Saudi, – February 20, 2018: JLL, the world’s leading real estate investment and advisory firm, has signed a Memorandum of Understanding (MoU) with Jeddah International College to support growing efforts to ensure a transparent real estate market in Saudi Arabia.
As part of the MoU, JLL will collaborate with key stakeholders in Jeddah International College to collect, consolidate and share accurate data. Furthermore, the partnership will introduce innovative initiatives through informative seminars, lectures, forums, conferences and launch internship programs at JLL for college students and graduates to learn data transparency from experts in the field.
The Kingdom of Saudi Arabia has made a number of developments in recent years towards a more transparent real estate market with a focus on strengthening corporate governance, transparency and market data, further demonstrated by moving into the ‘Semi-Transparent’ category of JLLs Global Real Estate Transparency Index.*
Jeddah International College (JIC) has welcomed the initiative and Dean Amro Taibah has said: “JIC feels privileged to enter into this collaboration with the leading real estate consultants worldwide as we at JIC are firm believers in the value of integration with relevant industries as well as introducing the practical experience into the classroom. At JIC we pride ourselves as being the first institution to offer a degree in property management as well as executive education programs in real estate finance in collaboration with the Harvard Graduate School of Design. The real estate industry in the Kingdome of Saudi Arabia is one of the largest industries that can benefit from continued R&D. A well planned built environment can offer leaps in societal transformation given that sustainable socioeconomic development and sensitive environmental planning is involved. JIC looks forward to positively impact the society through this promising joint venture”.
Commenting on the new MoU, Engr. Ibrahim AlBuloushi, National Director and Country Head of JLL Saudi Arabia said: “We are looking forward to a partnership with Jeddah International College that will work on ensuring increased transparency in the real estate sector in Saudi Arabia. Introducing college students and fresh graduates to accurate data collection and consolidation will in turn create a strong workforce equipped to ensure quality data and transparency across all sectors in the Kingdom. We are confident that this signing will further contribute to the economic development of the college as well as improve Saudi Arabia’s sentiment in the real estate market as a whole.”
Engr. AlBuloushi added: “We have collaborated with King Abdulaziz University, the Jeddah Chamber of Commerce & Industry, the Eastern Province Chamber of Commerce & Industry, the Makkah Chamber of Commerce & Industry and now Jeddah International College. We are fully committed to this market, and we’ll be working frequently with our partners to help the Saudi real estate industry become one of the leading markets in the region that are enabling transparency.”