Sydney-based UGL said on Tuesday that its property services business, comprising UGL Services and DTZ, will be united under a single global brand.
Sydney-based UGL said on Tuesday that its property services business, comprising UGL Services and DTZ, will be united under a single global brand.
'From today, our property services business will be recognised globally as DTZ,' said UGL's managing director and CEO Richard Leupen. 'Retaining the DTZ name acknowledges the brand equity of DTZ, an iconic brand in property services with a legacy extending back to 1784, and capitalises on the broad market recognition of the specialist capabilities of DTZ.'
The new single brand reflects the creation of a fully integrated, global company, he added.
The rebranding of UGL's property services business will result in a one-off charge during the 2013 financial year of around $37 mln.
Since 5 December 2011, when UGL acquired the trading operations of global real estate services company DTZ Holdings, the two companies have cobranded as UGL Services and DTZ.
DTZ will continue to be headquartered in Los Angeles, US under the leadership of Robert Shibuya, Group President, Property.
