LaSalle Investment Management has opened an office in Dubai to support the opportunities in the region and its existing Middle Eastern clients.
The firm maintains that the characteristics of the Middle East real estate markets can potentially offer the same opportunities to those seen in Southeast Asia at the beginning of 2001. Following the Asian financial crisis, LaSalle opened its office in Singapore. This business that now manages more than $6.6bn in real estate assets.
LaSalle is confident that it can similarly capitalise on opportunities in the Middle East and is well positioned to timely and strategically grow its business in a region where it foresees growth.
Nick Brooks, regional director, LaSalle, said: “ We believe that Gulf investors will find the current positive position of many of the world’s real estate markets attractive, and being present in the Gulf in real time will help us serve them in an increasingly meaningful way. Another advantage of a local office is that it enables us to monitor the real estate investment climate more closely to determine the potential to expand our business to the Gulf region in the future.”
Brooks will lead the new office.
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