JLL buys 20% stake in PropNex's project marketing arm
Published on Aug 5, 2014 3:22 PM
SINGAPORE - Property consultancy JLL has bought a 20 per cent stake in PropNex International, the project marketing arm of Singapore real estate firm PropNex.
The two companies announced the move in a joint press release on Tuesday but did not disclose the investment amount.
JLL has been making a number of acquisitions in recent years, buying up Property Edge, which focuses on high-end project sales; DST International, which specialises in international sales; Credo Real Estate, an expert in collective sales and valuation; and Halcyon Real Estate, which does mainly residential leasing.
JLL's head of Singapore and South-east Asia Chris Fossick said the acquisition of the PropNex International stake "addresses the missing link in JLL's residential business - sales of new mass market homes".
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