IN the latest of a series of acquisitions, Jones Lang LaSalle (JLL) has acquired Halcyon Real Estate, a Singapore-based boutique real estate firm, for an undisclosed amount. The acquisition of the firm, known for its strength in residential project leasing, comes on the heels of JLL’s purchase of Credo Real Estate, a heavyweight in the collective sales market, in July last year.
JLL also acquired DST International Property Services, known for marketing international properties, in particular London properties to South-east Asian investors, in 2011, as part of a larger move to strengthen its residential footprint in South-east Asia.
The series of acquisitions is part of the firm’s overall strategy of growing the size of its business here, given that Singapore is a key gateway city in South-east Asia, said Chris Fossick, managing director of Jones Lang LaSalle Singapore and South-east Asia, yesterday.
“Also, as part of our strategy, we want to increase our presence in the residential sector,” said Mr Fossick. “Credo was a major player in residential collective land sales, so that was one investment we made, in trying to build up the amount of residential land sales through collective sales that we’re involved in.”