Dubai
Nakheel said on Wednesday it has signed a Letter of Intent (LoI) with Germany-based real estate brokerage company, Engel and Völkers (E&V), to create a new company specialising in selling and leasing properties in Dubai.
Trading under the E&V brand, the new company expects to open its new Dubai office on October 1 this year, Nakheel said in a statement. It added that the new joint venture will help enhancing services to Nakheel’s new and existing customers and further expanding its diverse range of property-related business activities.
With an aggressive recruitment campaign for the new company already underway, a CEO will be appointed within the coming weeks besides some 250 agents over the next 12 months, according to Nakheel.
“Our strategic partnership is set to redefine real estate services in the emirate,” stated Ali Rashed Lootah said, Nakheel’s Chairman.
Added Christian Völkers, CEO and Founder of Engel & Völkers AG: “This joint venture means that we are tapping into a key market. Dubai is witnessing an enormous growth in population numbers because of its high quality of life and its geographical location between Europe and Asia. That goes hand in hand with a higher demand for top-end property.”
