This alliance will also facilitate a close working relationship with Pam Golding Properties, who have been the residential real estate associate of Savills in Africa since 1996.
The alliance between 5th Avenue Properties and Savills is set to create a market precedent which was not previously seen within the South African and African real estate service provider landscape. "By putting Savills and 5th Avenue together, we've created a broad and powerful platform to be able to offer commercial real estate services within Africa," says Anthony Green, Director at 5th Avenue Properties. "Our relationship with Pam Golding Properties will no doubt deliver mutually-beneficial opportunities both within South Africa as well as across their network elsewhere in Africa."
The property industry in South Africa has changed dramatically over the last decade, thus creating opportunities for innovation such as this most recent endeavour. Alliances such as this not only benefit our local economy and foreign investment into Africa, but outbound commercial property investors are able to take advantage of Savills' extensive infrastructure within the global real estate landscape as well. "We are able to combine our experience and expertise - The Bank of China, Wrigley's, Vodacom, Sumitomo Bank, AMB Capital, Nestle, DB Thermal, PPC, MTN and Avon Justine being just a few of 5th Avenue's client base – with over 500 of Savills' offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East," continues Green.
Mark Ridley, CEO of Savills UK, comments: "Over the past 12-18 months, we have seen a significant increase in interest from our Corporate Real Estate clients for a presence in the emerging markets in Africa. In particular the oil and gas industry, pharmaceuticals and financial sectors all have expansion plans in this area. 5th Avenue Properties will offer our commercial clients a premier property advisory service in South and Southern Africa, providing the right service lines and geographical reach."
"Our existing and future clients are able to access the highest standards of global best practice and extensive local market knowledge, as well as draw on the significant combined experience of our teams. We are able to offer an ideal infrastructure, which will allow for the delivery of real estate solutions in a professional and consistent manner - regardless of geography," says Green.
Indeed, the partnership between Savills UK and 5th Avenue Properties in South Africa will take both companies' capabilities to exciting new levels in the African real estate markets. This agreement will effectively open doors for corporate real estate investment and services into South Africa as a launch-pad into Africa, as well as define new channels for outbound South African and African commercial property investment into the rest of the globe.
