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News Release

Singapore

JLL announces senior director changes in its Singapore Capital Markets business

Move aimed at strengthening local and institutional capital markets business, with increasing focus and reach towards key investor clients from China and the region


​​​Singapore, 27 October 2014 – JLL today announced senior director changes in its Singapore Capital Markets business, in a move aimed at strengthening its capital markets business in Singapore and reinforcing the firm's market leading position. The changes are in line with the firm's plans to increase its focus on key local and institutional investor clients, and to have greater access to regional investors (including institutional and China investors) looking at Singapore.

According to Mr Chris Fossick, Managing Director of JLL Singapore and South East Asia, one of the most important strategic initiatives for the JLL Singapore business in 2015 is to focus more intensively on key clients – both local and institutional. "While institutional investors have typically been global in their outreach, Singapore's local players are now becoming formidable forces internationally," said Mr Fossick. "JLL, as the only international property consultancy that is singly owned, is in the best position to advise and assist them with all their real estate requirements."

Following his promotion to International Director this year, Karamjit Singh, who currently heads the Singapore Residential and Capital Markets team, will be taking on an enlarged role in leading JLL's business development drive and enhancing relationships with the firm's key clients in Singapore. He will work hand-in-hand with Chris Fossick to strengthen JLL's partnerships with clients and support them in driving greater value in their real estate decisions.

"Since re-joining JLL over two years ago with the integration of Credo Real Estate, Karamjit has played a key role in the firm's acquisition of Halcyon Real Estate and recent partnership with PropNex. Under his watch, JLL's Singapore Capital Markets business has also grown to be the largest multi-disciplinary team and clear market leader, with mega deals such as Grand Park Orchard Hotel (S$1.16 billion), TripleOne Somerset (S$970 million) and 456 Alexandra Road/NOL Building (S$380 million)", said Mr Fossick.

Karamjit will continue to lead the Singapore Residential team, including JLL's recent partnership with PropNex, run the firm's collective sale business and work closely with the local Capital Markets team on investment sales transactions. He will continue to report to Chris Fossick in his new role.

Greg Hyland, Regional Director in JLL's Asia Capital Markets team, has been appointed as the head of the Singapore Capital Markets team, taking over the reins from Karamjit. Greg has been with JLL for 14 years, with the last four years based in Singapore in the Asia Capital Markets team concentrating primarily on China. Married to a Singaporean, Greg is a father of twin girls. Before moving to Singapore, he was based in Shanghai for 10 years and ran the Shanghai Capital Markets team.

"We are very happy to welcome Greg, who brings a valuable dimension to the Singapore Capital Markets business with his strong relationships with institutional investors and China-based investors, who are the largest foreign-based purchasers in Singapore, while also being closely connected to Singapore," said Karamjit.

Over the last two years, Greg has been instrumental in the successful sale of major assets in excess of US$2 billion in China such as Jinqiao Life Hub, Central Plaza, Ocean Towers, Nanjing IFC and Waterfront Place.

He will be supported by senior directors in the Singapore Capital Markets team – Anthony Barr, Tang Wei Leng (who joins JLL on 1 November 2014) and Yong Choon Fah. Greg will report to Chris Fossick and will also support JLL's Asia Capital Markets team with Singapore-based and overseas investors who wish to make investments in Asia.

Tang Wei Leng, formerly the head of Colliers International's Investment Sales department, will join JLL's Singapore Capital Markets team on 1 November 2014 as a Regional Director. Wei Leng is no stranger to JLL, having started her career at Jones Lang Wootton (JLL's former name) where she spent 14 years before joining DTZ and later Wachovia Bank.

"Wei Leng is a well-known and versatile investment sales expert who has advised on all types of assets, ranging from en bloc sales, large office buildings, industrial space to strata-offices, in an illustrious career spanning over 20 years to date," said Karamjit. "Her addition to the team would strengthen JLL's depth of coverage with both local and institutional investors."

Wei Leng's achievements include the sale of Burlington Square (S$89 million), Parkway Centre (S$53 million), CHIJMES (S$77 million), Leedon Heights (S$835 million), St Patrick's Garden (S$172 million), Amber Glades (S$118 million) and Lam Soon Industrial Building (S$141 million).

Tan Hong Boon, Regional Director in the Singapore Capital Markets team, will be seconded to JLL's newly-established Malaysia business for an initial period of 12 months, to provide strategic and operational support to Country Head, Ms YY Lau, as part of the firm's rapid growth in Malaysia.

"A Malaysian by birth, Hong Boon has extensive experience in supporting the growth of newly-formed businesses, which was what he successfully did for Credo Real Estate," said Mr Fossick. "With his professional and local knowledge and many contacts in Malaysia, I am confident that he will be able to make a significant contribution to the development of our business there. In addition, Malaysian high-net worth investors and developers have also been a major source of capital into Singapore's real estate market. In his new role, Hong Boon would be able to help facilitate the marketing of local investment grade assets for JLL Singapore."

Hong Boon will report to YY Lau during his time in Malaysia.

The above changes will take effect as of 1 November 2014.​​​


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Note to Editors:

Please click here for high-resolution images of:

    1. Karamjit Singh
    2. Greg Hyland
    3. Tang Wei Leng
    4. Tan Hong Boon