The expansion will come under the leadership of Gaurav Shivpuri, Head of Capital Markets for the MENA region and Jonathan Hubbard, Head of Investor Services, for the Hotels & Hospitality Group in Europe, Middle East and Africa. Mr. Shivpuri and Mr. Hubbard will be supported by Marko Vucinic, Senior Vice President for the Hotels & Hospitality Group in the Middle East and North Africa at JLL, who will be responsible for day-to-day operations and will lead its advisory and valuation businesses.
Amr El Nady has been promoted to Senior Vice President and will continue to head the Global Hotels Desk for MENA, focusing on cross-border investment activities for single assets and portfolios across the globe, as well as supporting hotel investment sales in the region.
JLL has been expanding its Hotel Asset and Development Management services in the region in order to support hospitality investors in efficiently developing and optimising the operational performance of their assets, at a time when the region is seeing further supply growth, despite facing challenging market conditions.
Alongside its core advisory and valuation businesses, JLL is introducing JLL Foodservice Consulting, which consults on all aspects in the food and beverage sector, including commercial and operational performance analysis, benchmarking, standards monitoring and due diligence.
“JLL’s dedicated Hotels & Hospitality team has been a market leader in providing high quality advice during the pre-development phase through feasibility studies, valuations, operator selection and capital raising in the region. The addition of these services will now allow us to support our clients throughout the development and post development stages thus delivering the full cycle of services that we provide to our clients in other parts of the world” said Mr. Shivpuri.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6 billion, JLL has more than 280 corporate offices, operates in 80 countries and has a global workforce of approximately 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management.
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
About JLL MENA:
Across the Middle East, North and Sub-Saharan Africa, JLL is a leading player in the real estate market and hospitality services market. The firm has worked in 30 Middle Eastern and African countries and has advised clients on real estate, hospitality and infrastructure projects worth over $1 trillion in gross development value. JLL employs over 300 internationally qualified professionals embracing 35 different nationalities across its offices in Dubai, Abu Dhabi, Riyadh, Jeddah, Al Khobar and Cairo. Combined with the neighbouring offices in Casablanca, Istanbul, Johannesburg, Lagos and Nairobi, the firm employs more than 1,100 staff and provides comprehensive services in the wider Middle East and African (MEA) region.