JLL, the world’s leading real estate investment and advisory firm, announced that it has 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 and as 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 pool resulted in significant interest for the portfolio which 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 our strong 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.”