MANILA, Philippines, December 6, 2016 – Philippine real estate veteran Rick Santos today unveiled the new long-term franchise partnership between his company and Knight Frank LLP, the leading private global property consultancy. Santos had previously announced his decision not to renew his existing franchise agreement with CBRE and will transition his entire company to the new brand of Santos Knight Frank effective 1 January 2017.

Santos will remain as CEO of the organization that brings to the partnership a 23-year track record as a pioneering full-service real estate consultancy in the Philippines with 11 stand-alone business lines, a team of 1,200 employees, and an enviable list of Philippine and international clients.

“Following extensive consultation with local, regional, and global business leaders, we chose to partner with the organization that best demonstrated an unequivocal commitment to the Philippine market and one that was fully aligned with our client-centered philosophy. I am delighted to announce our partnership with Knight Frank and my entire team is excited to extend our market-leading position and continue to drive growth in the Philippine real estate sector,” Santos said in a statement.

“It has always been of the utmost importance to me that our roots as a Philippine-controlled organization are not disturbed, leaving us best positioned in the market to deliver the comprehensive range of professional services that our clientele requires. The Knight Frank model is focused on the owners of businesses working in those business and this was another key factor in our choice of partner,” said Santos in confirming his commitment to the Knight Frank.

Founded in 1896 and headquartered in London, Knight Frank is the largest privately owned global real estate consultancy, with more than 400 offices in 59 countries across the globe – this includes a strategically important partnership with Newmark Grubb Knight Frank (including the market-leading West coast operations of Newmark Cornish & Carey) in the United States.

Kevin Coppel, Asia-Pacific Regional Head at Knight Frank, added, “The Philippines is a thriving and stable economy, and in Rick Santos we have found a business partner with both the reputation and integrity that fit perfectly with the Knight Frank brand.

“Over the medium term, we expect to see sustained economic growth in the Philippines, fuelled by favourable demographics, continuing foreign direct investment, further BPOs, strong overseas remittances and continued infrastructure development – all of which will drive robust demand in the real estate sector.”

“The BPO industry continues to grow as economies in the West recover. Outsourcing continues to be one of the most viable options for these companies to cut on cost and to operate efficiently, and the Philippines remains one of the best destinations for these outsourced jobs. This has been driving the office market growth for the past several years,” said Jan Custodio, who is Rick Santos’ Senior Director for Global Research and Consultancy.

Alistair Elliott, Chairman and Senior Partner at Knight Frank, added, “We continue to focus on recruiting the best people in key markets around the world and Rick Santos and his team is a perfect example of this. This long-term relationship suits our partnership model and opens up another important regional market to the Knight Frank platform.”

“We are excited to enter this new phase in my company’s development as Santos Knight Frank and grow our existing business even further. Southeast Asia is one of the most exciting regions for real estate today, and the Philippines stands on a prime spot as its fastest growing economy preferred by global investors. We see huge potential in the Philippine market and my entire management team is committed to stay and continue to provide the premium quality of independent professional service that our clients expect,” Santos concluded.