Global real estate consulting powerhouse, Jones Lang LaSalle (JLL) announced that the company would be substantially expanding their presence in the Sri Lankan market, commencing with the opening of its new dedicated office at the World Trade Centre, in a bid to cater to rapidly growing demand for specialized real estate services on the island.
Entering the Sri Lankan market at the start of the construction boom in 2011, JLL has quickly emerged as one of the island’s leading resources for information and data on trends and developments in the domestic real estate sector together with property management services, real estate transactions and strategic consultancy.
Having since gathered an impressive portfolio of clientele in the Sri Lankan market, including major local brands in the apparel and IT industries, together with several respected multinationals, JLL expects to grow its team to in excess of 120-strong before the end of 2017.
Elaborating on the potential for growth in Sri Lanka, JLL Sri Lanka’s recently appointed Managing Director, Steven Mayes noted that increasing sophistication in the requirements of the domestic market had resulted in increased demand for more comprehensive, real estate advice across a broad spectrum of services and asset classes.
“The Sri Lankan economy is among the most vibrant in the South Asian region and we see tremendous potential for development. This potential is best reflected in the broad-based growth being recorded in the real estate sector.
“For our part, we will continue to work to introduce international expertise and best practices to the local real estate market, and through these efforts, we believe that JLL will be able to play a vital role in developing a more systematic approach to real estate, which will serve as an important precursor towards attracting greater foreign direct investment into the country over the medium-long term.”
Since being established in the Sri Lankan market, JLL has been actively engaged in thought leadership, most recently publishing comprehensive reports analyzing developments in the country’s booming hospitality sector and tracking notable trends across its real estate sector.
The Company has also recorded substantial growth in its Project Development Services (PDS) division, in its Integrated Facilitates Management portfolio, operating multiple real estate locations for corporate clients, and Markets Division which handles real estate leasing and sales transactions.
JLL is a professional services and investment management firm offering specialized real estate services to clients in more than 80 countries worldwide. The Fortune 500 Company operates from 280 corporate offices with a global workforce of 70,000 providing management and real estate outsourcing services for a property portfolio of 4 billion square feet. In 2015, the company completed USD 138 billion in sales, acquisitions and financial transactions.