The FINANCIAL -- JLL has acquired the Berlin-based real estate company Zabel Property AG which specialises in advising international customers on the purchase of high-quality residential properties in Germany´s Metropolitan cities.
Zabel Property AG brings new capabilities to JLL's established business offering in Germany and while focused in Berlin, Zabel's business model provides the right opportunity to roll out further residential services in other key German cities over time.
This selective acquisition complements JLL's strategic expansion of the firm's residential business by investing in key markets that are demonstrating strong growth potential across EMEA.
The sustained demand from overseas investors is an important driver for expansion in this market and as we expect this momentum to build, demonstrating strong commitment to this market at this time is vital. Zabel Property is the market leader in providing a tailored full service consultation for international buyers in Germany, according to JLL.
Guy Grainger, EMEA CEO at JLL comments: "Through this acquisition, JLL is continuing to implement a planned growth strategy within selected business segments which we believe hold considerable promise for the future. Residential property has come to represent a very promising growth area for us, primarily because of the trend towards urbanisation that is evident in Germany as well as globally, and this acquisition boosts our already successful residential offering in the UK."
Andrew Frost, Head of EMEA Residential added: "The services of JLL and Zabel complement each other perfectly and this acquisition further strengthens our goal for strategic expansion of this business line across Europe. Together we can support and market residential real estate projects from start to finish, securing the land for the development through to the sale of individual units which in turn enables us to offer a "one-stop shop" for all services to developers and portfolio owners. In the United Kingdom, we have successfully implemented this business model over a number of years and we strongly believe that excellent market opportunities also exist in Germany. This acquisition enhances one of the most successful international platforms for selling residential property, leveraging our already established business in this market."
Thomas Zabel, CEO of Zabel Property AG said: "JLL is by far the leading real estate consultancy in Germany. Zabel now has the opportunity to become part of JLL's success story and benefit enormously from the global positioning of the company. This expansion will allow us to open German desks worldwide, providing clients consultation on German properties on the ground in their home countries." He added: "JLL's leading role and market penetration will allow Zabel to expand to other locations in Germany and continue to develop its successful business model.