Jones Lang LaSalle is to open its first office in the Middle East, it was announced this morning
The world’s second biggest property services firm has swooped on Dubai-based agent RSP Group, headed up by Blair Hagkull, the former general manager of Emaar Properties, and Thierry Loué, the former chief financial officer of Goldman Sachs’ hotel investment business, Alliance Hospitality.
Its 30-strong team provides property investment and advisory services to private and institutional investors and developers in the Middle East and North Africa (MENA).
Hagkull and Loué will become managing directors of Jones Lang LaSalle’s MENA operations.
It has worked on $100bn (£55bn) of developments in the United Arab Emirates since it was set up in 2001.
Alastair Hughes, Jones Lang Lasalle’s chief executive officer of the EMEA region, said the acquisition of RSP was designed to give Jones Lang LaSalle ‘market-leading coverage of the Middle Eastern and North African markets overnight’.
Blair Hagkull, joint managing director of RSP Group, added: ‘There is a rapidly growing demand for international real estate expertise across MENA. The two firms combined will bring together a wealth of talent and experience in strategic advisory, investment and research for our leading investor, developer and occupier clients.’