PHOTO
MENA, JLL, the world's leading real estate investment and advisory firm, today announced that ithas successfully advised Al Rajhi Capital & Arcapita, region's leading real estate asset managers, on the sale of a portfolio of logistics & retail assets in Saudi Arabia and the UAE. .
The transaction, worth circa Saudi Riyals 1.35 billion, consisted of long term leased retail and logistics assets in Riyadh, Jeddah,and Dubai.
Gaurav Shivpuri, Head of Capital Markets for JLL MENA, said:"Al Rajhi & Arcapita appointed JLL earlier this year to run an efficient sales process andas a part of it JLL reached out to a diverse group of investors from across the GCC and internationally." Gaurav added "JLL's ability to reach a wide investor poolresulted in significant interest for the portfoliowhich confirmed strong investor interest in income producing real estate, despite the general perception of market weakness in the region."
Jamil Ghaznawi, Head of JLL in Saudi Arabia,added:"This transaction highlights the requirement for professional real estate transaction management services for such high quality real estate assets& portfolios. JLL, with ourstrong presence in Riyadh and Jeddah and ability to access investors across the region, will continue to play an active role in supporting and advising clients for such real estate investments."
-Ends -
Contact:
Gaurav Shivpuri/ Kathryn Athreya
Vadia Rai
Phone:
+971 4 426 6999
+971 4 4372105 /+971 4 4372110
Email:
Gaurav.shivpuri@eu.jll.com/
kathryn.athreya@eu.jll.com
Manash.bhuyan@fticonsulting.com /
vadia.rai@fticonsulting.com
Ref:
JLL_Riyadh Transaction
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. With annual fee revenue of US$ 4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed US$ 99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has US$ 48.0 billion of real estate assets under management.
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 40 Middle Eastern and African countries and has advised clients on more than US$ 1 trillion worth of real estate, hospitality and infrastructure developments. JLL employs over 130 internationally qualified real estate and hospitality professionals of 30 nationalities with regional offices in Dubai, Abu Dhabi, Riyadh, Jeddah and Cairo. Combined with the neighbouring offices in Casablanca, Istanbul and Johannesburg, the firm employs more than 300 professionals and provides comprehensive services in the wider Middle East and African (MEA) region.
Emaar Square Bldg 1 Office 403 Sheikh Zayed Road │ PO Box 214029 Dubai UAEtel +971 4 426 6999 fax +971 4 365 3260
© Press Release 2015
