(VEN) – The CBRE Group (NYSE: CBG) announced on October 8 that it had acquired the CBRE Vietnam Co., Ltd. to increase its presence and provide integrated services in the growing market in Southeast Asia.
Established in January 2003 CBRE Vietnam now has more than 160 staff members from three offices in Ho Chi Minh City, Hanoi and Da Nang.
In its 10 years, CBRE Vietnam has been a leading real estate service provider.
CBRE General Director Marc Townsend and CBRE Chief Executive Officer Richard Leech will continue managing the group’s subsidiary in Vietnam.
CBRE Asia-Pacific President and CEO Rob Blain said that although the Vietnamese market was facing many challenges CBRE believed that Vietnam would take much potential in the long term as a low-business-cost country and a growing market-led economy.
CBRE Vietnam will become an important member of the CBRE Group’s service system for newly-emerging economies across Southeast Asia. Its operations in Vietnam will help strengthen the group’s leading position in Singapore, China and other countries in the region./.