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International real estate advisor Savills is set for a substantial expansion of its regional residential team in the Middle East, targeting over 100 property consultants by the end of 2024. This strategic move is a response to the remarkable surge in activity across the region, particularly in the UAE. Dubai’s residential property market, driven by factors like high net inward migration, long-term visa reforms, and world-class developments, has witnessed record price growth.
Recent Savills studies highlight Dubai’s leadership in prime residential market price growth among 30 cities in H1 2023 and its position as the top destination for branded residences and Executive Nomads.
Renowned luxury broker Andrew Cummings, a stalwart in the UAE real estate scene, will spearhead Savills Middle East’s expanded residential agency. Cummings brings a wealth of success to Savills, aligning with the company’s regional growth strategy that includes recent office openings in Egypt and KSA.
Steven Morgan, CEO Middle East at Savills, expressed satisfaction with Cummings joining to drive strategic growth, adding to the company’s regional success story. Cummings emphasized Savills’ global market leadership and expansive network, perfectly positioned to meet the rising demand from global High Net Worth Individuals in the region.
Cummings noted, “The growth in demand for regional real estate has led to a maturing market, necessitating sound, professional, data-driven advice. As a globally renowned real estate company, Savills is ideally placed to cater to the increasingly complex demands of buyers and sellers.”
Savills plans to grow its Middle East residential team to over 100 agents by H2 2024, already securing additional office space for the expanding team. Justin Marking, head of global residential at Savills, highlighted the region’s diverse purchaser base, complementing Savills’ global network strength.
Savills’ global track record is well-established, with over 40 years in the Middle East, providing specialist advisory, management, and transactional services.
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By Proptechbuzz
By Ravi Kumar
