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JLL Singapore acquires 20 per cent stake in PropNex International

Singapore’s market leading residential real estate agency

​​SINGAPORE, 5 August 2014 - JLL (NYSE: JLL) has today announced that, in line with its growth strategy for the firm’s residential business in South East Asia, it has acquired a 20 per cent stake in PropNex International, the project marketing arm of PropNex.​​​

Since 2007, JLL has been steadily growing and successfully investing in the different aspects of the firm’s residential property business in Singapore, as part of its long-term strategy to strengthen its offering to clients. This has included the acquisition of Property Edge (agency/high-end project sales), DST International (international project sales), Credo Real Estate (en bloc and residential land sales, valuation) and Halcyon Real Estate (residential leasing).​​​

Chris Fossick, Head of Singapore and South East Asia at JLL said: “This move addresses the missing link in JLL’s residential business – sales of new mass market homes - and is a considered and strategic response to Singapore’s evolving residential and commercial markets. Sales volume of new homes in the mass market or Outside Central Region (OCR) region rose 250 per cent in the last five years compared to the previous five years. We believe the supply of new mass market homes will continue to dominate the residential sector and, as such, the project marketing business will inevitably continue to evolve in a similar way to the largest associate agencies.”​​​

Founded in the year 2000 and led by Mohamed Ismail, Alan Lim and Lim Yong Hock, PropNex is one of the largest local real estate agencies in Singapore with a network of over 5,600 salespeople. PropNex International, the project marketing arm of PropNex, was founded in 2007 and is led by its Managing Director and co-founder Ivan Hoh.​​​

Mr Fossick added: “This partnership with PropNex brings together JLL’s global platform and clientele with PropNex’s unrivalled local sales network and Singapore project marketing expertise. We can now support our clients by providing them with one of the largest networks of salespeople in Singapore, with access to buyers in both the residential high-end and mass market segments. In addition, JLL will be able to leverage on this network to support our clients who are seeking to lease their properties or invest in the commercial sector through the sale of strata-titled office, industrial and retail units.”

“Working with PropNex, we not only believe that we have uniquely positioned JLL well ahead of the curve but also that, in time, the established Singapore associate agency and project sales model could be introduced to markets outside of Singapore.”​​​

Mohamed Ismail, Chief Executive Officer of PropNex said: “This strategic alliance is the result of careful selection of the right partner who shares similar core values and a common goal to achieve the highest standards of client service. We are confident that our clients, investors, developers and own sales force will benefit from the opportunities of wider global outreach with JLL’s global network and sophisticated consultancy services. We look forward to embarking on this great journey together.”

As part of the partnership, JLL's Head of Investments and Residential, Karamjit Singh, has been appointed to PropNex International's board of directors which is chaired by Mohamed Ismail.

 - ends - 

Notes to editors

About PropNex

PropNex’s meteoric rise to become Singapore's foremost real estate player is an inspiring success story indeed. It has its genesis in 1999 as the brainchild of two visionary companies, Prulink and Nooris. With a shared vision of providing top quality service that customers trust, the company was founded and formed by Mohamed Ismail and partners in 2000. This has allowed them to benefit from the economies of scale that consumers could also enjoy as a result.

Building on its founding principles, PropNex quickly gained a reputation for service excellence, eventually adopting the tagline “Service You Trust” in 2008, to best encapsulate the essence of the brand name. This belief in service has propelled the brand to become one of Singapore’s largest real estate companies with a sizeable market share in both the public and private markets. With turnover of over S$150 million over the last 5 years, PropNex has constantly led the way in raising professional standards in the real estate industry, and has won many prestigious industry accolades over the years, including the prestigious People-Centric Award at the Asia Responsible Corporate Awards 2013 (ARCA), 2014 International Property Awards Asia Pacific 2014 – Highly Commended Real Estate Agency (Singapore),  Readers’ Digest Trusted Brands Award for 3 consecutive years (2008 - 2010) and more.

About PropNex International

PropNex’s residential Project Marketing division - PropNex International is a phalanx of dedicated marketing consultants with a proven track record of high volume residential sales. The sales forces possess an impressive ability to meet the needs of the customers for any project, large or small, high-end or mass market. The scope of services covers two broad categories: Project Consultancy & Product Development, and Residential Project Sales & Marketing.

Its expert know-how has consistently exceeded the expectations of prestigious clientele that features at least 30 different local and International projects (United Kingdom, Australia, Philippines, Malaysia) at any one time – current projects that salespersons are marketing include City Gate at Beach Road, Commonwealth Towers at Alexandra, Thomson Grand, Spring at Langsat, Onze at Tanjong Pagar, Belgravia Villas at Ang Mo Kio and more.

About JLL

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. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 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

JLL has over 50 years of experience in Asia Pacific, with over 27,500 employees operating in 80 offices in 15 countries across the region. The firm was named ‘Best Property Consultancy’ in seven Asia Pacific countries at the International Property Awards Asia Pacific 2014, and won nine Asia Pacific awards in the Euromoney Real Estate Awards 2013.