Bangkok Condominium Market Q4-2009
Q4 2009 witnessed a rapid increase in condominium units launched over previous quarters with approximately 13,700 units in total, over 9,000 of these in the suburban area. This represents a 5.8% increase in total supply q/q and a 10.7% increase y/y.

Colliers International and FirstService Real Estate Advisors
Combine to Create World’s 3rd Largest
Commercial Real Estate Services Firm

25 January 2010, (Bangkok) – Colliers International and FirstService Real Estate Advisors (“FirstService REA”) announced that they will combine their operations and global real estate services platforms. The combined entity will operate as Colliers International in 61 countries around the world. FirstService REA is an autonomous subsidiary of publically traded FirstService Corporation (NASDAQ: FSRV;TSX: FSV).

With this announced combination, Colliers International is now ranked as the world’s  3rd largest real estate services firm. Transiting from a network of affiliates to a more centrally owned and operated firm, the company will provide greater consistency in its operations.  deliver highly specialised world class real estate services in markets around the world.

“Colliers International has many distinct competitive advantages when compared to other global service providers,” said Douglas P. Frye, Chairman and CEO of Colliers International. “Our successful partnership model enables key executives to retain significant equity in the businesses they operate day-to-day creating more alignment and accountability; ensuring clients receive the highest level of service and consistent delivery over the long-term.”

FirstService REA embarked on one of the most aggressive global expansion in the history of commercial real estate, largely executed during a time when competitors were scaling back due to the global economic recession.  Apart from its expansion in the United States, most recently, the firm has acquired significant equity interests in Colliers International operations in the United Kingdom, Ireland, Spain, Russia and several other countries in Western and Eastern Europe and Asia Pacific.

The fully integrated Colliers International business employs more than 15,000 people in 480 offices in 61 countries, and generates in excess of $1.9 billion in revenues annually.

About FirstService Real Estate Advisors
FirstService Real Estate Advisors (“FirstService REA”), a subsidiary of publically traded FirstService Corporation, is the emerging leader in the global professional services industry. As the fastest growing and third largest commercial real estate services firm in the world, FirstService REA has strategically integrated industry leading service providers in key areas of specialization to deliver consistent and measureable results for occupiers, developers and investors in real estate. FirstService REA operates in 41 countries around the world. In North , FirstService REA provides services through the leading real estate brands; FirstService REA, Colliers International, FirstService Williams, FirstService PGP Property

Valuation, PKF Hotel and Hospitality Consulting and MHPM Project Leaders.

About FirstService Corporation
FirstService Corporation (NASDAQ: FSRV; TSX: FSV) is a global diversified leader in the rapidly growing property services sector, providing services in the following three areas: commercial real estate, residential property management; and property services. The industry-leading service platform includes FirstService Real Estate Advisors, the third largest global player in commercial real estate services; FirstService Residential Management, the largest manager of residential communities in North America; and TFC, North America ’s largest provider of property services through franchise and contractor networks. FirstService generates more than US $1.8 billion in annualized revenues and has more than 18,000 employees worldwide. More information about FirstService is available at www.firstservice.com

19 January 2010, Bangkok – The Hotels & Leisure, Asia team of Colliers International has successfully concluded the selection of an internationally known serviced apartment operator for a luxury serviced residence planned to open in Bangkok, Thailand in early 2010.  The team was the sole and exclusive advisor for the project and, after a lengthy process, Shama, a Hong Kong based, specialised serviced residence operator, was appointed by the owner to manage the property, which will be named as ‘Shama Bangkok’.

It is Shama’s first management agreement in South East Asia, although they have a number of serviced residences already operating in Hong Kong and the PRC.

The 19-storey property is situated in a prime position in the heart of Sukhumvit, Bangkok’s premier location for business travellers and tourists, being within easy reach of both the BTS Skytrain and the Metro Underground system, plus being within 200 m of Bangkok’s main north to south expressway.  The property is around 30 to 40 minutes’ driving time from both Suvarnabhumi International Airport and Don Muang Airport.

The property, which is nearing construction completion, will be 5-star international standard and comprise 90 residences with a variety of unit sizes and configurations; there will be 20 one-bed units at around 60 sq.m., 52 two-bed units at 110 sq.m., 14 three-bed units at 140 - 145 sq.m. each and 4 three-bed units at 160 sq.m. each.

Other facilities include a lobby restaurant, a fitness centre and swimming pool, plus some meeting facilities.

“We were very pleased to have had this opportunity to work with the property owner in the selection and appointment of Shama, and are pleased to have been able to introduce Shama as the operator to their first serviced residence in South East Asia,” said R. Keith Humphreys, Director of Hotels & Leisure, Asia, Colliers International.  “It’s an important milestone in Shama’s regional growth.  Now the management agreement has been signed, Shama will commence work immediately and provide technical services and pre-opening services in order to have the property open by early 2010.”

Thailand Megatrends
Unique growth prospects for the new decade

Thailand is poised for a decade of growth according to substantive research released today by real estate and property services giant, Colliers International Thailand. “The research points to four compelling and positive factors that favour in the new decade” pointed out Patima Jeerapaet, Managing Director of Colliers International Thailand. “I have been involved in real estate for most of my adult life, but the next ten years could be the most exciting” he stressed.

“It is a unique period of opportunity, which provides a window of significant economic and social development for the country” said Antony Picon, Senior Research Manager for Colliers and writer of the report. “Demographic and regional economic factors are pointing in the right direction for sustainable development of the economy and it is vital that this reality is grasped by our policymakers and policy implementers, starting from today” he stated.

1. Demographic dividend presents window of opportunity 
“ is at the apex of one of its most dynamic and exceptional demographic periods for potential economic growth” points out Antony Picon from Colliers International Thailand.

While economists still debate about the causes of the Japanese economic miracle and later the explosive growth of the South Korean and Taiwanese economies, one key factor is often overlooked: demographics.

It is no coincidence that both Japan and ’s growth was coupled by a dramatic increase in the proportion of people aged between fifteen and sixty four. ’s economy expanded by over 8% a year from the 1960’s to 1990’s, occurring during a remarkable increase of the proportion of its population of working age. The same correlation occurred for in the eighties and in the nineties.  Some economists refer to it as the Goldilocks period, not too hot and not too cold; a period when many enter the workforce but few leave it for retirement and fewer babies are born due to low fertility rates. Antony referred to . “Its demographic story is instructive; at around the turn of the new millennium the population started to age, which was also a period of sclerotic economic growth for the country”.

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