London, England (PRWEB UK) 6 December 2012
Magdi Jameel Trading Est appoints Jones Lang LaSalle to conduct ‘Highest & Best Use’ Study
Magdi Jameel of Magdi Abdul Latif Jameel Trading Est confirmed that he has appointed Jones Lang LaSalle to conduct a Highest and Best Use Study for a development project on an area of land in his portfolio.
The land is 3,432 square meters and is situated on the highly desirable Thalia Street in Jeddah in the Kingdom of Saudi Arabia. Thalia Street is an area near the centre of Jeddah which is favoured by property developers and investors.
Jones Lang LaSalle will carry out a series of in-depth tests to calculate which use of the land would be the most valuable, within the parameters of what is legal, financially feasible and physically possible.
The study is currently in process, and it is hoped that it will be completed by the end of this year. The study will provide Magdi Jameel with valuable insight into how best to proceed with the development project.
Magdi Jameel Trading Est is a Saudi company developing luxury real estate in Saudi Arabia. We work with local partners who are expert in architecture, engineering, landscaping and interior design. Our current projects include the design and construction of a large family villa in Jeddah.
Magdi Abdul Latif Jameel is a succcessful Saudi born businessman who has also been working in the UK for over ten years
Jones Lang LaSalle are a global leader in real estate services and a pre-eminent real estate investment adviser. In Saudi Arabia they offer clients a range of services including research, valuations, strategic consulting, corporate finance advisory, leasing, and investment transactions. In their “Top Trends for Saudi Arabia,” report published last year, Jones Lang LaSalle predicted the Kingdom would solidify its role as a strategic commercial location in the region, spurring growth on both supply and demand sides.