Knight Frank Middle East announces major expansion of operations in Dubai residential real estate market
Andrew Cummings hired to lead Dubai Residential team as it targets high-end and luxury market segment
Knight Frank Middle East has announced a major expansion of its operations in the Dubai residential real estate market as it targets becoming the Emirate’s leading luxury real estate firm, offering clients a true value-add and a sales portfolio of luxury, ultra-prime homes.
In a statement, Knight Frank Middle East said that the Dubai Residential team will be spearheaded by Andrew Cummings, a well-known senior figure in Dubai’s real estate sector with an impressive number of record transaction’s including overseeing the sale of two 100m+ properties, which at the time, were the second and third highest sales in Dubai residential market history and the most expensive residential lease in Dubai in 2020, as well as the most expensive Emirates Hills sale back in 2019.
Andrew Cummings – Partner, Head of Prime Residential Sales at Knight Frank Middle East commented: “I am delighted to be joining Knight Frank to lead their expansion into Dubai’s residential market. As one of the world’s leading luxury real estate companies I am confident that we can add significant value through our levels of outstanding professionalism, local UAE real estate experience and leveraging our expansive global network of over 16,000 real estate professionals.
“With Dubai’s property market roaring back to life and seeing record growth in 2021, now is absolutely the time to capitalise on this momentum to offer both buyers and sellers an unrivalled world class experience,” he added.
The statement added that the hire of Cummings signals Knight Frank’s intentions to become the market leader across Dubai’s prime neighbourhoods and developments. Already in Cummings’ first week with the firm, the Prime Residential team have transacted on over AED 140 million in property sales, which included the off-market sale of an AED 87 million villa on Palm Jumeirah by senior agent Anne Ogilvie, which was one of the most expensive sales on the Palm in recent years, it continued.
Rupert Dawes – Partner, Global Head of Residential at Knight Frank said: “Dubai represents a huge growth market for Knight Frank with our HNWI’s across the globe seeing it as ‘the’ emerging market to invest and live in. Over the last 12 months Dubai has seen significant growth in the luxury residential space with a new record of 54 US$ 10m+ homes sold in Dubai so far this year. We will continue to invest and grow our businesses in Dubai in order to provide our clients with the best advice and access to the most exclusive properties.”
Knight Frank established its Middle East operations 12 years ago and from its strategically positioned offices in Dubai and Saudi Arabia, provide integrated residential and commercial real estate transaction, consultancy and management services to its clients, who range from individual owners and buyers to major developers, investors and corporate tenants.
On an international scale, Knight Frank LLP is the leading independent global property consultancy and has an expansive global footprint of more than 16,000 real estate professionals, operating from 384 offices across 51 territories.
