Jones Lang LaSalle Incorporated (JLL), 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, going forward.
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 countries globally.
Jones Lang currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the real estate operations industry include HFF, Inc. (HF), CBRE Group, Inc. (CBG) and Reis, Inc. (REIS). All the stocks carry a Zacks Rank #2 (Buy).