Jones Lang LaSalle Hotels, the world’s leading hospitality investment advisor, announced today the opening of its regional headquarters to service the fast-growing Middle East and North Africa markets.
Making the announcement on the eve of the Arabian Hotel Investment Conference where it is a Platinum sponsor, Jones Lang LaSalle Hotels Global Chief Executive noted that while the global hotel market has enjoyed prosperous times in recent years, that no other region in the world has experienced the growth that has been evident in the GCC and is now appearing in the North Africa markets.
“The Middle East, and especially the GCC states, is leading the world in new hotel investments and developments” said Jones Lang LaSalle Hotels Global Chief Executive Arthur de Haast. “The opening of our Dubai office focusing on the Middle East and North Africa reaffirms our organization’s commitment to this important region and recognizes its growing importance globally”.
The Dubai office of Jones Lang LaSalle Hotels will be headed by an Executive Vice President - Mr. Jalil Mekouar and will be focused on providing Transactions, Strategic Advisory Services, Hospitality Funds and Operators Selection. It has already conducted a number of high profile assignments across the region in North Africa, throughout the Arabian Gulf and in the Indian Subcontinent and has also just been commissioned by a leading UAE based hotel investor to sell the Movenpick Resort Jumeirah Beach at Jumeirah Beach Residence. This 300 room hotel strategically located on Jumeirah Beach will be completed in early 2008 and is the first freehold branded hotel property to be offered for sale in Dubai.
Noting the importance of the UAE in the pan-regional hospitality industry, Jones Lang LaSalle Middle East and North Africa Managing Director Thierry Loue said “Our UAE office focusing on the hotel and hospitality industry is servicing an area that is home to a significant section of the world’s population. The synergy of investors, brands and the creation of new landmark leisure and business destinations further reinforces the long term importance of the MENA region”.
JONES LANG LASALLE HOTELS QUICK FACTS
Jones Lang LaSalle Hotels is the world leading hotel investment and transactions advisor, operating the premier global hospitality investment advisory platform.
- 2006 total hotels transaction totaled more than $9.3 billion, managing 186 sale and purchase transactions;
- Provided advisory and valuation services for 589 assignments on 5 continents;
- 24 dedicated Jones Lang LaSalle Hotels offices in 14 countries serving investment and advisory clients in more than 70 countries;
- 185+ hospitality experts globally serving world’s leading hotel investors, developers and financiers;
- Dubai office worked on hotels and hospitality assignment in more than 15 countries last year on hotel investment and development worth more than $5 billion.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE: JLL), the only real estate money management and services firm named to FORTUNE magazine’s “100 Best Companies to Work For” and Forbes magazine’s “400 Best Big Companies,” has approximately 150 offices worldwide and operates in more than 450 cities in over 50 countries. With 2006 revenue of over $2.0 billion, the company provides comprehensive integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients. Jones Lang LaSalle is an industry leader in property and corporate facility management services, with a portfolio of over 1.0 billion square feet worldwide. In 2006, the firm completed capital markets sales and acquisitions, debt financings, and equity placements on assets and portfolios valued at $70.9 billion. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse real estate money management firms, with approximately $40.6 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.
