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News Release

Singapore

Jones Lang LaSalle further expands its residential foot print across South East Asia

With its most recent acquisition of DST International Property Services in Singapore


SINGAPORE, 17 October, 2011 - Jones Lang LaSalle, the leading global real estate services firm has strengthened its residential footprint in South East Asia by acquiring DST International Property Services in Singapore.

DST International is a property services company established in 1998 to market new and refurbished residential properties around the world particularly in UK, USA and Asia Pacific.
Founder of DST International Doris Tan found her niche in real estate as Director of Hill Samuel Property Services which opened up  a portfolio of unique and choice properties stretching from Asia Pacific to US, Middle East and Europe.  Over the past 6-7 years DST has built a thriving business marketing UK properties in Singapore for King Sturge which merged with Jones Lang LaSalle earlier this year. 

Doris Tan says, “We are very much looking forward to joining forces with Jones Lang LaSalle in Singapore.  The combined residential capability and strong brand recognition that Jones Lang LaSalle brings will provide us with a scale and depth of expertise and services that will be a great benefit and add value to our clients.”

Chris Fossick, Managing Director of Jones Lang LaSalle South East Asia and Singapore says, “It is fantastic news that Doris Tan and her team at DST International Property Services have joined Jones Lang LaSalle in Singapore.  This acquisition is part of our expansion in recent years into providing residential property services for our clients.  DST is the leading agency in Singapore for the sale of London properties and also has extensive experience in selling international properties to Singapore based investors in countries like the USA and Australia as well as the UK.”

“DST will greatly strengthen our international residential sales capability and add the final and third leg to our residential platform i.e.

1. Residential leasing; corporate tenants and owners

2. Singapore residential project sales; project marketing and ad-hoc sales; and

3. International residential sales:  Europe, USA, Asia Pacific

The London market has for many years been attractive to Singapore investors and with the wealth creation in Singapore and the Asian region, we expect Asian investors to continue to buy in London, particularly at times like this when the Sterling has corrected considerably against the Singapore Dollar and other Asian currencies.”

King Sturge, the London based agency which merged with Jones Lang LaSalle earlier this year, has had a close and very successful association with DST for many years, and I am particularly pleased that this successful working relationship can now continue even more closely.”
Peter Murray, Director of Jones Lang LaSalle London (and formerly Partner for King Sturge) says, “London is firmly established as a destination of choice for Singapore clients.  Whether they purchase for their own use or as a base for their children to stay while studying or alternatively just for yield and capital growth investment.  One point is consistent Singaporeans understand and appreciate the benefits of owning London property.  The London residential property market has proven resilient during the past 3 years, since the fall of 2008, and has demonstrated strong capital growth with continued growth forecast going forward.  This is underpinned by strong international demand, an imbalance between supply and demand and a strong rental market.  We are delighted to continue our strong market leading relationship with Doris Tan and her team through their merger with Jones Lang LaSalle and we are thrilled that we are now all on the same team.”
 
 
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About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than USD 2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with USD 45.3 billion of assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 20,800 employees operating in 77 offices in 13 countries across the region. The firm was named the Best Property Consultancy in Asia Pacific at 'The Asia Pacific Property Awards 2011 in association with Bloomberg Television'. For further information, please visit our website,www.ap.joneslanglasalle.com

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