Key facts
- Tishman Speyer has appointed Joseph Ghazal as its new global head of growth.
- Ghazal's responsibilities will include identifying Middle East acquisition and development opportunities.
- He previously served as chief investment officer at Prologis for over 18 years.
- Tishman Speyer aims to establish a presence in the Middle East, a region currently experiencing geopolitical instability.
- The firm has been expanding its presence in the Asia-Pacific region in recent years.
Tishman Speyer, a major U.S. commercial real estate owner, is expanding its global footprint into the Middle East by hiring Joseph Ghazal as its senior managing director and head of global growth. Ghazal, who spent over 18 years at Prologis, most recently as its chief investment officer, will focus on identifying and executing acquisition and development opportunities in the region, as well as expanding Tishman Speyer's presence in India.
Tishman Speyer manages $70 billion in assets across 40 markets globally but currently lacks a presence in the Middle East. The firm has, however, been increasing its footprint in the Asia-Pacific region in recent years. CEO Rob Speyer stated that Ghazal is well-positioned to spearhead the company's next phase of growth and diversification.
This strategic move into the Middle East comes at a time of heightened geopolitical tension in the region, with conflicts involving Israel, Palestine, and Iran impacting global investment sentiment. Some investors, like Walton Global, have noted a shift in capital away from the Gulf, while reports indicate wealthy buyers are also pulling back from markets like Dubai due to the ongoing conflicts.