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Eye of Dubai
Business & Money | Saturday 28 October, 2023 7:11 am |
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JLL Establishes Its Regional Headquarters at KAFD, Riyadh

JLL, a leading professional services firm specialised in real estate, investment management, and development consultancy services, has announced the establishment of its regional headquarters at the King Abdullah Financial District (KAFD) in Riyadh.

 

The strategic move to the heart of the capital’s new Central Business District (CBD) was unveiled at the 7th Future Investment Initiative (FII) in Riyadh where JLL’s President and Global CEO, Christian Ulbrich, outlined strategies and precautions that must be employed to navigate the current global real estate market. The move is part of the company’s broader commitment to strengthen JLL’s presence in Saudi Arabia. 

 

Situated in the heart of the Saudi capital, Riyadh, KAFD is home to 95 buildings designed by 25 world-leading architectural firms. It spans 1.6 million square meters and features state-of-the-art office space, world-class facilities, and iconic luxury residences. KAFD aims to transform how urban communities live, work, and play. Located just a 22-kilometer drive from King Khalid Airport, KAFD is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC).

 

JLL’s President and Global CEO made the announcement on Day 2 of FII in the presence of Gautam Shashittal, CEO, King Abdullah Financial District (KAFD), James Allan, CEO, JLL Middle East and Africa, Saud Al Sulaimani, Country Head, KSA at JLL. 

 

The announcement of the regional headquarters at KAFD, currently the largest LEED for Neighbourhood Development (LEED ND) Stage 2 platinum certified project globally, brings JLL one step closer to fulfilling its own sustainability targets and is in line with the Kingdom’s sustainable vision to decarbonise its built environment. Scheduled for completion in early 2025, KAFD is also setting a new industry benchmark as the world’s largest certified and sustainable urban quarter.

 

Christian Ulbrich, JLL’s President and Global CEO, said: “Saudi Arabia plays a vital role in accelerating JLL’s long-term and continued growth in the region, and in close collaboration with stakeholders in the Kingdom, we aim to elevate the standards of real estate services here and beyond. The growth trajectory of JLL in Saudi Arabia over the past decade has been phenomenal, bringing continued success to the company and maximising value for our clients.” 

 

Gautam Sashittal, CEO, King Abdullah Financial District Development and Management Company (KAFD DMC)said: “We are excited to welcome JLL to KAFD’s vibrant community of business leaders and economic powerhouses from across the region. JLL’s role in revitalising this iconic project, from master planning to construction, handover, and operations, has been instrumental in attracting leading industry titans from across sectors to expand their regional operations in KAFD under the nurturing RHQ ecosystem. As Saudi Arabia continues to develop new non-oil growth engines, KAFD’s state-of-the-art infrastructure, smart city solutions and exceptional customer service will be pivotal in accelerating the growth ambitions of a wide range of businesses in the region.”

 

Hassan Alduhaim, Senior Advisor, at MISA said: “The RHQ Program enables multinational companies like JLL to enter the thriving, growing economy of Saudi Arabia, as well as the wider MENA region. These companies, as well as their talent and families, will benefit from a favourable and predictable business environment and an excellent quality of life.”

 

As one of the first real estate consultancies to establish itself in Saudi Arabia more than a decade ago, the establishment of a regional HQ marks a significant milestone in JLL’s expansion and growth strategy in the Kingdom and consolidates its position as a market leader in real estate with a focus on technology and sustainability. With offices in Riyadh, Jeddah, and Al Khobar, the move will enable JLL to leverage opportunities from multi-billion-dollar Giga-projects contributing to the Kingdom’s strategic goals and deliver sustained outcomes for all stakeholders. 

 

JLL currently has over 450 employees in the Kingdom and will continue to invest in developing local talent. In support of the Saudi vision, JLL has successfully advised some of the Kingdom’s biggest real estate developments and Giga projects including the King Abdullah Financial District, Prince Mohammed Bin Salman Non-Profit City, and other landmark projects by the Diriyah Gate ‍Development Authority.

 

– Ends –

 

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