Knight Frank Partners DBS Bank to offer Real Estate Solutions to HNIs
Mumbai, 27 January, 2010: Leading independent International property consultancy – Knight Frank India Pvt Ltd has entered into a strategic alliance with DBS Bank India, to offer real estate services in the residential and commercial domain to the bank’s HNI (High Net worth Individuals) clientele. The services to be offered through this ‘Client Referral Arrangement’ between Knight Frank and DBS have been distinctly crafted to provide HNI customers looking at acquiring or managing their existing portfolios to derive the maximum value from their property assets. These services will encompass a wide range including office rentals and commercial occupancy advice, industrial land acquisitions, residential purchasing and leasing. In addition, Knight Frank will offer customers in depth consultancy in creating viable and diverse real estate portfolio’s.
Speaking about the alliance, Mr. Amit Goenka, National Director – Capital Transactions, Knight Frank India said, “Real Estate is an important asset class in any HNI’s wealth portfolio and in many occasions they contribute to as much as 30% to 40% of the overall asset class distribution of the individual. It, therefore, becomes imperative for a holistic approach to managing a customer’s wealth, including by offering real estate and other alternate asset class products to them. The ‘Client Referral Arrangement’ with DBS will enhance our distribution and enable us offer multiple real estate products to a niche clientele. We are very excited to partner with a reputed and Asian brand like DBS and look forward to working with them very closely to deliver value through methodical and practical advise to their customers.”
Elaborating further about the strategic alliance, Mr. Rahul Johri, Head – Consumer Banking, DBS Bank India said, “At DBS, we are committed to providing our clients comprehensive wealth management solutions. We are partnering with industry leaders to whom we can refer our clients to for providing relevant non financial services. Real estate has emerged as a preferred asset class for HNIs and NRI investors and this alliance with Knight Frank enables them to directly offer interested customers comprehensive support and advice regarding their property portfolios be it to buy, sell or lease. With this arrangement, DBS customers who are interested in availing real estate services will be referred to Knight Frank and deal with them directly and independently. Our endeavour is to arrange for our customers to receive the best possible advice to maximize, protect and grow their wealth holistically.”
A significant factor that makes this alliance beneficial for customers is the fragmented and localised ‘Professional Realtor / Broker’ market in the country. Across several regions, capital and rental values of property fluctuate depending on the type of asset (i.e. residential, office or retail shop space), grade of property, available, city infrastructure, city planning etc all of which, require detailed inspection before investment decisions are made. The top of the line quality of service and consultancy that an HNI customer is accustomed to while purchasing a financial product is usually not replicated when the same customer chooses to buy real estate, through a local realtor / broker. It is here that International Property Consultants, like Knight Frank, who have a trained and professional relationship management team to service HNI’s real estate requirements, can add significant value.
About Knight Frank:
Knight Frank India was started in 1995 and today has presence across 7 principal metros across the country. It has delivered more than 3,000 valuation reports and over 1,500 consultancy assignments. Knight Frank India provides a comprehensive range of real estate related services covering residential, commercial, land, investments, hospitality & leisure, valuation, advisory services, facilities management and project management. For further information, please visit www.knightfrank.com.
About DBS
DBS - Living, Breathing Asia
DBS is the largest bank in Singapore, a leading bank in Hong Kong and is one of the largest financial services groups in Asia. Headquartered in Singapore, DBS has operations in 16 markets and is a well-capitalised bank with "AA-" and "Aa1" credit ratings, one of the highest in the Asia Pacific region. As a bank that specialises in Asia, DBS leverages its insights, deep understanding of the region and appreciation of local cultures to serve and build lasting relationships with its clients. DBS provides a full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. DBS will leverage its growing presence in China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows in the Greater China region. The bank is also focused on extending its footprint and facilitating capital flows in fast-growing Indonesia and India. DBS acknowledges the passion, commitment and can-do spirit in each of its 14,000 staff, representing over 30 nationalities.
About DBS India
DBS is the first and the largest Singapore bank with branches across 10 cities- Bengaluru, Chennai, Kolkata, Moradabad, Mumbai, Nashik, New Delhi, Pune, Surat and Salem. It provides innovative financial solutions to individual clients, small and medium-sized enteprises (SMEs) and a number of blue-chip corporates. With a strong Asia franchise, DBS provides a region specific focus in banking and outlook to clients. It offers retail wealth management solutions through its “DBS Treasures” proposition, and provides a wide range of enterprise banking services, including corporate lending, treasury services, transaction services and mergers and acquisitions (M&A) advisory. DBS has staff strength of 400 people in India and is actively involved with local communities through its association with established charitable organizations. DBS plans to roll out several new initiatives and is committed to building a universal banking franchise in India. For more information, please visit www.dbs.com/in