JLL inks deal with Saudi Chamber

Manama : JLL, the world’s leading real estate investment and advisory firm, yesterday signed a Memorandum of Understanding (MoU) with the Saudi Eastern Province Chamber of Commerce & Industry to improve transparency in the region’s residential, retail, office and hospitality real estate market. 

As an independent consultant, JLL will assist the Damman-based Chamber to improve the quality and accuracy of data being collected and shared in the market by collaborating directly with major retailers, developers, hoteliers and Government bodies amongst others.

The Eastern Province Chamber of Commerce & Industry, represented by the Housing and Urban Development Committee, has been a supportive partner to this initiative. 

Ali Mohsen, head of Eijad Holding and member of the committee, said, “JLL is one of the first entities that aligned its vision with us and given its experience and excellence in real estate reporting, we are confident that this report will be a good addition contributing to the maturing of the market”.

Jamil Ghaznawi, National Director and Country Head of JLL Saudi Arabia said: “Such collaborative initiatives will enable stakeholders to gain valuable insights in regards to market sentiment and challenges. We are hopeful that this initiative will aid decision making processes and contribute towards the economic development.”