United Arab Emirates: JLL, the leading professional services firm specializing in real estate, investment management, and development consultancy, today announced it has signed an agreement with Al Andalusia Courtyard, a Dubai-based real estate developer, to provide retail leasing and consulting services for its upcoming community centers in Abu Dhabi as well as Meydan and Al Khawaneej in Dubai.

In addition, this partnership will see JLL extending its continued support to Al Andalusia Courtyard’s future projects, which is in line with the latter’s expansion plans across its UAE real estate portfolio. This includes internally funded projects in Dubai valued at AED 160 million, AED 60 million of its own projects consisting of 60 luxury townhouses, and the development of 2 mixed-use commercial projects in Dubai and Abu Dhabi valued at over 90 million AED in 2023.

“We recognize JLL's global expertise in retail leasing and consulting will be invaluable as we continue to grow our portfolio and offer development services to third-party projects,” said Saleh Tabakh, CEO of Al Andalusia Courtyard. “We are excited to work together with JLL in the pre-development and design stage to ensure these projects are delivered in line with market requirements and have appropriate technical features for easy fit-out and operations. Through this strengthened partnership, we are confident we will deliver top-quality projects in the future.”  

With approximately 154,000 sq. m. of retail space scheduled to be completed in Dubai and 197,000 sq. m. in Abu Dhabi in the last quarter of 2022, there is a steady rebound in retail rents in annual terms in the UAE. Retail owners are increasingly recognizing the importance of differentiating their offerings in a landscape where there is an abundance of supply. In view of greater competition, malls are introducing more experiential retail concepts and are seeking to have a greater variety of outlets for visitors to their properties. 

“As the retail real estate landscape continues to evolve in the UAE, ample supply is available for retailers to consider and potential tenants are more strategically selecting their locations for new outlets,” said Dana Williamson, Head of Offices, Business Space & Retail at JLL MENA. “As experts in the retail space, we are well-positioned to support Al Andalusia Courtyard with the retail leasing for its upcoming community centers in Dubai and Abu Dhabi while also adding value to their future projects.”

-Ends-

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people, and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About JLL MEA

Across the Middle East and Africa (MEA), JLL is a leading player in the real estate and hospitality services markets. The firm has worked in 35 countries across the region and employs over 1450 internationally qualified professionals across its offices in Dubai, Abu Dhabi, Riyadh, Jeddah, Al Khobar, Cairo, Casablanca, Johannesburg, and Nairobi. For further information, visit jll-mena.com.

About Al Andalusia Courtyard

Al Andalusia Courtyard Real Estate Developer, based in Dubai, was established in 2019 with the aim of attracting Saudi investments and financial portfolios, commercial and service investment to the United Arab Emirates.

The company succeeded in attracting a number of Saudi shareholders, and developed its first business, which is the "Andalusia Courtyard" shopping complex in the Emirate of Dubai.
The group includes a number of companies specialized in real estate development, maintenance, asset management, commercial investment, retail stores, general investments and real estate financing.

Al Andalusia Courtyard also works in the field of restaurants and obtains "franchise rights" from international restaurants, in addition to managing the assets it develops and providing most of the administrative, engineering, and commercial services.

Media Contact:
Medha Sandrasagara 
JLL MEA 
Medha.Sandrasagara@jll.com 

Nivine William | Atrayee Roy Choudhury 
ASDA’A BCW
nivine.william@bcw-global.com | Atrayee.choudhury@bcw-global.com
www.asdaa-bcw.com | www.arabyouthsurvey.com