Savills Singapore acquires majority stake in Alpina for $40m

Purchase adds engineering expertise to Savills’ regional services network

Savills Singapore completed the acquisition of a 70% stake in Alpina Holdings for $40m, according to a press release.

According to Savills, Alpina will support the company’s plan to deliver integrated facilities, property and technical services platforms across Asia-Pacific.

The transaction forms part of Savills’ multi-year plan to expand its Singapore property and facilities management platform.

The deal also followed Savills’ acquisition of Absolute Maintenance Services in 2022 and the appointment of Cheng Su Chen as Group Managing Director earlier this year. Savills and Alpina said the combination will allow the enlarged group to serve clients with a wider range of facilities and engineering services.

Founders Low Siong Yong and Tai Yoon On will retain 30% ownership in Alpina Holdings.

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