Real estate giant JLL reports record revenue for fourth quarter
Real estate giant JLL has reported record revenue and fee revenue for the fourth quarter.
In results published on Monday, the Chicago-based firm reported record revenue of $5.9bn and fee revenue of $2.8bn for the quarter.
Revenue shot up 23 per cent while fee revenue jumped 42 per cent.
The real estate and investment management firm also posted $19.4bn and $8.1bn in revenue and fee revenue for the full year.
Broad-based real estate services fee revenue growth was led by leasing and capital markets, up 68 per cent and 62 per cent, respectively.
Christian Ulbrich, JLL CEO, said: “JLL delivered impressive fourth-quarter and full-year 2021 financial results, led by strength in leasing and capital markets, as well as valuation increases on our strategic technology investments.
“The broad capabilities of our fully integrated global platform are resonating with clients, driving strong top and bottom line results and significant free cash flow generation.”
The firm had made “incremental investments” during the past year in order to “drive future growth and also increased capital returns to shareholders,” Ulbrich said.
He added: “As we enter 2022, JLL is well-positioned to seize the significant opportunities across the commercial real estate sector and continue to generate long-term value for stakeholders.”
The news follows the property titan selecting 1 Broadgate as its new HQ, which it described in April 2021 as “vote of confidence in London”.
The firm agreed a lease for 134,000 sq ft for 15 years, representing nearly 30 per cent of the office space. It will move in following the building’s completion in 2025.