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Friday, July 9, 2010

VPC sets eyes on UK and Mideast markets

KUALA LUMPUR: VPC Asia Pacific Ltd, a regional grouping of international property consultants, is looking to expand its property valuation practices to Britain and the Middle East via its partnership with Britain-based Cluttons LLP, a leading chartered surveying firm, according to regional chairman James Wong.

James Wong (extreme left) shakes hands and exchanges documents with Bill Siegle at the signing ceremony. Looking on are Tan Sri Bernard Dompok (second from left) and Trevor Mills.

“Many Malaysian property developers, leisure and hospitality operators and manufacturers were exploring opportunities beyond borders, especially within the Middle East and Europe – regions that Cluttons has a presence in,” he said at a signing ceremony between both parties yesterday.

Witnessing the event were Plantation Industries and Commodities Minister Tan Sri Bernard Dompok and British High Commission and trade and investment director Trevor Mills.

“Our collaboration with Cluttons will facilitate exchange of knowledge and specialised skills and help us to introduce the Asia-Pacific as a property destination to British and Middle East investors,” Wong added.

Wong, who is also the managing director of VPC Alliance (M) Sdn Bhd, said the tie-up would see both parties leveraging on each other’s network of offices and experience in the respective regions.

VPC Asia Pacific currently has 40 offices throughout the Asia-Pacific.

“The Asian property market, with the exception of Japan and Hong Kong, is less mature and needs to catch up with the European markets.

“Hence, there are a lot of prospects for property investments and developments in the Asia-Pacific region to offer to Cluttons clients to invest in the region,” said Wong.

Cluttons senior partner Bill Siegle said a key strategy for Cluttons was to get more than 50% of its business from international sources.

“Asia, particularly China and India, is the growth engine of the world and is expected to have the highest economic growth rates,” he said, adding that in May, the Dow Jones classified some Asian countries, such as China, Indonesia, India, Malaysia and Thailand, as emerging markets.

By The Star

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