Sallmanns brings 20 years of experience in the valuation area in Asia and have undertaken over 50% of all Hong Kong IPO valuations in market capitalization terms over recent years. Since 2006, the capital value of IPO’s they have handled has been in excess of US$40 billion.

Paul Brown, BSc FRICS, FHKIS, formerly the Managing Partner of Sallmanns, will be the Chief Executive Officer of Jones Lang LaSalle Sallmanns. The senior management committee will be comprised of former executive directors of Sallmanns Sylvia Lau, Sue Chen and Simon Chan as well as Chun Kong (CK) Lau, Head of Valuations in Asia for Jones Lang LaSalle.

“With this merger, we can leverage this deep expertise in IPO, M&A and Financial Valuation services in Greater China and more broadly across Asia Pacific,” noted Peter Barge, CEO Jones Lang LaSalle, Asia Pacific. An extensive and detailed strategic analysis consistently reinforced the need for a specialist valuation business in the IPO, M&A and Financial Valuation areas. “The two Firms share similar values and have deep roots in the real estate services industry in Asia Pacific. It is a solid cultural fit and the merger will significantly strengthen our value to clients in Greater China and across the region.”

  Transaction Highlights:

• Growing demand for specialist financial valuation services (includes M&A and IPO) in the region fueled by the listing of Chinese enterprises and adoption of international accounting standards
  
  
• Jones Lang LaSalle’s 50 years of experience in the real estate valuation sector in Asia Pacific combined with a specialist unit focused on Financial Valuations will enhance and broaden the range of services to clients in the region
  
  
• Sallmanns blue chip client base will benefit from access to a broader range of integrated real estate services especially as the clients expand outside of China and grow their China real estate portfolios

“We can enhance our value proposition to our clients by providing them with a broader range of real estate services as they expand their businesses,” noted Brown. “Our dedicated team of valuation specialists will have access to the latest technology and global best practice in real estate. The real estate service provider universe is consolidating as the global brands strengthen their position and we wanted to link with the firm we regarded as the most diversified and professional within the Asia Pacific region,” highlighted Brown.

“This merger allows Jones Lang LaSalle Sallmanns to be ideally positioned to seize the opportunities with fast expanding corporates in Greater China and shifting interest of investors,” noted Barge. “We see a growing demand for integrated real estate services given the increase in M&A and IPO activity in this region.” 

“Acquisitions and mergers such as this one will continue to boost our growth strategy for the Firm,” noted Barge. In 2007, Jones Lang LaSalle in Asia Pacific grew revenues by 79% to USD602 million and increased operating income to USD70.2 million, up 277%. The firm has orchestrated 15 significant M&As globally since 2006. Prominent amongst them include Spaulding and Slye in the US, Trammell Crow Meghraj in India and RSP group in Dubai.

Sallmanns, formally an equity partnership, was established in Asia in 1988. It has a strong presence in China and Hong Kong with 160 staff spread across seven offices including Beijing, Shanghai, Guangzhou and Shenzhen. Their clients include some of China’s largest corporations including ICBC, Sinopec, China Railway Construction, China Railways, China Life and Beijing Airport Authority.

“Our goals are to provide clients with the pre-eminent IPO, M&A and Financial Valuations services in the region, offer career and wealth creation opportunities for our staff and provide our existing clients with a broader range of integrated real estate services,” concluded Brown.

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE: JLL), the only real estate money management and services firm named to Forbes magazine’s “400 Best Big Companies” for three consecutive years, has approximately 170 offices worldwide and operates in more than 700 cities in over 60 countries. With 2007 revenue of USD2.7 billion, the company provides comprehensive integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients. Jones Lang LaSalle is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.2 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse real estate money management firms, with approximately USD49.7 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 15,000 employees operating in more than 70 offices in 13 countries across the region. 

The Little Book of Real Estate Definitions - Asia Pacific by Jones Lang LaSalle is a useful resource to gain a better understanding of the most commonly used real estate terms in the region. To enhance your knowledge, please visit www.joneslanglasalle-dictionary.com.

About Sallmanns

Sallmanns (Far East) Ltd. is a professional firm of chartered surveyors specializing in the integrated valuation of land, buildings, plant & machinery, and intangible assets.

Since its establishment in Hong Kong, Sallmanns involvement in the valuation field, particularly in the PRC, has been of significant proportion. The company has a stated intention to fill a niche in the marketplace of total asset valuation, which was not sufficiently provided in the market. The company is able to value the total tangible assets of a number of business enterprises ranging from light manufacturing to heavy industrial processes. Additionally, where appropriate, it is able to value intangible assets such as trademarks, patents, and businesses as a whole.

In 1994 Sallmanns became the first firm of chartered surveyors and external valuers to be formally permitted by the PRC Government to open an office in Beijing, following its appointment as valuer to the first PRC company to be listed on the Hong Kong Stock Exchange, Tsingtao Brewery. Additionally it now has further offices in Shanghai, Shenzhen and Guangzhou.