Warren Buffett’s brokerage attracts US investors to the UAE market
EXCLUSIVE: Berkshire Hathaway HomeServices Gulf Properties is working with top UAE developers to attract foreign investment
Warren Buffett’s real estate brokerage in the UAE, Berkshire Hathaway HomeServices Gulf Properties, is attracting US investors to the UAE real estate market, building exclusivity in its UAE properties, and increasing the number of its advisors in 2019, the firm said in an exclusive conversation with Construction Week.
The real estate brokerage is also looking to offer exclusive services to institutional investors interested in commercial properties by expanding its presence to Abu Dhabi within the next six months.
Speaking exclusively to Construction Week, chief operating officer of Berkshire Hathaway HomeServices Gulf Properties, Dounia Fadi, said: “We’re working with two of the largest developers in the UAE to tap into our huge network of 1,400 offices in the US and bring foreign investment into the UAE real estate market.”
The brokerage has nearly doubled its advisor and support staff count since its launch in May 2019.
Fadi added: “We began with 30 advisors and support staff. We’re, at the moment, at 40 advisors and support staff at our office in Dubai, and we’re looking to take that number to 50 by the end of 2019. We’re attracting very high talent; the best breed in real estate marketing, in terms of brokerage, and we’re building exclusivity in terms of properties.”
Construction Week reported in August 2019 that private equity investment firm IBC Group planned to acquire 10,000 holidays homes in Dubai and contracted Berkshire Hathaway Home Services Gulf Properties to play an advisory brokerage role for the properties in a deal worth $5bn (AED18bn).
Berkshire Hathaway HomeServices Gulf Properties website offers the opportunity for investors to search for a home in 12 different languages, view the listing price in other currencies, and change measurements from square foot to meters, the company said.
Gulf Properties marks the fourth global franchisee of Berkshire Hathaway HomeServices following Rubina Real Estate in Berlin, Kay & Co in London, and Maggi Properties in Milan.