Tuesday, December 18, 2007

Jones Lang LaSalle plans to invest $5 bn in Property market

The world’s leading integrated global real estate services and money management firm, Jones Lang LaSalle is planning to strengthen its position in India. Seeing the lucrative opportunities in the mushrooming Indian Real Estate market, the firm is thinking of investing $5 billion in the Real Estate sector. Recently, Jones Lang LaSalle merged with Trammel Crow Meghraj, a property consultant based in Mumbai.

Colin Dyer, president and chief executive officer, Jones Lang LaSalle said that they don’t have any presence in India’s investment management service sector and they have lined up plans to bring in the business to the country. He also added that the firm has allocated close to $20 billion for the Asia-Pacific region, and India would get anywhere close to 5% of the amount.

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.

via indianrealtynews

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