Jones Lang Lasalle opens Abu Dhabi office

"For more than a decade our global leading international real estate investment organization has provided an important global conduit for leading Abu Dhabi investment firms," said Blair Hagkull, Jones Lang LaSalle Middle East and North Africa Managing Director.

"Over the past five years we have advised leading real estate investors, developers and government organizations in Abu Dhabi on many of the most important real estate initiatives in the Emirate, and in the last two years alone we have been involved in real estate projects worth more than $65 billion in Abu Dhabi."

Recognizing the important role that the Abu Dhabi government and its leading real estate investors and developers play not only in the GCC but also in North Africa and South Asia, Jones Lang LaSalle sees the opening of its new Abu Dhabi office as the logical extension of its current operations in Dubai.

"Abu Dhabi and Dubai's real estate activities complement each other to the benefit of not only the UAE, but also the entire region" said Hagkull. "While Abu Dhabi has emerged as an important local, regional and international market for the real estate development industry, it has also played a major role in the export of capital and attracting global investment and joint ventures."

"We are also pleased to learn of the new initiatives in Abu Dhabi to provide greater transparency and clarification with respect to real estate ownership and registration. This should go a long way to provide investors with greater certainty, which in turn will further reinforce Abu Dhabi as a magnet for real estate investment" said Hagkull.

Jones Lang LaSalle has appointed Abood Rabbat to lead its Abu Dhabi-based team. A Georgetown University MBA graduate with significant real estate experience in North America and the Middle East, Rabbat has played a leading role in many Abu Dhabi real estate initiatives including portfolio investment analysis, transactions and large scale advisory work. Before joining Jones Lang LaSalle, Rabbat worked with leading investment banking and real estate organizations in the United States and the GCC.

In its global analysis of international capital flow into investment grade real estate, Jones Lang LaSalle's Capital Markets Group identified both Abu Dhabi and Dubai as among the most important exporters of money into the leading real estate markets around the world. Citing the important investments being made by groups such as the Abu Dhabi Investment Authority (ADIA) and Dubai-based Istithmar, earlier this year Jones Lang LaSalle cited the UAE as being a globally significant investor in commercial real estate.

Jones Lang LaSalle provides a wide range of top-tier real estate investment advisory services such as strategic consulting, valuations, investment services including real estate funds advisory, transactions, office leasing and corporate occupier services.

Jones Lang LaSalle has worked in more than 25 Middle East and North African countries, from Morocco to Pakistan and Turkey to East Africa. Recognizing the significant growth potential in the region for its global leading real estate investment services, Jones Lang LaSalle is doubling its professional workforce this year and evaluating opening other corporate offices in the region.