JLL (NYSE: JLL) has today confirmed the acquisition of the international residential project sales business of Henry Butcher, a leading Malaysian-based real estate advisory firm. The 13-strong team, headed by Jazmine Goh is widely recognised as one of the leaders in sales of overseas residential properties to Malaysian investors.
The Henry Butcher team joins JLL’s international residential sales team. Based in London, Dubai, Singapore, Hong Kong, Shanghai, Beijing, Tokyo, Sydney and Melbourne, the team provides best-in-class services to developer clients and offers investors access to the highest quality opportunities globally.
Chris Fossick, Head of Southeast Asia at JLL said: “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.”
He continued: “Jazmine and her team were the obvious international residential expert for JLL to team up with in Malaysia. We have already been working in close cooperation with Henry Butcher for several years and are delighted that the team is joining JLL. 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.”
Jazmine Goh said: “My team and I are excited to be joining JLL, having built a strong and successful relationship with the firm over the past six years, in particular with the team in London. I believe that our combined capability will further enhance the scale and depth of expertise we can offer to our clients. Joining JLL means that we will be able to provide our clients with access to more global investment locations, as well as provide them with market leading intelligence. This is the beginning of a wonderful and exciting chapter and we look forward to sharing it with all our clients.”
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.
The Henry Butcher team joins the 17-strong JLL Malaysian business, headed by Country Head YY Lau, and will be moving into to JLL’s new offices in the KL Sentral area.
* in 2011 JLL bought DTS Internal which focused on international residential sales to Singapore investors. Earlier in 2014, JLL acquired 20% stake in Propnex International.