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Two leading real estate advisory firms combine operations in Hong Kong
HONG KONG, 20 July 2011 – Global commercial real estate firm Jones Lang LaSalle (NYSE: JLL) merged with international property consultancy King Sturge. Apart from the UK and continental Europe, the combined firm will be the clear leader in Hong Kong as well, with greatly enhanced strength and depth of service capabilities that will directly benefit the clients of both companies.
All 43 King Sturge offices and businesses across Europe, including its Hong Kong office, will become part of Jones Lang LaSalle and will operate under the Jones Lang LaSalle brand. Integration of business lines and teams, along with the full rebranding of all business activities, begins immediately.
In Hong Kong, we will strengthen our business, particularly in the international properties segment. With 8 people joining the Jones Lang LaSalle Hong Kong team, we will have a total of 11 members growing our business in the international properties market. Leveraging off King Sturge’s international properties experience in Hong Kong, plus our extensive global platform, we will provide clients with one-stop services and maximise real estate value for both landlords and clients.
Joseph Tsang, Managing Director of Jones Lang LaSalle Hong Kong said, ‘The obvious strategic merger between Jones Lang LaSalle and King Sturge makes this a logical and very attractive proposition for both firms. It gives us a scale and depth of expertise in the international residential market that will make our client service delivery capabilities second to none in Hong Kong.’
Gavin Morgan, Deputy Managing Director of Jones Lang LaSalle Hong Kong commented, ‘We are tremendously excited to combine these two outstanding firms. Each has a reputation for excellence based on teamwork and putting clients first. Merging brings us new and strengthened leadership positions in a number of markets and creates Hong Kong's most experienced and respected international residential team, providing our Hong Kong clients with the finest selection of new developments and prime properties throughout London. We will continue to provide the same high level of personal service to existing clients as well as welcoming new clients and assisting with London and UK property requirements. ’
The merged business is set to operate in 70 EMEA markets across 30 countries employing 5,300 people providing integrated real estate services worldwide to investor, owner and occupier clients. The UK business will have 2,700 employees across 34 offices.
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