Jefferies hiring Citi’s top Asia real estate dealmaker Quek

Jefferies hiring Citi’s top Asia real estate dealmaker Quek

Jefferies Financial Group has announced the hiring of Quek Leng Chan, the former chairman of GuocoLand, as its new head of Asia real estate. The move comes as the financial services firm aims to strengthen its presence in the region's real estate sector.

Quek, who stepped down from his role at GuocoLand in 2023, is known for his significant contributions to the real estate industry in Singapore and Malaysia. His experience includes the sale of GuocoLand's Johor Bahru hotel to YTL Group for MYR 150 million ($35.5 million) [1].

The hiring of Quek is part of Jefferies' strategy to expand its real estate advisory services in Asia. The firm is looking to capitalize on the region's growing demand for investment opportunities in the hospitality and data center sectors.

The deal with YTL Group, which acquired the 381-room Thistle Johor Bahru hotel, is a notable example of the type of transactions that Quek could help facilitate in his new role. The hotel, located within a 10-minute drive of Malaysia's border with Singapore, is a key asset in the region's hospitality landscape [1].

In addition to his experience in hospitality, Quek also has a background in data centers, having worked on projects involving China's data center boom. His expertise could prove valuable as companies like OpenAI and AWS expand their data center operations in Asia [2].

The appointment of Quek is a significant addition to Jefferies' team, particularly as the firm looks to navigate the region's evolving real estate market. With his extensive experience and network, Quek is well-positioned to help Jefferies secure high-profile deals and provide valuable insights to its clients.

References:
[1] https://www.mingtiandi.com/real-estate/crelist/guocoland-selling-johor-hotel-for-36m-and-more-asia-real-estate-headlines/
[2] https://www.mingtiandi.com/real-estate/crelist/openai-scouting-partners-for-1gw-india-data-centre/