JLL Technologies tasked with proptech acceleration
Global real estate services firm Jones Lang LaSalle (JLL) announced the formation of JLL Technologies, a new business division created with the aim of accelerating innovation in commercial real estate, JLL said in a release.
The firm said that Mihir Shah and Yishai Lerner, who have led JLL Spark since 2017, have been named to oversee JLL Technologies and will join the company’s Global Executive Board.
Christian Ulbrich, JLL CEO, said. “Mihir and Yishai bring a growth mindset to JLL Technologies. Under their leadership, JLL is positioned to be a global leader in real estate technology.”
JLL Spark was created to accelerate the adoption of technology in commercial real estate. The $100 million global venture fund has invested in 14 proptech startups around the globe to date. JLL Spark will now become part of JLL Technologies, along with the teams that create digital products and services for the company and its clients.
“We are leveraging technology to increase the value and liquidity of the world’s buildings while enhancing the happiness and productivity of those who occupy them,” said Shah, Co-CEO at JLL Technologies. “We look forward to adding new talent, technology products and partnerships in the months ahead.”
JLL’s technology portfolio also includes advisory solutions like Utilization Intelligence which helps clients better leverage their real estate footprints, and products like Corrigo, a cloud-based facility management platform.
“Taking a data-driven, technology-first approach is key to building value for our clients and shareholders, and, with the rise of technologies like machine learning, artificial intelligence, IoT and software automation, there is enormous opportunity to achieve better outcomes,” said Lerner, Co-CEO at JLL Technologies. “Some truly breakthrough research, innovative product development and cutting-edge consulting is happening across JLL. By aligning efforts and leveraging the best from the ecosystem, we can have an even greater impact.”
In July, JLL has launched a new digital service, dubbed FacilitiesFlex, which has the main goal of transforming how businesses manage their buildings and real estate assets.
Combining JLL?s technology with the company?s facilities management expertise,?FacilitiesFlex?will enable businesses to manage budgets more efficiently, mitigate risk and unlock productivity.
FacilitiesFlex is hosted on JLL?s Corrigo technology system and is available across Europe, Middle East and Africa in 11 languages across 70 countries, the company said.