Anuj Puri will be running JLLR as an independent company
International property consultancy JLL is selling its India residential brokerage arm to former India head Anuj Puri. Puri, who left the firm on 28 February, has worked closely with the JLL India and Asia Pacific leadership teams to complete the acquisition of Jones Lang LaSalle Residential Private Ltd (JLLR) and will now lead an independent company with 200 residential brokers across eight Indian cities.
“With his impeccable track record in Indian real estate and his passion for the residential sector, Anuj is the best person to continue to build this business and we wish him every success in his future endeavours,” says Ramesh Nair, CEO & Country Head, JLL India. He added that, “For JLL, it is a strategic move that will allow us to focus on new growth areas for our India business and continue to offer best-in-class real estate advice and services to our clients.”
JLL is India’s largest real estate consulting firm with offices in 11 Indian cities and over 9,000 employees. While the residential brokerage arm will be under new ownership, the US-based company emphasised that it will continue to provide consulting, advisory, valuation, research, property management, project & development services and capital markets services for residential developers.
“JLL India has incubated the residential brokerage division over several years. Anuj has shaped it with his trademark passion and expertise and I’m sure its success will continue,” says Anthony Couse, CEO, JLL Asia Pacific. “Now, as we look ahead and continue to grow JLL’s India business, we know that our clients – both domestic and multinational – are looking to us to help them navigate opportunities in this exciting phase in India’s economic development. I’m confident that we have the right team and structure in place to deliver on our ambitious growth plans.”
“This is a great outcome for all parties,” says Anuj Puri, who will lead the new organisation as Chairman of Jones Lang LaSalle Residential (JLLR). “After 10 incredible years with JLL, it’s now time to build something new and I’m very much looking forward to focusing on the exciting opportunities in India’s residential sector. Initially, the business will retain the existing brand name, JLLR, operating through its unique business model of online property marketing coupled with complete offline brokerage support. Going forward, it will be renamed to reflect the new ownership structure.”
Ashwinder Raj Singh will continue in his role as CEO of JLLR, reporting to Mr Puri.
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