Wednesday 28 October 2020

Luxhabitat, Gulf Sotheby's to set up major luxury real estate platform

DUBAI, June 17, 2020

Luxhabitat, a pioneer in Dubai's high-end residential property market from 2009 and one of the strongest homegrown real estate brands, has announced a long-term strategic alliance with Gulf Sotheby's International Realty, the global luxury real estate firm, which will result in the creation of a unified real estate platform moving forward.
As one of the biggest of its kind in the sector, the partnership will see Gulf Sotheby's powerful sales engine with record-breaking deals and global reach combine forces with Luxhabitat's strong marketing and technology platform to create the most influential luxury real estate firm in the region supported by the world's largest global realty brand, Sotheby's International Realty. 
The partnership will result in a merge of the sales and operations teams from both companies and a 10-year partnership agreement in design, branding, marketing, and technology, said a statement from Luxhabitat. 
The new platform will also be co-branded to combine the market strengths of both companies and increase brand awareness, market share, and customer loyalty, it stated.
The Dubai-based brokerage arm of the business will be spearheaded by George Azar as the Chairman and Chris Whitehead as Managing Partner leading the sales and operations teams. 
Oriol Font will remain the CEO at Luxhabitat, which will serve as the technology and marketing partner for the new co-branded platform, while simultaneously leading the global expansion of the proptech business. 
The partnership will consolidate the market share of the two firms to create a combined force of 75+ sales brokers, a specialized range of local and global technology and marketing tools, and represent the largest digital share of voice in Dubai's real estate market, which has been led by Luxhabitat for several years.
With this deal, Luxhabitat will now be focused on supporting established real estate players in the technology and marketing space, that will prove to be a gamechanger for the traditional real estate brokerage model.
On the strategic tieup, Azar said: "We couldn't be more excited to announce this partnership as the best deal we have done in the history of this firm. 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. It's a perfect alignment, that makes us the only luxury realty brokerage in the market today," he noted.
Font said real estate players were facing an environment that required 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," he observed. 
"We are proud of what we have achieved at Luxhabitat, and we look forward to continuing our growth trajectory with a new business model focused on enabling traditional players with our marketing and technology expertise in real estate. All our team members are excited to shape the next phase of our journey and build a leading high-end real estate platform together," stated Font.
The new firm will operate from the brand new showroom at the Emaar Business Park, and will represent the largest collection of exclusive high-end properties and some of the most prestigious development projects in the UAE to its local and global HNI clientele, he added.-TradeArabia News Service


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