Interview: Jones Lang sees Asia contributing higher revenue

Reuters    Translate This Article
9 November 2009

MUMBAI (Reuters) - Real estate services firm Jones Lang LaSalle sees its Asian business driving growth next year as the region powers a global economic recovery, a top official said on Monday.

The company expects Asia to contribute almost a third of revenues in 2010 from a quarter in 2008 on the back of rising demand in China and India, and as key markets such as Hong Kong and Australia start to show recovery.

'It seems Asia is recovering more quickly than the U.S. or Europe and actually will be one of the drivers of the world recovering,' Jones Lang's chief financial officer, Lauralee Martin, told Reuters in an interview.

'It's growing on both revenue and profit basis. It could reach a third of our revenues as we get into next year,' Martin, who was on a short visit to Mumbai, said.

Last month, the Chicago-based company, one of the world's largest property services firms, reported third quarter income rose a third, but said revenue fell 12 percent to $595 million as the global real estate downturn weighed.

(Reporting by Prashant Mehra; Editing by Ranjit Gangadharan)

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