Tenant and occupier sentiment has now reached a tipping point and has improved noticeably in the region over the past six months. Tenants and occupiers have recognised that favourable market conditions provide them with opportunities to take advantage of the new, competitive nature of the market.

Improved tenant and occupier sentiment has been reflected by a ten-fold increase in the level of active and potential demand in Dubai over the past six months. Though improved sentiment has yet to result in a significant increase in signed leasing activity, Jones Lang LaSalle expects this to occur within the next 6 - 12 months.

Recovery in demand will be uneven rather than uniform, with clear "winners and losers" in an increasingly forward-looking market focussed on location and quality. Despite increasing vacancy rates, a shortage of such stock is likely to remain.

Proactive owners will recognise the need to cater more closely to tenant and occupier demands. The strategies likely to be recommended are rent free periods and other leasing incentives, along with the provision of longer leases for major anchor tenants and occupiers. Some of the more innovative landlords may also offer finance packages to assist with the initial capital expenditure required for fit-outs.

An improvement in demand is a necessary prerequisite to attract long term investors to commercial markets in the MENA region. Jones Lang LaSalle expects strengthening tenant and occupier demand to convert into increased investor demand later in 2010 - which is shaping up to be the 'vintage year' in the current real estate market cycle.(C) 2009 Al Bawaba (www.albawaba.com)

"Ann is a proven leader whose experience across a broad range of real estate disciplines makes her the ideal choice for this important position," said Peter Roberts, Chief Executive Officer for the Americas region. "Her success in driving growth, excellence in client service and business performance makes her the ideal choice to help guide the firm now and through the economic recovery."

Sperling will succeed Bill Thummel, who has held the position since 2005 and has been named to the newly-created Chief Operating Officer role for the firm's global Corporate Solutions organization. Sperling and Thummel will work together in the coming weeks to ensure a smooth transition.

"I am enormously impressed with the leadership and vision of Jones Lang LaSalle and its unwavering commitment to service and quality. The firm's client focus, commitment to excellence and strong culture match my personal fabric," said Sperling. "These demanding times provide a unique opportunity to contribute to the performance of a great firm."

Previously, Sperling was Managing Director at Catellus Development Group, a national mixed-use development company and wholly owned business of ProLogis. As the chief operating executive for Catellus, she oversaw strategy, finance, operations and marketing.

She joined Catellus following the CBRE/Trammell Crow Company merger, capping a 25-year career at Trammell Crow during which she rose from her first job in retail leasing to become Senior Managing Director and Area Director for the firm's Rocky Mountain region.

Over her career, she has been involved in most core real estate services for corporate and investor clients, including tenant representation, agency leasing, investment sales, outsourcing, project management, facilities management, property management, construction and commercial development.

A magna cum laude graduate of Tufts University, Ann earned her MBA at Harvard. She has been honored by the National Association of University Women, and she received the 2008 CREW Denver's Women of Influence Award.

Sperling will be based in Chicago and will maintain her residence in Denver, where she is committed to a number of civic and community activities, including service as a member of the Board of Directors of The Children's Hospital. She also was a member of the Governor of Colorado's Business Advisory Committee. Additionally, she has held leadership roles with the National Association of Industrial and Office Properties (NAIOP), the Urban Land Institute (ULI) and the International Council of Shopping Centers (ICSC).

About Jones Lang LaSalle

Jones Lang LaSalle (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 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 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 more than $37 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.

SOURCE Jones Lang LaSalle Incorporated

http://www.joneslanglasalle.com

When: October 28 @ 9:00 AM Eastern

Where: http://www.videonewswire.com/event.asp?id=62698

How: Live over the Internet -- Simply log on to the web at the address above.

Contact: Lauralee Martin

If you are unable to participate during the live webcast, the call will be archived on the Web site www.joneslanglasalle.com.

SOURCE Jones Lang LaSalle

http://www.joneslanglasalle.com