Toby Hall has been appointed as the new head of the commercial agency for the Middle East by leading real estate services provider Savills. Hall’s first and main responsibilities in this position would be to develop a strong business concentrating on landlord leasing and office sales, as well as to oversee the UAE market.
Savills announced the significant hire and stated that it was strengthening its commercial agency service line in response to the region’s and the UAE’s exceptional growth in activity.
According to the report, corporate entities—many of whom are expanding their operations or just entering the market—have shown a significant amount of interest in leasing space in Dubai’s commercial market.
As of Q1 2024, rental values for Grade A space saw an average year-over-year increase of 14% across the city, with certain markets experiencing a surge of 20% to 30%, according to the most recent office market update from Savills.
The industrial sector has seen rental increases in the majority of micro-markets as a result of a persistent rise in demand levels and a robust flow of inquiries from the FMCG, retail, e-commerce, and third-party logistics providers sectors.
The UAE market would be Toby’s first and main responsibility in his new position, with the aim of developing a strong company that specializes in office sales and landlord leasing. He will also be advising the other regional teams at Savills that have developed commercial agency service lines.
Toby will return to the United Arab Emirates for this new position, having spent the previous 2.5 years in London as a Partner at Kingly Partners, a significant investment and office agency, and as a Senior Director in JLL’s Central London office team.
He assisted Kingly Partners in establishing their new office leasing team, which was centered on leasing, tenant representation, and flexible space.
As per the Savills statement, during his previous tenure in the UAE, Toby oversaw the commercial agency team at JLL in Dubai. He also assisted in forming and managing the landlord leasing team in 2013, which concentrated on office space leasing, marketing, and advisory services.
According to the statement, Toby assisted with the leasing strategy and flex space offering for KAFD in Riyadh during the project’s early phases, in addition to the United Arab Emirates.
He is an MSc in Planning and Development and a BSc in Land Management from the University of Reading. He is a certified MRICS surveyor.
Apart from his main responsibilities, Toby served as the Chair and Board Member of the CoreNet Global Middle East Chapter, a group that links corporate real estate experts in the Middle East and beyond. He was a member of the Middle East Council for Offices – Meco board of directors as well.
On his new role, Hall 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,” he stated.
Lauding the appointment, Savills Middle East CEO Steven Morgan said: “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,” he stated.
“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’s end,” he added.
