Dubai – MENA Herald: Dubai South has announced the signing of strategic agreements with CBRE and JLL, two of the world’s leading real estate consultancies, to drive foreign investment to its Business Park Free Zone.
Under the agreement, CBRE and JLL will utilize their expansive network and expertise to exclusively market and lease Dubai South’s Business Park office spaces to medium and large companies worldwide. The alliance aims to increase the number of foreign investors setting up operations at Dubai South to leverage its growing business ecosystem.
Paolo Serra, VP, Business Park, Dubai South, said: “The Business Park Free Zone currently comprises two million square feet of office space spread across 11 buildings; our offering is competitively priced and versatile enough to suit the unique needs of every kind of business model. Moreover, the Business Park Free Zone forms an integral part of Dubai South, allowing companies based here to enjoy the distinct advantages of the 145 square kilometer master planned city including proximity to the Al Maktoum International Airport, the Jebel Ali Port and to the venue of the World Expo 2020.
“Our alliance with leading global real estate consultants such as JLL and CBRE will allow us to extend these unique offerings and turnkey solutions to businesses across the world. Ultimately, our aim is to act as a catalyst for the growth of these businesses, whether they are newly setting up base here or looking to expand their footprint in the region.”
CBRE is the world’s leading commercial real estate adviser with over 70,000 employees across 400 offices, excluding affiliates, in more than 50 countries globally. The company has provided real estate consultancy across the Middle East since 2005, and participated in close to 1,000 transactions in its ten years, servicing more than 500 clients across the region.
Nicholas Maclean, Managing Director, CBRE Middle East said “The Dubai South Business Park Free Zone has already received interest from several companies across a range of industry sectors. This is due to its strategic location, which is in close proximity to the Jebel Ali Port and the Al Maktoum International airport. Dubai South will also be one of the main beneficiaries of the increased flights and passenger traffic at the adjoining airport, as well as the successful Expo 2020 bid. As a result, we are expecting a strong demand for office spaces and industrial lands from international occupiers.”
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 JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. Across the Middle East, North and Sub-Saharan Africa JLL is the leading player in the real estate and hospitality services market with 5 offices and more than 220 staff.
Commenting on the new partnership, Alan Robertson, CEO JLL MENA, said: “Dubai South’s Business Park Free Zone is becoming one of the most important business districts in the UAE, given its proximity to the Al Maktoum International Airport, and JLL is thrilled to have been selected as Dubai South’s real estate partner. From our experience in this market, companies will be attracted by the convenient location, amenities and versatility of office spaces – with ready-to-move-in offices and open plan spaces. The free zone is well suited for foreign-owned companies of all sizes from start-ups to SMEs and large corporations.”