JLL set up a corporate treasury centre at GIFT City to centralise its global operations. The firm launched JLL Finance Services to manage liquidity and funding across many regions. "GIFT City's GRCTC model provides the perfect combination of regulatory sophistication and talent depth for our first Asia-Pacific treasury hub," said Radha Dhir.
Global real estate services firm JLL has established a corporate treasury centre at Gujarat International Finance Tec-City (GIFT City) to centralise its treasury operations and improve capital deployment across its global business.
The company has set up JLL Finance Services (IFSC) Private Limited, a wholly owned subsidiary of Jones Lang LaSalle Property Consultants (India) Private Limited, also known as JLL India, at the International Financial Services Centre (IFSC) in GIFT City.
The entity will operate as a Global Regional Corporate Treasury Centre (GRCTC).
The centre will oversee JLL's treasury operations across multiple jurisdictions, including the Americas, Europe, West Asia, Africa and Asia-Pacific.
It will also help streamline banking administration, funding and liquidity management under the regulatory oversight of the International Financial Services Centres Authority (IFSCA).
$800 million asset manager to shift 2 funds out of GIFT on tax issuespremium
Some AIFs in GIFT City get tax notices despite exemption, raising concernspremium
PSUs tap GIFT City for overseas mineral hunt amid critical supply pushpremium
Global feeder funds shut? Here's how to go global now
Citi, Credendo close $328 mn deal for eight IndiGo jets through GIFT City
"GIFT City's GRCTC model provides the perfect combination of regulatory sophistication and talent depth for our first Asia-Pacific treasury hub. India's highly skilled financial professionals, combined with the jurisdiction's internationally aligned framework and operational efficiencies, enable us to centralise funding operations, optimize capital deployment," said Radha Dhir, chief executive officer, India, JLL.
She added that the centre would help build sustainable treasury capabilities to support the company's global growth and diversification strategy.
The move is aimed at strengthening JLL's ability to manage liquidity and funding across regions while providing access to international capital markets.
"Establishing a presence in GIFT City reflects JLL's industry leading approach and commitment to building a best-in-class global treasury function. It gives us direct access to a deep and growing pool of international capital in one of the world's fastest growing economies," said Courtney Greenslade, global treasurer, JLL.
The centre will also improve the company's ability to manage regional funding requirements and strengthen its global treasury operations, Greenslade added.