International Real Estate advisor Savills has announced it has opened in three locations in Pakistan effective January 1, 2022. The real estate advisory firm, which formerly operated as Colliers International franchise in Pakistan, will join Savills with its 42-strong team.
The existing business, established in 2007, will give Savills extensive national coverage, operating out of three offices in Karachi, Lahore, and Islamabad.
It will form part of and further strengthen Savills’ market leading Middle East operation and connect both East and West with our regional businesses as we continue to grow our global network.
Savills Pakistan will offer services including sales, leasing and investment advisory, valuation, research and development as well as project management. The team’s existing client base includes the largest commercial bank in Pakistan, Habib Bank Ltd, Bank Alfalah and Standard Chartered Bank; one of China’s largest state-owned enterprises China Road & Bridge; telecommunications company Etisalat; one of the largest local listed developers TPL Properties and International companies including Royal Dutch Shell, Novartis, Maersk, GlaxoSmithKline and Pepsico International.
Mark Ridley, CEO of Savills, says: “Pakistan is the fifth largest country by population, of which over a third reside in urban areas. With the government promoting the construction and housing industry we see huge opportunity in this market and are really excited to be working with our new colleagues.”
Steven Morgan, CEO of Savills Middle East, adds: “Forming a business in Pakistan is a key strategic move as we further grow in this geographical area. We are already advising clients across the Middle East, Africa and Asia on extensive growth projects and we are looking forward to sharing this expertise with our team in Pakistan.”
Hammad Rana, Director of Savills Pakistan adds: “Savills global platform represents an established and market leading advisory service. Our clients are set to benefit from the experience of the wider business as we collaborate closely to achieve the best results.”
Savills Middle East business now spans the UAE, Saudi Arabia, Egypt, Bahrain, Oman, and Pakistan.