Global real estate consulting firm JLL (NYSE: JLL) has acquired JCL International, a Philippine company that provides project management and construction services.
News release
24 April 2018
JLL acquires JCL International, a leading project and construction management company in the Philippines
Established in 2002, JCL is located in Manila and has more than 40 employees, including architects, engineers, and construction personnel with local and international experience. Its team is led by senior partners John Morgan and Calum Swinnerton, who have both been involved in the construction industry for more than 30 years.
The company handles both domestic and international projects. Some of the projects include Citibank Plaza, Net Lima Building, Net Park Building, Raffles Hotel Suites and Residences & Fairmont Hotel in Manila, Philam Life Center in Cebu, and Barclays Capital in Singapore and Jakarta.
"With our complementary service offerings and shared commitment to client service excellence, this is an outstanding fit for both companies," says Anthony Couse, CEO, JLL Asia Pacific. "For JLL, the acquisition will significantly expand our existing project and construction platform, giving us the ability to offer our clients even more services."
"With JCL's specialist expertise and strong reputation, we will gain greater access to new corporate and investor clients in the country's core growth industries, specifically hospitality, industrial, data centre, retail, residential, healthcare and outsourcing. The acquisition will also strengthen our ability to support global and regional clients in the Philippines," he adds.
The Philippine economy continues to expand and, according to a recent World Bank report, will record growth in excess of six per cent per year until 2019 on the back of infrastructure programmes and a burgeoning Business Process Outsourcing (BPO) sector. With stable demand for office space, particularly from technology and professional services firms, the real estate and construction sectors continue to experience steady growth.
JCL services that will be incorporated into the JLL business include project management, construction management, cost and claims management, procurement management, design management, building audits and consultancy, energy management and audit, move management, management of testing and commissioning, and client management.
The company will operate as "JCL International – A part of the JLL network" during an initial transition phase. Both Morgan and Swinnertonwill report to Henning Badenhop, Managing Director, Project and Development Services, South East Asia, JLL.