Jones Lang LaSalle is gearing up for the launch of the JLL online marketing platform, which will be selling a number of assets.
New York Stock Exchange (NYSE)-listed real estate firm Jones Lang LaSalle (JLL) says it will introduce property for sale into the Kenyan market after the General Election.
“We are waiting until elections are done. Investors are keeping a cautious approach but as from September, a number of assets will be coming into the market from JLL,” Mark Phelan, director of investor services for sub-Saharan Africa said.
“What you will see in the next two to three weeks is the launch of the JLL online marketing platform, which will be selling a number of assets from banks, corporates and individuals.”
Last week, JLL revealed that it midwifed the sale of Ecobank Kenya’s head office in Nairobi last year. The building was not, however, owned by the trans-African bank which has since relocated its regional hub from the CBD to Westlands.
JLL entered the Kenyan market in 2015.
In 2016, JLL had global revenue of $6.8 billion (Sh700 trillion), fee revenue of $5.8 billion (Sh597 trillion) and, on behalf of clients, managed 4.4 billion square feet. It completed sales acquisitions and finance transactions of about $136 billion (Sh14 trillion).
