertise.

Last year, Rahim & Co sold RM160 million worth of properties in one transaction through the help of Savills.

“This strategic alliance will no doubt open up new business horizons for both parties,” Abdul Rahim added.

“Among some of the developments (in Malaysia) that we intend to promote to foreign investors and funds include those located in the KLCC area, Langkawi and the Iskandar Development Region (IDR),” he said.

Savills Asia Pacific Ltd chief executive officer Robert McKeller said Malaysia is an emerging property market with huge potential due to its ease of conducting business.

“Several countries, such as China, have real estate markets that are difficult to invest in due to the various restrictions and tax issues,” he said.

With property becoming a global asset like stocks and bonds, McKeller feels it is important to have representation in various parts of the world to meet the needs of customers.

“Having a representative in the Asia Pacific market gives Savills a huge advantage over other
companies that do not but have customers interested in properties from that part of the world,” he said.

Rahim & Co was founded in 1976 and currently has a network of 16 offices nationwide and two offices in China and Hong Kong.

Savills is a leading international property services group established in 1855, which covers markets throughout Europe, Asia Pacific, Australia and Africa.

It has over 180 offices and associates worldwide, and recorded a turnover of £280 million (RM1.91 billion) for the six months up to June 30, 2007.

By theSun (by Yap Yew Jin)

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