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Global real estate specialist Jones Lang LaSalle said it had signed an agreement with Dubai-based property developer Al Andalusia Courtyard to provide retail leasing and consultancy services for its upcoming Meydan and Al Khawaneej community centers in Abu Dhabi and Dubai.
JLL, a leading professional services firm focused on real estate, investment management and development consultancy, said that through this partnership, it will continue to support future projects at Al Andalusia Courtyard, in line with the latter’s commitment to its UAE real estate portfolio. expansion plans.
This includes an internally funded project worth AED 160 million in Dubai, a AED 60 million own project comprising 60 luxury townhouses, and two mixed-use commercial projects in Dubai and Abu Dhabi worth AED More than AED 90 million in 2023.
Saleh Tabakh, CEO of Al Andalusia Courtyard, said: “We recognize that JLL’s global expertise in retail leasing and consulting will be invaluable as we continue to expand our portfolio and provide development services for third-party projects. ”
“We are delighted to be working with JLL during the pre-development and design stages to ensure that these projects are delivered in line with market requirements and have the appropriate technical features for fit-out and operation. Through this enhanced partnership, we believe our future Deliver quality projects,” Tabakh said.
With around 154,000 sqm of retail space scheduled to be completed in Dubai and 197,000 sqm in Abu Dhabi by the last quarter of 2022, annual retail rents in the UAE have rebounded steadily.
“As the retail real estate landscape in the UAE continues to evolve, retailers can consider ample supply and potential tenants choose locations for new outlets more strategically,” said Dana Williamson, head of commercial space and retail offices at JLL Mina.
“As experts in the retail space, we are well positioned to support Al Andalusia Courtyard in providing retail leasing for their upcoming community centers in Dubai and Abu Dhabi, while also adding value to their future projects,” she added.-TradeArabia News Service
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