Global strategic priorities

To continue to create ongoing value for our clients, shareholders, and employees, both from current and longer-term perspectives, we have identified consistent global strategic priorities. For example, we successfully expanded the cross-border brokerage of high-end residential properties in London with the 2011 King Sturge merger, followed by the acquisition of W.A. Ellis during 2014 and Guardian in Dublin in 2015. We have expanded the Tetris-branded fit-out business we originally acquired in France and have been introducing it into other countries, including through acquisitions in Portugal in 2014 and in Poland, Germany, and the United Kingdom in 2015. In 2015, we enhanced our service offering for facility management clients by acquiring a cloud-based technology platform called Corrigo. In 2016, we acquired Integral, a mobile engineering business in the United Kingdom that significantly expanded our facilities management business, along with a valuations platform we acquired in the United States, where historically we did not provide these services.

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We regularly re-evaluate our strategic priorities to optimize JLL's sustainable and profitable long-term growth and on-going value creation for all our stakeholders. Our 'Beyond' vision and priorities for strategic growth are built upon our closely integrated platform which combines deep local market knowledge with seamless global advice and service provision, tailored according to each client’s specific needs. These closely integrated local and global capabilities can be summarized as:

Comprehensive Local and Regional Service Operations
Our strength in local and regional markets contributes to the strength of our global service capabilities. Our financial performance also depends, in great part, on the business we source and execute locally from our nearly 300 wholly-owned offices around the world. We continually seek to leverage our established business presence in the world's principal real estate markets to provide expanded and adjacent local and regional services without a proportionate increase in infrastructure costs. We believe these capabilities will continue to fuel our competitive advantage and make us more attractive to current and prospective clients, as well as to revenue-generating employees such as brokers and client relationship managers.

Metrics: During 2016, we completed approximately 38,800 transactions for landlord and tenant clients, a 9% increase over 2015, representing 828 million square feet of space.

Global Corporate Solutions
The accelerating trends of globalization, cost cutting, energy management and the outsourcing of real estate services by corporate occupiers support our decision to emphasize a truly global Corporate Solutions business that serves the comprehensive needs of corporate clients. This service delivery capability helps us create new client relationships, particularly as companies turn to outsourcing their real estate as a way to manage expenses and to implement sustainable practices. These services have proved to be counter-cyclical, as we have seen demand for them strengthen when the economy has weakened.

Metrics: During 2016, we provided corporate facility management services for 1.4 billion square feet of clients' real estate, an 8% increase from 2015. Over the same period, JLL had 150 new business wins, 68 expansions of existing relationships and 31 contract renewals.

Real Estate Capital Markets
JLL is a world-leader in advising on real estate investment capital flows and placement. Our focus on further developing our ability to provide global capital markets services reflects the increasingly international nature of cross-border money flows into real estate and the global marketing of real estate assets. Our real estate investment banking capability helps provide capital and other financial solutions by which our clients can maximize the value of their real estate.

Metrics: During 2016, we provided capital markets services for $136 billion of client transactions, a 1% decrease from 2015, where the market was down 6% over the same period.

LaSalle Investment Management
With its integrated global platform, LaSalle is well-positioned to serve institutional investors looking for attractive real estate investment opportunities around the globe. LaSalle also continues to develop its ability to serve individual retail investors, particularly in the U.S. and Japan. LaSalle develops and implements strategies based on a thorough understanding of investor objectives and knowledge of local market risks and rewards. We intend to continue to maintain strong offerings in core products to meet the demand from clients who seek lower risk investments in the most stable and mature real estate markets. In addition, we continue to strengthen our capabilities in value-add, opportunistic and debt strategies to meet the diverse range of our clients' objectives.

Metrics: At the end of 2016, LaSalle had assets under management of $60.1 billion, an increase of 7% over 2015, with $5.1 billion of net capital raised.

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