Breakingviews - Capital Calls - JLL is late to China’s property services party [Reuters]
Jones Lang LaSalle Incorporated (JLL)
Last jones lang lasalle incorporated earnings: 2/11 07:30 am
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Source: Reuters
Breakingviews - Capital Calls - JLL is late to China’s property services party By Reuters Staff 2 Min Read HONG KONG (Reuters Breakingviews) - BETTER LATE THAN NEVER. Jones Lang LaSalle is late to a party. The $9 billion New York-listed company is weighing up a sale of its Chinese property management business for at least $500 million, per Bloomberg. But after a flurry of mainland property services listings in Hong Kong led by developers Evergrande and Sunac, valuations look inflated. On Friday, JPMorgan analysts cautioned short-term weakness and downgraded several firms, including China Overseas Property, with a target price 10% below market. For JLL, property management provides a steady stream of revenue but the business is less profitable than sales and leasing in the People’s Republic. Overall, property management accounted for 58% of the global company’s top line in 2020 and was one of the few segments to deliver growth last year. It presents an opportunity to unlock value. Eve
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News
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- China Tells Telecom Carriers to Phase Out Foreign Chips in Blow to Intel, AMD [Yahoo! Finance]Yahoo! Finance
- China's commercial property segment is seeing some bright spots amid a slump in the wider realty sector [MSNBC.com]MSNBC.com
- China's commercial property segment is seeing some bright spots amid a slump in the wider realty sector [CNBC]CNBC
JLL
Earnings
- 2/27/24 - Beat
JLL
Sec Filings
- 4/12/24 - Form ARS
- 4/12/24 - Form DEF
- 4/12/24 - Form DEFA14A
- JLL's page on the SEC website