Leechiu, CBRE part ways

MANILA, Philippines — Leechiu Property Consultants (LPC) and CBRE have announced their mutual decision to dissolve their strategic alliance in the Philippines. The successful commercial real estate partnership between LPC and CBRE began in late 2016 and ends amicably as both providers look to deepen their respective commitments to the evolving Philippine market.

According to LPC and CBRE, the Philippines commercial real estate sector will continue to offer exceptional fundamentals to service providers and will benefit from a more diverse range of local and international firms operating in the market. With rentals in both the office and residential markets continuing its upward projection in 2019, LPC foresees that the industry will continue to mark all-time highs across all sectors, allowing for enhanced opportunities for more independent players in the Philippines.

LPC executive director David Leechiu observed: “We are seeing the highest land values in markets such as BGC where land now costs P1.3 million per sqm. and condo prices are at P540,000/sqm. The projected trajectory in the Philippines commercial real estate space combined with the evolving demands of clients will usher in more opportunities for key industry players including LPC and CBRE to propel their respective growth paths.”

Under the mutual dissolution of the strategic alliance, LPC will no longer provide leasing, capital markets and consulting services for CBRE. “We wish CBRE every success and thank them for our fruitful years of cooperation,“ Leechiu said.

Additionally, Leechiu announced that LPC is currently marketing 46 projects covering a total of 1,105,361 sqm in BGC, Makati, Quezon City, Ortigas, Bay Area, Alabang and Cebu. Within its occupier solutions business, LPC has also closed deals covering 1,115,000 sqm of which 599,000 sqm are live deals. In the investment sales space, LPC is looking to transact P12 billion in the next 12 months.