Savills has named Datuk Paul Khong as head of its Malaysia business following the departure of executive chairman Chris Boyd and deputy executive chairman Allan Soo.
Khong will be taking the reins at the company that until four years ago flew under CBRE’s banner, while Boyd and Soo, who are both retiring, will continue as consultants.
Boyd, who like Khong has received the Malaysian order of honour “datuk”, is retiring after 24 years of helming the consultancy he founded in 1995, which was acquired by Savills in 2015 .
“Datuk Paul Khong has been a long-standing member of the Malaysian management team and I am delighted to announce his appointment as Head of Country,” said Chris Marriott, chief executive of Savills Southeast Asia.
Khong will be taking charge of the firm’s three offices across the Malaysian cities of Kuala Lumpur, Johor Bahru and Penang, which are staffed by 200 real estate professionals.
“Malaysia is clearly experiencing positive signs of growth in all aspects of the real estate industry and I am excited to be working alongside Paul, to build on the strong platform we inherit from two of the industry’s leading real estate advisors, Datuk Chris and Allan both with exemplary careers and outstanding reputations,” Marriott said.
Khong to Strengthen Savills’ Position in Malaysia
Boyd is retiring after originally setting up the consultancy with Soo as Regroup Associates Sdn Bhd, which then became an affiliate of CBRE in 2009.
Khong joined the consultancy after a period as a partner and shareholder at property valuers Khong and Jaafar Group.
A chartered surveyor, he served as the secretary general of the country’s Royal Institution of Surveyors’ property consultancy and valuation surveying division from 2003 to 2004, and has served on the institution’s board.
“I very much look forward to heading Savills with its leading market position here in Malaysia,” Khong said.
The new head of Savills’ Malaysia office highlighted the renewal of the firm’s account with energy company Shell as well as its appointment as property investment advisors and asset manager to Malaysian state pension fund EPF as indicators of its strength in the market.
“With these, and the many other appointments we have, combined with our strong leadership team and coming young leaders, our goal is to be the real estate adviser of choice in our market,” he added.