Celebrating its 70th anniversary this month, the Prudential Investment Company of Australia Pty Ltd. (PICA Group) is Australia’s largest property services company.
With over 700 employees and 30 branch offices on the east coast of Australia, PICA Group is committed to building on its highly respected reputation within the country’s property and real estate sector.
Through its 15 subsidiary companies, PICA Group works closely with owners of residential, commercial, mixed-use properties, hotels and resorts to provide tailored services, financial management and industry advice.
PICA Group has been held as a joint venture for the last five years between Fexco, an Irish-based financial services company and Nippon Kanzai Co. Ltd., Japan’s leading property management and engineering services company.
“A five-year shareholder agreement between both companies was signed in 2013 and this year we extended the agreement for another five years until 2023,” said Managing Director and Group Chief Executive Officer Greg Nash.
Nippon Kanzai’s investment is one of their largest outside Japan. The company’s industry-leading position in their home market has enabled PICA Group to draw on the company’s strengths and reputation and build a stronger portfolio of property-related services.
“Nippon Kanzai introduced us to facilities management services,” said Nash. “While this is a relatively new business for us, we already manage 120 high-end buildings in Sydney.”
Facilities management services help to protect customer investments. The operational management of residential and commercial properties involves the monitoring of buildings, elevators and lighting and fire-control systems to minimize future repair costs.
“Our success in Sydney is paving the way for our expansion to the rest of the east coast of the country,” said Nash.
As the company continues to expand both organically and inorganically, Nash is committed to strengthening the professional skills of PICA Group’s workforce and investing in technology to drive productivity and growth.
“Today, PICA Group holds the No. 1 position in the market,” said Nash. “We manage 12,000-plus buildings, adding up to approximately 220,000 lots under management, twice that of our closest competitor. We will strengthen our already successful joint venture and develop our client base as we look toward the next five years and beyond.”