Jones Lang LaSalle MENA Appoints New Co-Head of Saudi Arabia Business

Jones Lang LaSalle MENA Appoints New Co-Head of Saudi Arabia Business

Saudi Arabia is our most important core market in the region-says official.

October 1, 2010 9:26 by Rasha Reslan

Jones Lang LaSalle has made a series of announcements today related to the growth, importance and management of its business in the Kingdom of Saudi Arabia (KSA), its largest business in the MENA region. Soraka Al Khatib has been appointed Co-Head of the Jones Lang LaSalle business in Saudi Arabia, joining from the National Commercial Bank, KSA. In addition Jones Lang LaSalle confirms it has doubled the number of staff in the KSA since the start of 2010 and has expanded its offices in Riyadh at Abraj Attawyniya Tower and in Jeddah at Jameel Square.

Thierry Loué, Chief Executive Officer of Jones Lang LaSalle MENA said: “Saudi Arabia is our most important core market in the region and the largest in our MENA business It is poised for another decade of growth as it capitalises on its significant domestic demand and leverages its important resources.”

He continued: “We are delighted to have many prominent Saudi nationals on our team working alongside our international real estate professionals based in the Kingdom. We are very pleased to announce the appointment of Soraka Al Khatib as Co-Head of our business in Saudi Arabia; he brings with him a wealth of real estate experience within the Kingdom and will be a great asset as we continue to grow our business.”

Soraka Al Khatib, Co-Head of Jones Lang LaSalle Saudi Arabia added: “I am pleased to be part of Jones Lang LaSalle’s professional team along side John and fully dedicated to the Saudi market. The firm has a market leading position in the region and this is a great opportunity for me. The Saudi Real Estate industry is growing exponentially with ‘mega projects’ that require research-driven solutions combined with real estate expertise, which is exactly what Jones Lang LaSalle offers to its clients.”

Saudi Arabia is entering a decade of sustained real estate growth and has become the most significant real estate market in the MENA region; building on an impressive record of domestic economic growth, diversified demand and strategic planning, the Kingdom is poised to become a dominant real estate market. Over the past five years Jones Lang LaSalle has established itself as the leading international real estate investment and advisory organisation working in the Kingdom and over the past two years has been involved in real estate projects worth more than US$ 100 billion in the Kingdom.

John Harris, Co-Head of Jones Lang LaSalle KSA added: “Our new offices in Riyadh and Jeddah will give our teams the right platform to be close to our clients and to increase our engagement in the primary property markets across Saudi Arabia.”

Loué concluded: “Our strategy is to contribute to the ongoing growth of the real estate industry in Saudi Arabia. Just as leading Saudi investors, developers, and occupiers have placed their trust in us to work with them to build the professionalism of real estate in the Kingdom, we are also looking to continue to invest in our business here.”