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Jones Lang LaSalle plans to invest $5 bn in property market
Posted by Srini Uppala | December 11, 2007 | 231 views
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Loading ...The US-based Jones Lang LaSalle (JLL), the world’s leading integrated global real estate services and money management firm, is planning to strengthen its position in India. The firm, which recently merged with Trammel Crow Meghraj, a property consultant based in Mumbai, will bring in its investment management business to India and has plans to invest around $5 billion in the country’s burgeoning property market.
“We don’t have any presence in India’s investment management service sector. Now, we have lined up plans to bring in the business to the country. We have also earmarked close to $20 billion for the Asia-Pacific region, and India would get anywhere close to 5% of the amount,” said, Jones Lang LaSalle president and chief executive officer, Colin Dyer.
He said the fund would be deployed in the high growth sectors like real estate, hospitality and infrastructure sectors for investment. For the first time in its 220 years of history, JLL recently hosted in India its global board of directors and global executive committee.
“We are excited by the opportunities that lie ahead for our business, employees and clients in India,” said Mr Dyer. He said the Indian real estate market is burgeoning and becoming a significant contributor to India’s economic growth. The country is on the radar of many corporations looking at investing or expanding their businesses in Asia and the economic and business outlook is positive.
In India, the merger of Jones Lang LaSalle and Trammel Crow Meghraj in June 2007 to form Jones Lang LaSalle Meghraj has helped the firm to strengthen its presence in the real estate services industry in this booming economy, says an industry official.
SOURCES:
Economic Times
Topics: Real Estate |
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