JLL, TCM Announce Merger

June 13, 2007	(2 votes, average: 4.5 out of 5)  Loading ...
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Jones Lang LaSalle and Trammell Crow Meghraj announced on Tuesday a definitive agreement to merge the two leading real estate consultancies to create the largest real estate services firm in the country called Jones Lang LaSalle Meghraj.

JLL-TCM services will have one of the country’s best research and development teams with the ability to offer clients a comprehensive portfolio of real estate consultancy services.

The market share of the new entity will be 35% and it would be 50% of the international property consultants sector.

The total real estate management under JLL Meghraj will be 44 million sq ft, combining 21 million sq ft of JLL and 23.2 million sq ft of TCM.

Taking the project development services into account, they would be around 21 million sq ft whereas the combined leasing transactions will be 22 million sq ft.

With the merger, the total employee strength of the newly formed company will now be 2,800 which is likely to grow by 35% by 2009 with offices established in 10 locations. JLL Meghraj aims to take its turnover to $100 million mark by 2009.

The new entity will also introduce a full range of new products and services such as a hotel division, new capital markets and shopping center management. Meghraj Properties chose JLL as its effective partner after buying back the equity of Tramell Crow.

News Published Under:   Real Estate India |

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