Berkshire Hathaway HomeServices announced expansion of its franchise network into the United Arab Emirates with the opening of Berkshire Hathaway HomeServices Gulf Properties.
The brokerage is led by Dr. Ihsan Husein Al Marzouqi, chairman; and CEO Phil Sheridan, who bring to the company an established team of 30 professional advisors and support staff. Gulf Properties aspires to grow quickly by tripling its advisor count and opening a second office in Abu Dhabi within a year.
“We are excited to enter the UAE and Dubai with such experienced and respected leaders as Dr. Ihsan Husein Al Marzouqi and Phil Sheridan,” said Berkshire Hathaway HomeServices Chairman Gino Blefari. “Dubai has been a top priority for our network’s global expansion as it represents innovation among world leaders and is a top global center for trade, logistics, tourism and finance. Gulf Properties will connect our growing brokerage network between East and West and will provide unrivaled access to one of the world’s most exciting real estate destinations.”
Berkshire Hathaway HomeServices is one of America’s fastest-growing real estate brokerage networks with nearly 50,000 advisors and 1,450 offices named to the brand since its launch in fall 2013.
“We are proud to bring the Berkshire Hathaway HomeServices brand to Dubai,” said Sheridan. “The brand and its lineage are respected globally. We believe the brand will be warmly embraced in Dubai and the UAE as residents and property investors will appreciate the brand’s reputation and marketing potential. Those seeking real estate guidance should look to Berkshire Hathaway HomeServices Gulf Properties for their representation.”
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. The brokerage will stress ongoing professional development and will provide its advisors with top-shelf tools and resources.
“Our franchise agreement allows us to bring best practices from the global real estate network into Dubai and the UAE,” said Al Marzouqi. “Our agents will be annually accredited and accountable to processes, standards and client satisfaction. There is no room for mediocracy at Gulf Properties. Differentiation will be key in this industry: We want to be the best in market and we’ll train to be the best.
“We will also use the practice of exclusive listings, similar to what we see in more developed markets, to provide a streamlined process for clients,” Al Marzouqi added. “The process of investing in real estate can be complicated, and Berkshire Hathaway HomeServices Gulf Properties will eliminate that stress.”
With their network membership, Gulf Properties agents gain access to Berkshire Hathaway HomeServices’ “FOREVER Cloud” technology suite, a powerful source for lead generation, marketing support, social media, video production/distribution and more. Berkshire Hathaway HomeServices has aligned with Salesforce to deliver world-class technology support to its network members far into the future. The brand also provides global listing syndication, relocation referrals, professional training and the exclusive Luxury Collection marketing program for premier listings.
“As a real estate professional in Dubai, I would be looking for a world-class brand and skilled leadership team, and what the brokerage will offer in terms of support, training and culture — a true career path,” said Sheridan. “I would look no further for those important qualities than Berkshire Hathaway HomeServices Gulf Properties.”
Timing for Gulf Properties’ brand transition is ideal, Sheridan added, as the Dubai real estate market moves forward with a growing population now exceeding 3 million – many of whom own property – and two-thirds of the world’s population within an eight-hour flight. Consumers are increasingly drawn to Dubai for its favorable ownership advantages including tax-free income, no property-tax assessments and resident visas issued on property purchases, among other factors. Residential and commercial real estate projects are proliferating in response to demand and the growing Dubai economy. Beyond this, Dubai will draw even more global attention as it will host Expo 2020 opening in the fall of next year.
“We are excited for the future and honored that our franchise agreement makes Dubai the first Berkshire Hathaway HomeServices location outside the U.S. and Europe,” said Al Marzouqi. “The presence of such an iconic global brand is further testament that Dubai is indeed a global destination when it comes to commerce and real estate investments.”
Chris Stuart, CEO of Berkshire Hathaway HomeServices, welcomed Gulf Properties. “Dr. Ihsan Husein Al Marzouqi, Phil Sheridan and their team will be strong ambassadors of our Berkshire Hathaway HomeServices brand,” he said. “Gulf Properties has experienced leadership, talented agents and an ambitious growth plan for Dubai and the UAE. We will support the brokerage every step of the way.”
About Berkshire Hathaway HomeServices Gulf Properties
Gulf Properties is a luxury Dubai real estate agency focused on the sale, letting and property management of the finest and most exclusive properties and boutique new projects. Visit dubaipropertysearch.ae.
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