Strong EMEA activity led JLL’s growth in the past quarter, as the company reported a 14% rise in global revenue to $1.9bn.
Revenue from EMEA real estate services rose 22% to $635.2m and total fee revenue rose 23% to $463.6m – considerably more than in the Americas where revenue growth and fee revenue growth came to 3% and 5%, respectively.
Property and facility management was the biggest contributor to EMEA’s revenue growth, up 37% as a result of incremental fee revenue from JLL’s acquisition of property maintenance service Integral UK last August.
The firm said investment sales in the UK, Finland and Germany contributed to growth in its capital markets and hotels business, where revenues were up 23% to $107.3m.
While revenue growth in Asia Pacific was stronger than in EMEA at 25%, total fee revenue growth was lower, at 14%.
JLL said organic expansion contributed 70% of its global revenue growth in real estate services.
Chief executive Christian Ulbrich said: “Solid organic growth and strong cash flows from operations contributed to our third-quarter performance.
“Continued healthy markets, fundamental in the global economy and many real estate markets worldwide, provide a good foundation through the end of the year and into 2018.”
Meanwhile, LaSalle’s revenue grew 27% to $102.1m, which the company said was due to incentive fees earned on real estate dispositions on behalf of clients in Asia Pacific.
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