Broll’s place in the sun courtesy of its linkup with CB Richard Ellis

Posted On Wednesday, 30 November 2005 02:00 Published by
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Broll Property Group, which represents CB Richard Ellis (CBRE) in sub-Saharan Africa, is set to further benefit from CBRE’s new ranking as the number one global real estate provider.

Nick Wilson

SOUTH African property services heavyweight Broll Property Group, which represents global property services provider CB Richard Ellis (CBRE) in sub-Saharan Africa, is set to further benefit from CBRE’s new ranking as the number one global real estate provider.

Broll, because of its association with CBRE, is poised to reap the benefits of west Africa becoming a large supplier of oil and gas to the world.

CBRE, which has more than 17000 employees operating in 300 offices in 50 countries, has taken the number one spot in real estate portal Research Worldwide.com’s Ranking the Top 10 Global Real Estate Service Providers.

Alan Wallace, a director at Broll Property Group, says Broll represents CBRE clients in southern Africa including banking group HSBC and General Motors. "Those are mandates we would never have been appointed for if we weren’t associated with CBRE," says Wallace.

He says Broll, which concluded the deal to represent CBRE in sub-Saharan Africa last year, takes care of all these clients’s property needs from property consulting, relocation studies, sourcing new premises, valuations and financing options for new real estate facilities.

Wallace says Broll has also opened offices in Nigeria and Ghana because it is forecast that west Africa will become one of the major gas and oil suppliers within the next 15 to 20 years. "There is a huge amount of real estate services required because of the vast investments in oil and gas production within west Africa," he says.

Wallace says there are also "downstream" opportunities for Broll such as the building of new office blocks and secure compounds for expatriates from England and SA who will work in new developments in west Africa.

He says Broll is also going to be facilitating "quite a few" new retail developments to take advantage of both local population growth plus expatriate buying power.

Wallace says the association with CBRE gives Broll access to the "world’s best practice" in real estate and facilitates the transfer and knowledge of skills from that particular base.

He says with CBRE’s 17000 employees worldwide, there is major scope for deal flow for Broll.

"Currently Broll is investigating leads emanating from the Houston, Portuguese and London offices which have real estate requirements in both west and southern Africa," says Wallace.


Publisher: Business Day
Source: Business Day

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