Jones Lang LaSalle has struck a formal alliance with a Turkish retail consultancy as it seeks to beef up its European retail presence.
It has formalised its alliance with Alkas Consulting and will work with the firm on the project development, leasing and management of Turkish shopping centres.
Alkas are the leasing agents for the Zorlu Center which is due to open in 2010. Jones Lang LaSalle hotels are also active on this scheme.
Alkas has successfully leased six shopping centres, totalling more than 4m sq ft and serving 1,200 tenants in 2007; and is currently providing approximately 50 shopping centre projects with strategic and concept consulting, leasing and management services.
Alastair Hughes, chief executive for Europe, the Middle East and Africa, said: ‘Turkey has great and exciting growth potential. We are already established and active in the market and the strengthening of the relationship with Alkas Consulting – clear leaders in their sector - gives us a significant platform from which to accelerate our growth.
‘Retail is an important asset class for our clients and today's announcement is a further confirmation of our commitment to expand our retail capabilities throughout EMEA.’