SINGAPORE: International real estate firm JLL has acquired Malaysian property advisory firm Henry Butcher’s international residential project sales business, JLL said in a statement today.
The business is run by a 13-person team headed by Jazmine Goh which will join JLL's network of international residential sales teams based in London, Dubai, Singapore, Hong Kong, Shanghai, Beijing, Tokyo, Sydney and Melbourne, in addition to strengthening the firm's Malaysian operations led by country head YY Lau.
“Our decision to strengthen our offering to Malaysian investors reflects the demand that we are seeing in the country. Investors in Malaysia are increasingly looking further afield for investment opportunities and we are able to offer exactly this kind of opportunity in a wide range of markets, from the ever popular and established London market to newer locations such as Tokyo, New York and Sydney,” said JLL head of Southeast Asia Chris Fossick.
“We pride ourselves in our global connectivity combined with on the ground, local knowledge and expertise and the Henry Butcher team is a great fit with JLL. We are also grateful to Henry Butcher for the many years of cooperation and a very smooth transition,” he added.
Meanwhile, Goh said the team will now be able to offer “more global investment locations and leading market intelligence” to investors.
“High levels of wealth and savings in Malaysia are driving investor interest in investment in overseas real estate, both in the residential and commercial sectors.”
“Malaysian investors have long been buyers of Singapore residential property, but as cooling measures in Singapore have taken hold over recent years and opportunities have opened up elsewhere, Malaysian investors have become increasingly interested in assets globally in locations such as the UK, Japan and Australia.”
“JLL expects this trend to continue, as wealth across Asia continues to increase, and investors become more comfortable investing overseas therefore seeking opportunities outside of their domestic markets.”