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SYDNEY, 4 FEBRUARY 2009 – The revenue of Jones Lang LaSalle’s Australian business maintained its strength in 2008, in line with the last two years of record growth.
Australian CEO, Christine Bartlett said this was a solid result for the Australian business in a challenging property market where transactions were down by 63% in 2008.
“To achieve these results in a tight property market is a great achievement for everyone at Jones Lang LaSalle in Australia.
“The strength of our results for 2008 reflect our balanced portfolio, with over 55% of our business in Australia annuity based.
“We have increased year on year growth in a large percentage of the Australian portfolio and our client base, with clients increasing their demand for specialist expertise and quality advice in a dynamic and challenging commercial property market.
“In particular, the Property and Facilities Management business significantly exceeded expectations for 2008, winning a number of new appointments for the firm. Other areas that experienced year on year growth included Research & Consulting, Advisory Services, Corporate Solutions, Tenant Representation and Project and Development Services,” Ms Bartlett said.
Highlights for the Australian business in Q4, 2008 included:
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