Acquisition Extends Real Estate Firm's Design, Construction and Fit-Out Capabilities in the Region
SINGAPORE -- (Marketwired) -- 08/14/16 --
JLL (NYSE: JLL) has acquired PDM International, a leading interior design practice with a 20-year track record across Asia Pacific.
With more than 180 professional staff, PDM delivers innovative and creative design and construction solutions for office, retail, hospitality, residential and leisure real estate projects. The acquisition is the latest example of JLL's disciplined acquisition strategy which, since the start of 2015, has seen JLL announce or close more than 40 margin-accretive transactions with a combined value of approximately $1.2 billion.
"This is an exciting move for JLL, adding to our already strong Project and Development Services offering in Asia Pacific," says Jordi Martin, CEO, Corporate Solutions Asia Pacific, JLL. "PDM's expertise in design and construction is an ideal complement to our existing project management and construction management capabilities. This acquisition will enable JLL to deliver end-to-end, multi-disciplinary fit-out solutions across the region."
Marcus Foley, co-founder of PDM International, says: "We are thrilled to be joining the JLL family. Our expertise and geographic footprint as a company is a great fit with what JLL already offers and we are looking forward to working together to expand the business across Asia Pacific."
PDM's design and construct expertise will complement JLL's Project Management and Construction Management capabilities. With the addition of PDM, JLL will be able to provide design and construct services in 19 cities, with the addition of Beijing, Shanghai, Bangkok, Kuala Lumpur and Seoul, and continue to provide project management in 27 cities across Asia Pacific.
"We're delighted to bring the talent and entrepreneurship of PDM co-founders Marcus Foley, Dennis Lim and their team into the JLL fold and are confident that they will help us to accelerate the growth of our Project and Development Services business across Asia Pacific," adds Mr. Martin.
Mr. Foley and Mr. Lim will report to Albert Ovidi, COO, Asia Pacific, JLL, as well as Mr. Martin.
PDM services that will be incorporated into the JLL business include building analysis, feasibility studies, space planning, project brief development, concept design, 3D renderings and animations, sustainable design development, construction documentation, furniture and storage evaluation, construction and site management, FFE (Furniture, Fixtures and Equipment) specification, procurement and turnkey construction solutions.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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