The business has been operating in Vietnam for over 11 years, with offices in Ho Chi Min City and Hanoi, and employs over two hundred and forty staff. Savills will offer a full range of commercial and residential real estate services to both local and multinational businesses.

Rob McKellar, CEO Savills Asia Pacific commented: "I am delighted that we have been able to make this investment into what is widely regarded as one of the most exciting emerging real estate markets in Asia today. Our investment into Vietnam represents another important step in our strategic goal of having a significant presence in all the key markets in Asia Pacific. Vietnam is currently experiencing rapid economic growth with Foreign Direct Investment expected to exceed US$13 Billion in 2007. The economic success of Vietnam’s development has placed huge demands on the need for real estate development and related advisory services in the office, retail, industrial and residential sectors. The increasing demand from our clients, especially from Korea, Japan, Taiwan and Singapore, for real estate advice in Vietnam has been unprecedented, and I am extremely pleased that we now have the opportunity to service their requirements. The Chesterton Petty business is widely regarded as the pre-eminent real estate service provider in Vietnam today, and the existing senior management team, led by Alastair Orr Ewing and Brett Ashton, bring a wealth of professional experience of working in Vietnam. We are delighted that their entire staff has decided to join forces with Savills”.

Alastair Orr Ewing, Chairman of Chesterton Petty Vietnam: “Chesterton Petty Vietnam has been the leading provider of property related services in Vietnam since 1995, and has developed an excellent reputation. Although Chesterton is certainly the best known real estate consulting brand in Vietnam the management felt that it was time to seek a more powerful international company and support network. There are to be no changes to the team in Vietnam, and our new brand will help us in continuing our aggressive expansion in Vietnam, while further improving the quality of work that we undertake. We have selected Savills as our new partner because of their impressive strength and ambitious expansion plans in Asia and the synergies between our two operations.“

Savills is a UK public listed company that was established in 1855 and offers and full range of commercial, residential and mixed use real estate advisory services. It has a market capitalisation of over US$ 2 billion and has operations in 29 different countries, in over 160 offices with over 15,800 staff. The financial results of Savills for 2006 reported revenues of over US$ 1 billion with pre-tax profits in excess of US$ 170 million.

Savills’ regional operations in Asia Pacific include China, Hong Kong & Macau, Taiwan, Philippines, Australia, Japan, Korea, Singapore and Thailand. Savills provides a comprehensive range of quality real estate services in Asia Pacific throughout its network of 30 offices, employing over 11,000 staff and generating over US$ 250 million of revenue in 2006.