Warren Buffett's property arm launches its luxury homes division in UAE
Dubai: One of the biggest names in the global real estate space wants to sell homes of $5 million and more in the UAE. Berkshire Hathaway HomeServices' Gulf venture has launched its luxury collection division, even as the top end of the local market sees more buying activity in recent weeks.
“There is increasing demand for luxury properties in Dubai’s current real estate market,” said Dounia Fadi, Chief Operating Officer. “With our recent high-value transactions in areas like Emirates Hills, Palm Jumeirah, Bulgari Residence and Bluewaters Islands, we feel confident we are moving our agency in the right direction."
It was in 2019 that the company - part of the Warren Buffett empire - moved into the UAE property space.
According to Chris Stuart, CEO at Berkshire Hathaway HomeServices, "The demand for extravagant estates will continue into 2021 - and with the brokerage’s access to the luxury property segment for which Dubai naturally attracts, it will certainly excel in providing clients with a seamless experience when purchasing a luxury residence priced in the top 10 per cent of Dubai’s local market.”