Singapore, 19th May 2011 – Jones Lang LaSalle has appointed Martin Hinge as Managing Director for its Project and Development Services (PDS) business in Asia Pacific. The PDS business undertook 904 assignments totalling over 52.4 million sq ft in 2010 alone.
Mr Hinge who has worked with the firm for ten years in the Philippines, Greater China, Australia, India and Singapore comments, “Our diverse client base of occupiers and investors reaching across all Asian markets provide us with a strong platform to continue to grow our PDS business across new sectors, services and geographies across the region”.
Jones Lang LaSalle’s recent Global Corporate Real Estate Survey 2011 showed that 60% of companies expect to expand their real estate portfolios in North Asia, primarily China.
“Development activity, which slowed during the Global Financial Crisis, has now picked up in Asia, with an additional 40 per cent supply coming on the market this year alone compared to 2010. We expect this to translate into increased demand for project management services in the region,” adds Mr Hinge.
Mr Hinge succeeds Albert Ovidi, who earlier this year assumed the role of Chief Operating Officer, Asia Pacific. As COO, Mr Ovidi will work closely with Jones Lang LaSalle’s Asia Pacific CEO, Alastair Hughes to execute the firm’s growth strategies, as well as provide strategic leadership to both the PDS and Property and Asset Management (PAM) businesses.Mr Ovidi comments “Martin’s elevation to the MD position for PDS is testament to his contributions to the business and the firm. Based on the recovery in capital spending across Asia Pacific and the strong economic outlook, we have an aggressive growth plan in place for PDS in 2011.”