Jones Lang LaSalle has acquired Indonesian property firm Procon, forming the largest real estate services company in Indonesia.
The combined business, in which Procon will become a part of JLL, will have more than 300 staff and continue to house its headquarters in Jakarta, with additional offices in Bali and Surabaya. Integration of the business lines and rebranding will begin immediately.
Jones Lang LaSalle came together with PT Procon Indah in 1980 to form the first international property consultancy firm in Indonesia, before going their separate ways in 2001.
The business will be run by Todd Lauchlan, while Lucy Rumantir, formerly chief executive at Procon, will become chairman. Both JLL’s and Procon’s senior management will hold leadership positions in the company, and all employees will integrate into similar roles within the combined organisation.
Chris Fossick, managing director for Jones Lang LaSalle South East Asia, said: “The two firms share similar values and have deep roots in the real estate services industry in Asia Pacific. It is a solid cultural fit and the synergy will significantly strengthen our value to clients in Indonesia and across the region.”
james.buckley@estatesgazette.com
