Dubai’s commercial market has witnessed large-scale leasing interest from corporate entities, many of whom are newly entering the market or expanding operations here
Real estate services provider Savills Middle East has announced the appointment of Toby Hall to lead commercial agency services. By strengthening its commercial agency service line, Savills is responding to the unprecedented growth in the activity across the region, and particularly within the UAE.
Dubai’s commercial market has witnessed large-scale leasing interest from corporate entities, many of whom are newly entering the market or expanding operations here. The most recent office market update from Savills showed that on average, rental values for Grade A space across the city saw a year-on-year increase of 14% as of Q1 2024, with specific markets seeing a surge of 20% to 30%. Meanwhile, in the industrial sector, the sustained increase in demand levels and a strong pipeline of inquiries from the FMCG, third-party logistics providers, retail, and e-commerce sectors have led to rental increases across most micro-markets.
In his new role, Toby’s initial and primary remit would be the UAE market, to build a robust business focusing on landlord leasing and office sales. His role will also involve advising Savills other regional teams which have established commercial agency service lines.
Toby returns to the UAE after 2.5 years in London, where he was first a Senior Director in the Central London office team at JLL, and then a Partner at investment and office agency Kingly Partners. During his time at Kingly Partners, he helped set up their new office leasing team focusing on tenant representation, leasing and flex space.
Whilst in the UAE previously, Toby led the commercial agency team at JLL in Dubai, helping establish and run the landlord leasing team in 2013 focusing on advisory, marketing and leasing of office space in the UAE. Beyond UAE, Toby also worked with KAFD in Riyadh during the early stages of the project, assisting with the leasing strategy and flex space offering.
Toby is a qualified MRICS surveyor and holds a BSc in Land Management and an MSc in Planning and Development from the University of Reading. In addition to the primary roles he held, he has been a Board Member and Chair of the CoreNet Global Middle East Chapter, which connects corporate real estate professionals within the region and around the world. He has also served on the board of the Middle East Council for Offices – MECO.
Speaking on his appointment, Toby Hall, Head of Commercial Agency, said, “The opportunities presented by this dynamic market is one of the key reasons for my return to the UAE. With the region’s rapidly evolving commercial landscape, I look forward to leveraging my experience in office leasing in the region and London to drive growth, build strong client relationships, and deliver innovative leasing strategies that align with the ambitious vision of the exciting Middle Eastern markets.
Savills has cemented its position as an internationally renowned real estate company and I look forward to working with some of the best minds in the business across Savills expansive global network. Together with the talented team at Savills, I am excited to create lasting value for our clients and partners.
Steven Morgan, CEO at Savills Middle East commented, “We are thrilled to welcome Toby to the Savills business to further expand the commercial agency offering in the Middle East. Over the years across many markets, Toby has gained significant experience that is highly relevant to our business and markets. Led by the UAE, our region has showcased tremendous potential for commercial sector growth and Toby and the team are well positioned to tap into these opportunities and unlock value for our clients.”
This latest announcement at Savills Middle east follows the large-scale expansion activity of its UAE residential division that it undertook at the start of the year, which will see the addition of over 100 agents by the year end.