Real estate services provider Colliers International bolstered its ability to win investment transactions this week by hiring veteran China deal broker Dominic Chung from rival CBRE.
Chung will be joining Colliers as Executive Director, Capital Markets & Investment Services, Asia as China’s real estate developers head overseas in search of assets and international capital continues to look for bargains on the mainland.
According to a statement from Colliers, in his new role Chung will be responsible for transactions across Asia, and for assisting major clients in collaboration with local investment teams. The senior executive will continue to be based in Hong Kong in his new role.
Commenting on the new addition to his team Terence Tang of Colliers said, “In view of the active traffic and the good long-term growth prospects in the region, we were searching for a capable person to strengthen our leadership position in the capital markets and investment services area.”
Tang, who is Managing Director, Capital Markets and Investment Services, Asia for Colliers added that, “Dominic has an impressive and diverse list of accomplishments in investment markets in Hong Kong, and Mainland China as well as substantial cross border transaction track record in Asia and North America.”
Prior to joining Colliers, Chung was Co-Head of Investment Properties, China and Head of Investment Properties, Hong Kong for CBRE from 2010 to 2014. Chung has more than 25 years of real estate experience, with more than 20 years focusing on investment transactions – 10 years of which were in the Mainland China market.
Colliers’ hiring of Chung was the latest in a series of high level defections from CBRE’s investment services division in Greater China over the last fourteen months.
Focusing solely on director level staff the agency lost Oscar Chan and Dominic Ho to JLL in November 2013, and then in July 2014 outbound investment ace Mark Suchy departed the US-based agency to head up investment services in Eastern China for Cushman and Wakefield.