On 10 June Engel & Völkers celebrated the official launch of its Metropolitan Market Center (MMC) in Dubai with a festive ribbon cutting ceremony. The prominent guests at the event included numerous executives from the property developer Nakheel, with whom Engel & Völkers has opened the MMC as a joint venture.
Symbolic act seals partnership
The ribbon cutting ceremony was carried out jointly by Ali Rashid Ahmed Lootah (Chairman Nakheel), Khalil Issa Ahmad Awad (Vice Chairman Nakheel), Aqil Kazim (Chief Commercial Officer Nakheel), David Scheffler (Chief Operating Officer Engel & Völkers), Sanjay Manchanda (CEO Nakheel), César Latrilla (Managing Director Engel & Völkers Dubai) and John Davidson (General Counsel Nakheel). This symbolic act sealed the strategic partnership of the two companies. “It is a special pleasure to celebrate this important opening together with Nakheel. Since commencing business operations a few weeks ago, Engel & Völkers Dubai has already been able to establish itself successfully in the market and I am convinced that we will soon achieve our common goals thanks to the outstanding and close collaboration with Nakheel,” said César Latrilla, Managing Director of Engel & Völkers Dubai. The two companies used the occasion to discuss ways in which they can work together to further enhance and mutually benefit from this exciting new partnership.
After the ribbon cutting ceremony, Mr Lootah and members of the Nakheel Board of Directors and senior management team toured the new facility and met the growing Dubai-based Engel & Völkers team. A total of 250 sales advisors are due to broker properties at the Engel & Völkers MMC in Dubai by the end of 2015.
Rapid gain of new market shares thanks to joint venture
Both firms have entered into this joint venture with the aim of rapidly gaining a high share in Dubai’s market for premium residential property brokerage. It will enable Engel & Völkers to tap into this key strategic market with greater speed and efficiency. The partnership gives Nakheel access to the international Engel & Völkers client base.