Dubai’s brokerage company Luxhabitat and global real estate company Gulf Sotheby’s are merging to create a real estate platform targeting high-net-worth clients, Zawya reported on Sunday.
The new partnership will merge the sales and operations teams of both companies and consolidate the market share of the two firms to create a combined sales force of more than 75 brokers.
Both companies operate in the premium real estate market focusing on high-end properties. Luxhabitat focuses on marketing and sale of assets valued more than 5 million UAE dirhams, while Gulf Sotheby’s, an affiliate of global auction house Sotheby’s, represents the “most sought-after” luxury properties in the Gulf Cooperation Council (GCC) region.
The co-branded platform will operate from the brand-new showroom at the Emaar Business Park and will feature the largest collection of exclusive high-end properties and some of the most prestigious development projects in the UAE.
“Real estate players are facing an environment that requires them to focus on value-creation and a very multi-disciplinary skill set to remain competitive. The depth of talent and complementary expertise from both companies will enable us to better serve both our sales professionals and our increasingly demanding global clientele,” said Oriol Font, CEO of Luxhabitat.
George Azar, chairman of Gulf Sotheby’s International Realty, said: “Both brands represent and compete for a comprehensive share in the luxury realty sector. And yet, we are extremely similar in our brand identity, market positioning and sales apparatus,” said Azar.
Further changes
The Dubai-based brokerage arm of the business will be headed by Azar as the chairman and Christ Whitehead as managing partner, overseeing the sales and operations teams.
Font will remain the CEO of Luxhabitat, which will serve as the technology and marketing partner for the new co-branded platform.
Luxhabitat will now focus on supporting established real estate players in the technology and marketing space.
