Cushman & Wakefield (C&W), a global real estate services firm, has sold its majority shareholding in its affiliate in Singapore, Edmund Tie & Company Holdings to Edmund Tie, executive chairman and shareholders. Edmund Tie & Company Holdings currently operates in Singapore and South East Asia as DTZ.

The sale will conclude a 17 year-relationship between DTZ Holdings and Edmund Tie & Company Holdings, which began in 1999.

Following the sale, C&W will continue its Singapore operations under the leadership of its managing director, Stephen Saul. Meanwhile, DTZ Debenham Tie Leung (SEA) Pte Ltd will operate as Edmund Tie & Company (SEA) Pte Ltd.