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PROVING that the local realty market is bullish as
ever, two of the brightest stars in the Philippine real estate
services constellation— Jones Lang LaSalle Inc. and Leechiu &
Associates—have pooled their considerable resources to from Jones
Lang LaSalle Leechin with the mission to take on the growing
challenges and opportunities in the sector.
For the record, Jones Lang
LaSalle is the world’s leading integrated global real estate
services and money management firm and Leechiu & Associates, is
a privately held company with a dominant position in the agency
business in the Philippines.
Jones Lang LaSalle is the only
real estate money management and services firm named to Forbes
magazine’s “400 Best Big Companies” for three consecutive
years, and has approximately 170 offices worldwide and operates in
more than 700 cities in over 60 countries. With 2007 revenue of $2.7
billion, the company provides comprehensive integrated real estate
and investment management expertise to owner, occupier and investor
clients.
Leechiu & Associates
has been in operation in the Philippines since 2003, quickly
establishing a leading position in the Philippine agency service
industry, combining outstanding market knowledge and client service
capabilities with experience and dedication. Since inception its
business has grown annually by 68 percent, and has transacted 40
percent of the office space occupied by Business Process Outsourcing
companies in the country.
The merger creates one of the
largest real estate firms in the country which will continue to be
headquartered in Manila, with six site offices, over 175 personnel
and 3.1 million square feet under management.
Jones Lang LaSalle Leechiu
expects strong business growth, with revenues projected to exceed
$10 million by 2009.
David Leechiu, Country Head,
Jones Lang LaSalle Leechiu (formerly CEO of Leechiu &
Associates) is excited about the future for the new company.
He said: “This merger has come
just at the right time for us. Not only is the domestic economy in
the Philippines improving but we are rapidly becoming a recognized
global BPO destination. Jones Lang LaSalle’s global infrastructure
and resources combined with Leechiu & Associates’ local agency
market dominance will generate greater business opportunities and
achieve faster growth for our new company in this positive
climate.”
Collectively, the new firm
services clients such as JPMorgan Chase, Deutsche Bank, Citibank
Savings, Convergys, IBM and HSBC. It also holds exclusive
relationships with six of the 12 largest business process
outsourcing firms in the Philippines including TeleTech and
eTelecare.
Both Jones Lang LaSalle and
Leechiu & Associates’ senior management will hold leadership
positions in the new company, and all employees will integrate into
similar capacities and roles within the combined organization.
Jose Fernando Camus will have
senior oversight as Chairman, Mr. Leechiu will assume the role of
Country Head and Lindsay Orr, who was previously Jones Lang
LaSalle’s Country Head for the Philippines, steps into the
newly-created role of Chief Operating Officer (COO).
Commenting on how the
organizations share similar values, new COO Orr said: “We both
prioritize the importance of professional and ethical standards and
of providing quality service to clients. This natural fit provides a
strong foundation for a business force that will exceed client
needs, harness market opportunities and, importantly, provide
expanded career opportunities for all staff.”
Chris Fossick, Jones Lang
LaSalle’s Managing Director for South East Asia sees this move as
another step toward meeting its global goals. “For Jones Lang
LaSalle, this merger fortifies our ability to achieve our global
objective of being first in all markets in which we operate. It
secures a robust footprint from which we can grow further in the
Philippines; supplementing our strong MNC business and providing
revenue opportunities for our other business lines,” he pointed
out.
E-mail: bizzfizz_98@yahoo.com
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