Dubai: Coldwell Banker UAE said on Sunday it opened its fourth office in the UAE at Jumeirah Village Circle (JVC), Dubai. The company said its new office is a move to expand its business operations in the region; they aim to double their sales force and open more retail offices.
“The market in Dubai is at a very lucrative standpoint currently. It is going through a healthy correction phase, which we believe is an important phase to create a mature market. The fundamentals of the market are getting stronger. As long term players in the market, we believe this market holds a lot of potential,” said Hesham Elfar, CEO of Coldwell Banker UAE.
Coldwell Banker UAE represents the UAE operations for the globally renowned US-based Coldwell Banker. Coldwell Banker said in a statement it has strong expansion plans for the region.
“We see great opportunity in the secondary market along with an increase in the number of homebuyers. The market is slowly shifting towards end users with many tenants turning into first time home owners because of the low interest rates and correction in prices. Investors can also expect higher yield for their investments since the sale prices have dropped more than rental prices, positively impacting the yield,” said Ayman Youssef, Vice-President of Coldwell Banker UAE.
