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Wednesday, 6 June 2018

UK’s Savills acquires Cluttons, Egypt on the map for regional expansion plans

UK’s Savills acquires Cluttons, Egypt on the map for regional expansion plans: UK real estate advisory firm Savills announced yesterday that it acquired Middle East-based consultants Cluttons late last month, Gulf Business reports. Savills intends to retain all Cluttons staff members as it rebrands the company later this year as Savills Middle East, its first wholly-owned subsidiary in the region. Cluttons CEO Steve Morgan discussed the move in an interview with Bloomberg yesterday (watch, runtime: 3:39).

Egypt will definitely be a point of focus for the firm, says Morgan, who notes that the country is “back on the map for many of the corporate occupiers.” He adds that while markets in the region are still maturing, which can be challenging, choosing the right partners and right projects is key to success, especially as governments implement necessary reforms to attract investors.

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