Riyadh-Mubasher: JLL, the world's leading real estate investment and advisory firm, said it has successfully advised Al Rajhi Capital and Arcapita on the sale of a portfolio of logistics and retail assets in Saudi Arabia and the UAE.
The transaction worth SAR 1.35 billion consisted of long-term leased retail and logistics assets in Riyadh, Jeddah and Dubai.
"Al Rajhi and Arcapita appointed JLL earlier this year to run an efficient sales process and JLL reached out to a diverse group of investors from across the GCC and internationally," said Gaurav Shivpuri, head of capital markets for JLL MENA.
"JLL's ability to reach a wide investor pool resulted in significant interest for the portfolio which confirmed strong investor interest in income producing real estate despite the general perception of market weakness in the region," he added.
"The deal highlights the requirement for professional real estate transaction management services for such high-quality real estate assets and portfolios," said Jamil Ghaznawi, head of JLL in Saudi Arabia.
"JLL, with its strong presence in Riyadh and Jeddah and ability to access investors across the region, will continue to play an active role in supporting and advising clients for such real estate investments," he added.
