Jones Lang LaSalle real estate services in Iran

Jones Lang LaSalle’s real estate services, well developed within the Middle East, are able to cover the entire real estate development cycle offering comprehensive and innovative development and investment solutions tailored to the Iranian market.

Iran with its population of 72 million has significant potential in all sectors of real estate. The country is located in a unique geographical location at the cross-roads connecting the Middle East, Asia and Europe and has a significant history which can be harnessed by a growing tourism industry.

The hotel market is currently under-developed in Iran. There is demand for four and five star international standard hotels, especially in large cities, to accommodate tourists as well as business professionals.

The current shortage in the housing sector, population demographics and strong growth rate are factors which are driving the residential sector and offering potential to developers and investors.

The Iranian retail industry is largely in the hands of cooperatives, many of which are government-sponsored, convenience/support retail and traditional souks and markets. In 2007 French hypermarket group Carrefour surprised the retail industry by committing to opening its first store in Tehran, under the sponsorship of Dubai-based Majid Al Futtaim which is aiming to open 14 Carrefour stores in Iran by 2012.

There are also many opportunities in the industrial sector as the heavily resource based Iranian economy is the 20th wealthiest in the world with 11% of the world’s proven oil reserves and 15% of the world’s proven gas reserves. (Source: the World Fact book 2008)