JLL has acquired Singapore-based interior design firm PDM International as the property consultancy seeks to expand its design, construction and fit-out capabilities in Asia.
The acquisition is part of a consolidation wave in the global real estate services industry and should allow JLL, which has been best known for its brokerage teams, to broaden its range of services in an increasingly important Asian market.
“PDM’s expertise in design and construction is an ideal complement to our existing project management and construction management capabilities,” says Jordi Martin, CEO, Corporate Solutions Asia Pacific at JLL. “This acquisition will enable JLL to deliver end-to-end, multi-disciplinary fit-out solutions across the region.”
Deal Gives JLL 180 New Team Members in Nine Offices
A 20-year-old interior design practice with nine offices across Asia, including three locations in mainland China, PDM has designed and built offices for major multinationals including WPP, KPMG, UBS and Microsoft. The deal for the 180-person firm is part of a wave of more than 40 JLL acquisitions totalling approximately $1.2 billion since the beginning of 2015, according to an announcement by the real estate firm.
“Our expertise and geographic footprint as a company is a great fit with what JLL already offers and we are looking forward to working together to expand the business across Asia Pacific,” said Marcus Foley, co-founder of PDM International.
With the addition of PDM, JLL will be able to provide design and construct services in 19 cities, with the addition of Beijing, Shanghai, Bangkok, Kuala Lumpur and Seoul, and continue to provide project management in 27 cities across Asia Pacific.
Following the acquisition, Foley and PDM co-founder Dennis Lim will report to JLL’s Asia Pacific COO as well as to Jordi Martin.
PDM services that will be incorporated into the JLL business include building analysis, feasibility studies, space planning, project brief development, concept design, 3D renderings and animations, sustainable design development, construction documentation, furniture and storage evaluation, construction and site management, FFE (Furniture, Fixtures and Equipment) specification, procurement and turnkey construction solutions.