International real estate advisor Savills has started the year with a strategic and large-scale expansion of its regional residential team in the Middle East, that will see its agency division expand to over 100 property consultants by the year end.
The move responds to the unprecedented growth in activity across the region, and particularly within the UAE.
Andrew Cummings will lead the new, expanded residential agency within Savills Middle East. Joining the company with a long-standing history of success, Andrew is one of the UAE’s most well-known and leading real estate professionals.
“We are pleased that Andrew has joined us to drive the strategic growth of our residential agency business. This expansion continues our regional growth story, the recent highlights of which have been office openings in Egypt and KSA, as well as expanding our service lines to provide the largest full-service consultancy across the Middle East region.”
Steven Morgan, CEO Middle East, Savills
Dubai’s residential property market has seen record levels of price growth, fuelled by high levels of net inward migration, particularly amongst HNWIs, long-term visa and residency reforms, a welcoming business environment, and the delivery of world-class residential developments.
“Savills is undoubtedly the global market leader in prime real estate, powered by the most expansive network stretching across continents. With the huge increase in demand especially from global HNWIs in the region, there is no better time to tap into that global network to ensure buyers are receiving the best advice and the most suitable properties befitting their needs.
“The growth in demand for regional real estate has seen a plethora of new projects and opportunities emerge, it has also led to a maturing of the market. That maturity increases the need for buyers and sellers to have sound, professional, data-driven advice from trusted advisers. As a globally renowned real estate company, Savills is ideally placed to cater to the increasingly more complex demands of buyers and sellers to navigate the changing dynamics.”
Andrew Cummings, Head of Residential Sales Middle East, Savills
The company’s residential team in the Middle East is expected to grow to over 100 agents by H2 2024. Savills has already acquired additional office space that opened at the end of January to accommodate the expanding team.
“The region, and Dubai in particular, attracts a wide cross sector of purchasers which plays to the strength of the Savills global network.“This latest move follows our recent expansion within European markets. Earlier this month, we acquired Verbier Location, a property management and rentals company in the Swiss Alps. In 2023, Savills acquired Beliving, a residential sales and lettings real estate agency in Italy; Predibisa, a market-leading real estate firm in Porto, Portugal; and launched a residential business in Barcelona, Spain.”
Justin Marking, Head of Global Residential, Savills
With a presence in the Middle East for over 40 years, Savills continues to build on an extensive range of specialist advisory, management and transactional services across the region.
