Nakheel has signed a joint venture agreement with the Germany-based property brokerage firm Engel & Völkers to create a new company specialising in selling and leasing properties in Dubai.
The joint venture has created a new company that will operate under the Engel & Völkers brand.
Nakheel will be able to market its properties to more than 500 locations worldwide and benefit from exposure to a new international clientele, it said in a statement. In turn, Engel & Völkers shops can refer interested buyers to the joint venture in Dubai, leading to extensive cross-selling opportunities.
Engel & Völkers has more than 600 offices spanning 38 countries.
The new company expects to open its new Dubai Market Centre, located in Nakheel’s head office, in the first quarter, with a projection of 250 members of staff. Recruitment is underway.
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