In news from South Africa, Jones Lang LaSalle just announced the acquisition of South Africa's Bradford McCormack & Associates. BMA, a corporate property service provider, will now become Jones Lang LaSalle South Africa accordingly. The move is said to be an opening of doors for the company's country wide expansion across SA.
Jones Lang LaSalle is one of the world's leading commercial real estate advisment firms. Just recently, the company opened one office in Cairo and another in Casablanca, Morocco. The company's expansion into SA brings the collective expertise of some 40,000 people in 185 corporate offices to bear on the industry in SA now.
The company has some $41 billion in assets under management. Jones Lang LaSalle head of corporate solutions for Europe, the Middle East and Africa, Vincent Lottefier (seen below with BMA Founder Mark Bradford), has this to add about the SA opening:
"We respect Africa and we take it seriously, and I think this is the beginning of a wonderful story for the continent. We have chosen SA because we believe in this country's growth story."
As for BMA, the company was established back in 1990 and has a client base which includes ABSA (a subsidiary of Barclays), Nestlé, the Johannesburg Stock Exchange, Miele SA and any number of South African government entities. The CEO of Jones Lang LaSalle EMEA, Christian Ulbrich, added; "the acquisition represents one of the largest international investments in the local property services sector to date."
With Asia investment in Sub-Saharan Africa on the rise, opportunities in SA in particular provide some of the incentive for this and other real estate giants to pursue SA expansion. Jones Lang LaSalle has clients in China and India who have real or potential interests around the globe, and in SA particularly. It makes sense too, that SA is an expansion hub for all of Sub-Sahara Africa - as a base of operations especially.
BMA offers services such as office and industrial leasing, capital markets, tenant representation, lease structuring and administration, strategic consulting and asset management, among the many others. Marrakech, Cairo, Johannesburg, Jones Lang LaSalle moving across the landscape has many indications, perhaps the most positive being growth.