Global real estate services company Jones Lang LaSalle is in talks with a shopping centre management firm to establish a 50-50 joint venture in China, a senior company executive said on Wednesday. Managing Director David Hand said the company "is looking at doing a merger -- a joint venture with an overseas expert in shopping centre management" to strengthen its hand in a market where the world's top retail brands are swarming in.
f everything goes smoothly, "by the end of the year, we will be able to announce it," he told reporters.
Hand, who is also head of Jones Lang LaSalle's China retail division, did not name the prospective partner.
He said the deal would make JLL the largest shopping centre management company in China and in Asia as well.
More at Reuters.