Savills buys firm to expand property management business

Singapore

SAVILLS on Wednesday announced the acquisition of Ace Body Corporate Management Pte Ltd, which will be merged into the Savills Property Management business to create the largest privately owned strata manager in Singapore, it said.

Ace Body Corporate Management is a Singapore company providing property management services to management corporations and property owners. It is a franchise of the namesake Australian firm.

Ace has 13 years of operational experience in the Singapore market, servicing 5,300 units across 29 properties. Some of these include condominiums Trellis Towers, The Shelford and Balmoral Residences.

The combined entity, which will trade under the Savills banner and manage over 40,000 units in 160 properties, will have a staff strength of over 500. All 58 staff from Ace will be moving over to Savills.

Savills Property Management Services manages some notable residential properties such as D'Leedon and The Orchard Residences, and assets such as orchardgateway@Emerald.

Chris Marriott, CEO at Savills South-east Asia, said: "With a solid recurrent income and talented leadership team, the merged entity will create a market leader in the Singapore property and facilities management field.

"Given the size of our portfolio, with well over 40,000 owners and occupiers, I am very keen that we are able to offer the full breadth of our consulting and agency services to this expanded customer base."

Chan Kok Hong, managing director of Savills Property Management, added: "With this injection of new talent, we are expanding our property management business across all sectors including commercial, retail and industrial."

Poh Teng Ban of Ace, recently appointed executive director of Savills Property Management, said he is "very excited" about merging Ace's business with Savills and giving his staff and colleagues an opportunity to work from a well-established international platform.