PHOTO
KSA - JLL, the world's leading real estate investment and advisory firm, and Jeddah Chamber of Commerce("JCCI") yesterday signed the Memorandum of Understanding (MOU)to collect and share data on the retail sector in Jeddah.
JLL will act as an independent third party to assist JCCI Jeddah Retail in the data collection process for the newly established JLL - JCCI Jeddah Retail Index. This index will improve transparency in the retail sector in Jeddah by collecting data from the members of Retail Committee of JCCI, which are major retailers and shopping centres, on a regular basis.The data will be included exclusively as part of JLL's quarterly report to improve the quality of available data on the retail sector in Jeddah.
Commenting on the new MOU with JCCI, Mr Jamil Ghaznawi, National Director and Country Head of JLL's KSA, said: "This Memorandum of Understanding (MOU) marks an important initiative to support greater transparency in the retail sector of Jeddah. We are pleased to partner with The Jeddah Chamber of Commerce and Industry and work with them to support this significant initiative in the market. The data provided by the chamber will contribute substantially to our quarterly reports and will encourage the use of more data in similar market reporting processes."
Mr Adnan Mandoura, Secretary-General at JCCI said:With the new JLL - JCCI Jeddah Retail Index, we will be collecting data from major retailers in order toimprove transparency and availability of data on shopping malls. We are pleased to work closely together with JLL to share our respective expertise as we increase the information available about the retail sector in Jeddah."
-Ends-
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
For further information, visit www.jll.com.
About JLL MENA
Across the Middle East, North and Sub-Saharan Africa, JLL is a leading player in the real estate market and hospitality services market. The firm has worked in 35 Middle Eastern and African countries and has advised clients on real estate, hospitality and infrastructure projects worth over US$ 1 trillion in gross development value. JLL MENA employs over 220 internationally qualified professionals embracing 30 different nationalities across its offices in Dubai, Abu Dhabi, Riyadh, Jeddah and Cairo. Combined with the neighbouring offices in Casablanca, Istanbul, Johannesburg, Lagos and Nairobi, the firm employs more than 600professionals and provides comprehensive services in the wider Middle East and African (MEA) region.
For information, please visit our website: www.jll-mena.com
Tahliya and Andalus Streets | PO Box 2091 | Jeddah 8909 - 23326, Kingdom of Saudi Arabia
tel +966 12 660 2555 fax +966 12 669 4030 www.jll-mena.com
Contact:
Jamil Ghaznawi /Kathryn Athreya
+966 12 660 2555/+971 4 426 6999
jamil.ghaznawi@eu.jll.com/kathryn.athreya@eu.jll.com
Erica Pettit / Vadia Rai
+971 4 437 2105 /+971 4 437 2110
erica.pettit@fticonsulting.com
vadia.rai@fticonsulting.com
© Press Release 2015
