Housing News
- New lease of life for land group
Date: 14-Feb-2007 Sources: (Xinhua Online)
Jones Lang LaSalle, a global property service provider, announced Tuesday that it will gradually phase out of general leasing and sales in the individual residential property sector of China.
The firm described the move as a realignment for its mainland operations. However, the company said it will continue to offer market insights, key corporate account services and property management services in the sector.
The decision was made after a thorough assessment of key real estate sectors last year.
The call, made early this year, is in line with Jones Lang LaSalle's strategy to focus its resources on businesses that offer opportunities to leverage its competitive advantage.
The company has offered options to about 30 affected team members in Shanghai and so far 70 percent have either decided to transfer to other departments or join its clients.
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