JLL announces plans to strengthen its building operations and digital leasing capabilities

Rhea-AI Summary

JLL has announced plans to strengthen its building operations and digital leasing capabilities. The company will unify all building operation groups to better address client needs and adapt to changing industry dynamics. This restructuring aims to create greater synergy and enhance client value by aligning real estate management activities globally.

Additionally, JLL will accelerate the development of its digital leasing platform, investing in technology to support clients throughout the leasing lifecycle. Effective January 1, 2025, the Property Management business will be reported under Neil Murray, CEO of Work Dynamics. The Markets Advisory segment will be renamed Leasing Advisory. These changes are designed to improve operational efficiency and client service, with JLL committed to ensuring a smooth transition for all stakeholders.

Positive

• Unification of building operation groups to enhance synergy and client value
• Accelerated development of digital leasing platform to support clients throughout the leasing lifecycle
• Restructuring aimed at improving operational efficiency and client service

Negative

• None.

Delivering client outcomes by unifying similar capabilities and putting best-in-class intelligence into action

CHICAGO, Sept. 24, 2024 /PRNewswire/ -- JLL today announced it will bring together all building operation groups to address client needs and the changing dynamics of the real estate industry. 

"In addition to the benefits of operating and reporting similar service offerings together, we expect greater synergy and better client value by aligning real estate management activities globally," said Christian Ulbrich, President and Chief Executive Officer of JLL. "This is a prime example of our ongoing commitment to adapt to best serve our clients' evolving needs."

Additionally, JLL plans to accelerate the build-out of its digital leasing platform. "We're continuing to invest in our industry-leading platform and technology to support our clients at every stage of the leasing lifecycle, from transaction and lease management to workplace and portfolio analytics," commented Ulbrich. 

As a result of these changes, effective January 1, 2025, JLL will report the Property Management business under Neil Murray, CEO of Work Dynamics.  Going forward, the Markets Advisory segment will become Leasing Advisory. The composition of JLL's Global Executive Board is unchanged. 

JLL is committed to a smooth transition process for its clients, employees and partners.

About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500^® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.

Contact: Jesse Tron
Phone: +1 212 376 1215 
Email: jesse.tron@jll.com

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SOURCE JLL-IR

FAQ

What changes is JLL implementing to strengthen its building operations?

JLL is unifying all building operation groups to create greater synergy, enhance client value, and align real estate management activities globally. This restructuring aims to better address client needs and adapt to changing industry dynamics.

How is JLL enhancing its digital leasing capabilities?

JLL is accelerating the build-out of its digital leasing platform, investing in technology to support clients throughout the leasing lifecycle, from transaction and lease management to workplace and portfolio analytics.

When will JLL's organizational changes take effect?

The organizational changes, including reporting the Property Management business under Neil Murray and renaming the Markets Advisory segment to Leasing Advisory, will take effect on January 1, 2025.

How will JLL's restructuring impact its reporting structure?

Effective January 1, 2025, JLL will report the Property Management business under Neil Murray, CEO of Work Dynamics. The Markets Advisory segment will be renamed Leasing Advisory.