Jones Lang LaSalle Incorporated
), which shortened its name to "JLL" in March 2014, disclosed the
buyout of 49% stake in a Kuala Lumpur-based leading transaction and
advisory business - YY Property Solutions Sdn Bhd. The move is
aimed at providing direct services to JLL's customers who operate
in Malaysia or have expansion plans there.
Incepted in 1995, YY Property Solutions offers real estate
agency and investment services to both investors and occupiers
across industrial, retail, office and residential sectors. The firm
is known for providing advice on some of the premium and largest
leasing deals in Kuala Lumpur.
With the above-mentioned acquisition, YY Property Solutions will
now operate as JLL Property Services (Malaysia) Sdn Bhd. As a
matter of fact, YY Lau - the founder of YY Property Solutions -
will lead this business as the Country Head and operate with a team
of 15 personnel. JLL expects to double the employee count in the
coming two years at this new Malaysian Unit.
With YY Property Solutions' excellent local market expertise, we
view the transaction would help JLL to develop solid business in
the region. In fact, the thriving real estate market and improving
Malaysian economy promises high growth prospects for the company,
As a matter of fact, JLL has a broad range of real estate
product and services. Alongside, it possesses extensive knowledge
of domestic and international real estate markets, enabling it to
operate as a single-source provider of real estate solutions. The
company, having annual fee revenue of $4 billion, operates in 75
Jones Lang currently has a Zacks Rank #3 (Hold). Some
better-ranked stocks in the real estate operations industry include
CBRE Group, Inc.
). All the stocks carry a Zacks Rank #2 (Buy).
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