Coldwell Banker real estate firm expands UAE presence with new office in Dubai

Coldwell Banker UAE, the Emirates’ branch of the global American real estate brokerage, has opened its fourth office in the Gulf nation.

The new location at Jumeirah Village Circle in Dubai comes as the company makes moves to expand business operations in the region.

Hesham Elfar, Coldwell Banker UAE CEO, said the company aims to grow its presence in the UAE as the Dubai property market continues to explode with new real estate opportunities despite a recent slowdown.

“The market in Dubai is at a very lucrative standpoint currently,” Elfar said. “It is going through a healthy correction phase, which we believe is an important phase to create a mature market. The fundamentals of the market are getting stronger. As long term players in the market, we believe this market holds a lot of potential.”

Coldwell Banker is slated to double their sales force in the UAE while plans for opening more retail offices are in the works. Coldwell Banker UAE VP Ayman Youssef said the firm’s strategy is to increase client access to services with more staff and locations. That, he said, should put Coldwell on top of the real estate game in the UAE.

“Coldwell Banker currently ranks No. 1 in the United States, and we plan to achieve the same standing in the UAE as well,” Youssef said.