JLL has been appointed by Magnom Properties to serve as project managers, office and retail advisors for the developer’s upcoming projects in the region. JLL will advise on Magnom Properties’ high-value commercial, residential and lifestyle projects in Saudi Arabia, Egypt and the wider Middle East and North Africa region, while providing consultancy services to develop the strategy, budget and timeline of the projects.
With strong credentials in driving sustainable projects, JLL’s vision to shape the future of real estate for a better world aligns with Magnom’s goals to ensure its projects adhere to the highest sustainability standards. Together, JLL and Magnom will support the region’s ambitions to achieve net zero emissions, the statement explained.
“We are committed to developing high-value projects that uphold the highest standards in sustainability. Through our partnership with JLL, a company with proven experience in sustainable project management, we aim to ensure our projects adhere to the highest standards of sustainability. Our goal is to support the economic growth of the region while also being a strong partner in supporting decarbonisation strategies,” said Maged Marie, CEO, Magnom Properties.
In April 2022, JLL said that 6,000 residential units had been added to key Saudi cities in Q1, 2022, and, in earlier in the year, in February, it noted that KSA’s hospitality sector performance improved in Q4, 2021.
Ayman Sami, Country Manager, JLL, said: “The focus of Magnom Properties to develop and manage sustainable projects with the lowest carbon footprint serves as a model for the region as it focuses on transitioning to net zero emissions. We have a strong track record in delivering large-scale projects globally and we will bring our expertise in Project Management, Retail, Offices and Property Management to support Magnom Properties, ensuring that they achieve their ambitions.”
Sami added, “We are happy to be part of this relationship working closely with world-renowned architects and contractors on a very unique project in the New Capital that is anticipated to be a leader in driving change.”
Magnom Properties is said to have recently hosted architect Adrian Smith along with his partner Gordon Gill of the international design firm Adrian Smith + Gordon Gill Architecture in Egypt and Saudi Arabia, where they discussed mutual collaborations and toured various sites.
In April 2022, Ben Jackson, Head of Project & Development Services MEA for JLL discussed inflation and its impact on the construction sector.