Global real estate services firm Jones Lang LaSalle (JLL) has announced its acquisition of Indonesia’s largest property consultancy firm Procon, creating the largest real estate services company in the country.
“I am delighted and excited with this new combined business operation in which clients will receive greater benefit as it brings together a deep leadership talent from two thriving businesses,” said Lucy Rumantir, the new Chairman for JLL.
With more than 300 personnel, the combined business’ headquarters will be in Jakarta, with offices in Bali and Surabaya.
“Integration of the business lines and the team as well as a full rebranding of the business will begin immediately,” said JLL.
JLL worked with Procon in 1980 to establish the first international property consultancy firm in Indonesia but both companies decided to part ways in 2001.
“With this long history together, the two firms share a similar culture and business values. They have built a strong track record in supporting the needs of real estate owners and occupiers with their broad range of industry expertise,” added JLL.
Chris Fossick, Managing Director for JLL South East Asia, said, “The two firms share similar values and have deep roots in the real estate services industry in Asia Pacific. It is a solid cultural fit and the synergy will significantly strengthen our value to clients in Indonesia and across the region.”
Todd Lauchlan will lead the business operations as Country Head. Both JLL and Procon’s senior management will hold leadership positions in the company and all employees will have similar roles within the combined organisation.
“The combined strength of our businesses enables us to capitalise on Indonesia’s economic growth and provides us with a scale and depth of expertise which will be of great benefit to our clients. Clients will also benefit from the increased number of services which we now offer allowing them greater ability to tap into opportunities in the market,” said Lauchlan.
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