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Jul 23 2012

Jones Lang LaSalle appointed as Property Manager for U-Bora Commercial Tower in Business Bay

Howat, Graham
Howat, Graham



UAE, 23 July, 2012 - Midas REF Limited, owners of U-bora Tower, a 725,000 sq ft Grade A office tower in Business Bay Dubai has appointed Jones Lang LaSalle as managing agents for the building.

Owned by a South Korean fund management company, the new 60 floor office property is an architecturally striking building in Business Bay, offering fully fitted efficient open plan floor plates, a stunning 28 meter high reception area and 26 high speed elevators amongst a range of other features. It also provides a number of associated innovative and free services for tenants such as shuttle buses, VIP pick-up and conference rooms. The building has already let 150,000 sq ft of prime office space with a number of other ongoing enquiries.

Graham Howat, Head of Property and Asset Management at Jones Lang LaSalle in MENA said, "We are very pleased to be appointed by Midas to manage their building. As Dubai's moves from a construction led to an occupier led market, property management is becoming increasing sophisticated as landlords seek to provide the very best services to attract and retain tenants. We are pleased to see owners like Midas embrace the opportunity of having a professional management company in place to ensure that their building is maintained to the very highest standards, protecting their investment and ensuring that their tenants receive world class management services."

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About U-Bora Tower:
Located in Business Bay, Dubai, U-Bora Tower is a single-owned 60-storey building with international standard "Grade A" speciation with fully fitted and efficient open plan floors. The property consists of 26 high speed elevators and 1,957 car parking spaces.

About Midas Asset Management:
An asset management company founded in Seoul, South Korea, with more than 5 billion US dollars assets under management.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse in real estate with US$ 47.7 billion of assets under management.

Across the Middle East, North and Sub-Saharan Africa, Jones Lang LaSalle 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 more than US$ 1 trillion worth of real estate, hospitality and infrastructure developments. Jones Lang LaSalle employs over 100 internationally qualified real estate and hospitality professionals of 30 nationalities with regional offices in Dubai, Abu Dhabi, Riyadh, Jeddah and Cairo.

For further information, please visit our Web site, www.joneslanglasalle-mena.com? Emaar Square Bldg 1 Office 403 Sheikh Zayed Road ? PO Box 214029 Dubai UAE.

© Press Release 2012

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