The Koll Co., a real estate development firm, said Wednesday that it has entered the Asian market by acquiring a 50% interest in Indo Pacific Property, one of the largest real estate firms in Indonesia.
Koll is also establishing a new business entity, Koll Asia Pacific, to oversee Koll's expansion across Asia. Both will be based in Jakarta.
Since its formation two years ago, Indo Pacific Property has sold more than $200 million in properties, and it employs more than 90 people.
Glen Raiger, Koll's executive vice president and chief executive of Asian operations, said the company is opening additional offices in other major Asian cities and has lined up corporate advisory and property management assignments in Singapore and China.