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Jones Lang LaSalle acquires Singapore’s Credo

Property Report
Jones Lang LaSalle acquires Singapore’s Credo - Jones Lang LaSalle - Singapore - property agent

Jones Lang LaSalle has acquired Credo Real Estate, a Singapore-based independent real estate advisory firm that specialises in collective sale, the firm said in a statement.

The acquisition is expected to double the size of Jones Lang LaSalle’s Singapore residential project sales team and will add a new specialist service, mortgage valuations.

Citing Credo as a clear market leader in the field, Jones Lang LaSalle said the firm had transacted close to S$930 million (US$743 million) in 2011.

When combined with Jones Lang LaSalle’s S$200 million (US$160 million) worth of collective sales, this would represent a market share of 35 percent in 2011 – worth around S$1.13 billion (US$903 billion).

“Bringing Credo into Jones Lang LaSalle meets our strategic goal of being the leader in investment sales in Singapore and strengthens our residential project sales and annuity valuation business,” said Chris Fossick, managing director of Jones Lang LaSalle Singapore and South East Asia.


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