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News Release

Abu Dhabi

Deerfields Town Square appoints JLL MENA to advise on set up and operation of new community mall in Abu Dhabi

Mubarak Brothers Investments (MBI) and Deerfield’s management, the owners and developers of the Deerfields Town Square Mall in Al Bahia, Abu Dhabi


​​Mubarak Brothers Investments (MBI) and Deerfield’s management, the owners and developers of the Deerfields Town Square Mall in Al Bahia, Abu Dhabi today announced that they have appointed international property consultants JLL MENA to advise on the property management set up and operation of the Centre due to open at the end of 2012.

Anchored by Carrefour, Centrepoint and Grand Cinemas Deerfields Town Square will incorporate over 200 outlets in approximately 80,000 sq m of new retail space, food and beverage outlets and family entertainment facilities. Situated on the Abu Dhabi-Dubai highway, Deerfields Town Square is currently under construction with over 50% of the retail space leased and with numerous other retailers very close to leasing in this community mall.
 
Banu Tas, General Manager of Deerfields Town Square said, “JLL MENA’s experience of operating and managing shopping malls around the world will help us deliver the very best in new community facilities, providing a quality shopping experience for those living and working in Al Bahia, Shahama, Rahba and Khalifa Cities as well as the wider catchment area. JLL MENA has provided on-site property management services for properties totalling approximately 1.2 billion sq ft globally. In addition to the property management team, JLL MENA’s retail division is also helping us with our leasing and retail mix strategy and we have already successfully leased 50% of the development.”
 
Graham Howat, Head of Property and Asset Management at JLL MENA in MENA commented that “We are extremely honoured to have been selected by Deerfields Management to develop their management systems and procedures for the new mall. Property management is becoming increasing sophisticated in the Middle East and we are pleased to see developers like MBI embrace the opportunity of having professional mall management in place from day one to ensure success for their tenants and their shopping public.”
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Abu Dhabi-based MBI is a major investment company with key stakes in real estate and construction, infrastructure, and industrial ventures. The company pursues an aggressive mission to enhance its contribution to the economic progress of the UAE. Founded in 2003 by H. E. Saeed Abdul Jalil Al Fahim, former Vice President of Abu Dhabi Chamber of Commerce. MBI is a venture capital firm that specializes in properties and financial investments which are in line with the vision of Abu Dhabi and the UAE. On an international scale the UAE is the midpoint between East and West, this further strengthens MBI's global position. Intelligent investment combined with invaluable experience allows MBI to elevate the Business whether it is start-up or established to new heights.
 
About JLL MENA:
 
JLL MENA (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, JLL MENA serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse in real estate with US$ 47.7 billion of assets under management.

Across the Middle East, North and Sub-Saharan Africa, JLL MENA is a leading player in the real estate market and hospitality services market. The firm has worked in 35 Middle Eastern and African countries and has advised clients on more than US$ 1 trillion worth of real estate, hospitality and infrastructure developments. JLL MENA employs over 100 internationally qualified real estate and hospitality professionals of 30 nationalities with regional offices in Dubai, Abu Dhabi,Riyadh, Jeddah and Cairo.