TWO companies that specialise in selling Australian property to Asian investors have formed a joint venture to set up a regional real estate hub in Singapore. MLG Realty Australia and Singapore-based JL Property Group will merge their portfolios to offer investors a wider range of options. The Singapore hub will support branch offices in Kuala Lumpur and Jakarta. It will be backed up by MLG's offices in Brisbane, Perth, Sydney and Melbourne. 'This will give regional investors easy access to experienced sales consultants and provide financial and legal services to make investing in Australia transparent and compliant with local as well as Australian requirements,' the partners said.
MLG represents some of Australia's biggest developers and has sold over 2,000 properties worth over A$1 billion (S$996 million) in recent years. JL Property has been a consultant and adviser to investors in Singapore and Indonesia. It sold more than 250 properties worth a total of over A$100 million last year. MLG managing director Marcus Gilmore said having a hub in Singapore will be reassuring as investors can make direct contact with developers through the office here. JL Property managing director Johan Luhur said: 'We have been looking for some time to expand our capabilities and services.'
Source: Business Times - 14 Feb 2009