JLL has decided to enter the residential market. With the acquisition of REAS, JLL will become the first advisory firm to operate on all segments of the real estate business in Poland. Working within the structures of JLL, REAS will be responsible for developing Living Services in both Poland, and Central & Eastern Europe.
The strategic importance of the residential segment
So far, the two segments of the real estate market – commercial and residential – have been functioning in parallel. However, the activity of international developer groups and investment funds on the residential market in Poland has been on the increase for a number of years. Importantly, investors that have been primarily focused on the commercial real estate market, are now analyzing the potential and opportunities offered by the residential sector. Apartments are becoming fully fledged investment products and more frequently complement commercial real estate portfolios.
“Working closely with REAS will allow JLL to have competence in all areas of the real estate market, in which the residential segment plays a key role. Recently, Poland’s residential sector has seen the development of commercial opportunities, including apartments for rent and dorms, which have begun to attract the interest of institutional capital. JLL’s decision to expand its expertise in this area is in response to market trends and the business needs of our clients”, says Tomasz Trzósło, Managing Director, JLL Poland.
JLL – a pioneer on the real estate consultancy market
As a pioneer in the real estate consultancy market, JLL is accustomed to leading the field into new sectors. This is the case in the company’s foray into the residential sector and its plan to increase its activity in this market segment worldwide. The knowledge and experience that REAS, as the leader in residential consultancy in Poland, will bring to JLL, will undoubtedly contribute to the development of these services throughout Central and Eastern Europe. JLL is the first company on the Polish market to handle all sectors of the real estate business.
“We recognize the strong synergy between our commercial know-how and the consultancy practices of REAS” – comments Tomasz Trzósło – “JLL will have a very sound team and the best experts from the Polish residential market. REAS offers an excellent research and analysis department, developer consultancy of the utmost quality, professional valuation as well as some of the most reputable experts in transactional consultancy on the residential market. As a result, we will expand JLL’s portfolio with the highest quality of services available on the residential market”.
“We are very much looking forward to the possibility of co-creating and implementing a strategy that is aimed at increasing JLL’s presence in the residential sector. The aim of REAS is to further develop, and deepen its 10-year co-operation with JLL. Operating within the structures of a large global partner enables us to accelerate the expansion in the scope of services not available thus far in Poland as well as the possibility to develop on international markets”, comments Kazimierz Kirejczyk, President of the Board, REAS.
“As part of JLL Living Services, we will provide the market with a wider range of services at all stages of the investment process. However, rest assured, our existing customers will continue to receive “the peace of mind” that cooperation with REAS’ well-known and proven team brings. Calling upon both its European and global experience, JLL will also support investors in developing market segments, such as co-living, dorms and the construction of retirement homes. By combining our forces with JLL, we will expand our contacts with international business partners, and in so doing, provide our clients with access to global capital markets”, comments Paweł Sztejter, Vice President of the Board, REAS.
The entire REAS team will continue its activities within the structures of JLL in Poland, under the brand name REAS | JLL Residential Advisory. The founders of REAS will take up senior positions in JLL in Poland: Kazimierz Kirejczyk will act as Vice President of the Board at JLL Poland, while Paweł Sztejter will serve as the executive director responsible for managing the REAS team and the JLL Living Services.
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