JLL's Brokerage Business and Margins Should Hold Up Better in 2024

Jones Lang LaSalle, or JLL, has benefited from the secular trends in the real estate services industry and has experienced explosive growth over the past decade as it recovered from the global financial crisis in 2007. The company has transformed itself into a more resilient cash flow generator throughout the business cycle by broadening the basket of services that it provides and capturing an increased wallet share of real estate spending. The firm is a leader in inter-regional transactions, and we believe that its recent efforts to further enhance cross-functional cooperation and improve connectivity across various geographical regions will drive new growth opportunities and ensure better service to its multinational clients.