JLLʼs tenant representation division market leader again
JLLʼs tenant representation division closed 2017 with what the company described as an "outstanding" result of 67,410 sqm total transacted volume, securing a 44% market share. It said this again made JLL market leader, according to Budapest Research Forum figures.
The 2017 results cover both local and corporate clients. The companyʼs market leading position was due to several major transactions, one of them especially prominent and unique for Budapest, given its planned height. "In its scale (50,000 sqm), this assignment proved to be the second largest tenant representation deal of all time in the Hungarian market," JLL said in a press sent to the Budapest Business Journal.
"During the past ten years since JLL first introduced independent tenant representation services to the market in Hungary, JLL has become an expert service provider in serving companies with large size office needs. This introduction stemmed from the recognition that it is almost impossible for these companies to look and analyze the office market without the involvement of professionals," the company said.
Dr. Péter Würsching, head of leasing at JLL said: "2018 seems to be fulfilling our expectations already in January. The deals which are currently under negotiation will represent nearly 50,000 sqm of office space in the Budapest market, which we anticipate to be closed during summer. We are proud of our successful year in 2017 and also to the fact that we have managed to preserve our market leading status in tenant representation."
Since JLL introduced its tenant representation in 2007, it says it has carried out nearly 500,000 sqm transactions. The first four biggest office tenant representation transactions are related to JLL. The company says its key references include Ericsson, ING headquarters, EY, K&H, Microsoft, PwC and SAP headquarters, which occupy office spaces of between 5,000 and 35,000 sqm.
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