This is the largest facility management contract awarded to a single provider on a global basis by a financial services firm, according to HSBC.
The practice of outsourcing non-core real estate functions to dedicated third-party experts has increased in recent years as service providers have attempted to expand their abilities to deliver consistent services across broader geographies and corporations have better understood the productivity benefits of outsourcing, according to Jones Lang LaSalle.
Under the terms of the deal, HSBC will outsource facility management services worldwide across its 11,000-site portfolio throughout North America, Latin America, Asia Pacific, Europe, Middle East and Africa.
“Jones Lang LaSalle and HSBC are committed to introducing innovative solutions that advance the performance of real estate as a driver of measurable business improvements. Our global team is focused on improving the productivity of HSBC’s real estate through operational efficiency across its global workplaces,” said Colin Dyer, president and CEO, of Jones Lang LaSalle.
Jones Lang LaSalle has been a real estate advisor to HSBC in North America since 1998. The new contract adds more than 42 million square feet of real estate worldwide to Jones Lang LaSalle’s responsibilities, and renews existing facility management services in North America, China, Thailand, Mexico and Panama. Jones Lang LaSalle also acts as one of HSBC’s regional transaction partners, serving its Asia Pacific, Latin America and Middle East-North Africa regions.
“As companies demand more consistency and control over their real estate facilities, they increasingly look for a single provider that can deliver on a global basis,” said Jordi Martin, managing director of Integrated Facilities Management at Jones Lang LaSalle.
