Santos parts ways with CBRE
Rick Santos, founder, chairman and CEO of local real estate services leader CBRE Philippines, has announced that he is not renewing his franchise agreement with the global CBRE group.
“Following a successful 23-year partnership, we have made the tough decision to end our affiliation with CBRE Inc. at the end of this year,” Santos said in a statement.
In 1994, Santos was tasked to establish CB Richard Ellis in the country, and subsequently completed a buyout and assumed full ownership of the local office in 2002, creating the CBRE Philippines brand and organization.
During that time, the organization has developed into a premier full-service real estate organization operating in the Philippines through 11 standalone, market-leading business lines to deliver quality services to its clients on a best-in-class basis, according to Santos.
“It has been of the utmost importance that we preserve our roots as a Philippine-controlled organization and leave ourselves best positioned in the market to provide the comprehensive range of professional real estate services that our global, regional and local clientele require,” Santos said in confirming his commitment to the sector.
Santos is eyeing even further expansion of his business and strengthened operations of his company’s 1,200-strong workforce. “From Jan. 1, 2017, we will be in a new partnership with a multi-billion dollar global real estate services brand. We shall announce the details of that partnership in the coming weeks,” he revealed.
“The Philippines is a pivotal component of the vibrant Southeast Asian economy and it is key to us that our international partner is strategically aligned with the wider Asian region,” said Santos.
In particular, Santos sees continued opportunities from ASEAN, India and China. “Our new brand will bring increased opportunities in respect of those markets. The success story that is the Philippine BPO industry shows no sign of slowing down and, as both the pioneer and market leader in this sector, we will remain best positioned to service the ongoing needs of clients from established markets such as North America, Europe and Australia,” he added.
“We are excited to continue to grow our business and the entire existing management team is committed to stay and continue providing the quality of independent, professional service which our clients have become accustomed to,” he concluded.