The offices are being launched in response to the growth boom in the UAE’s real estate market
Metropolitan Premium Properties (MPP), the Dubai-based Metropolitan Group’s flagship property company, will open new offices in Sharjah and Ras Al Khaimah in the fourth quarter of 2022, as it looks to build on the growth in the UAE real estate market.
In a statement, the company said that the new office locations are in addition to offices opened earlier in the year in Dubai in Business Bay and Emaar Business Park respectively, totaling 30,000sqft. The full-service real estate agency has said that it will also open a boutique office later this year in Palm Jumeirah, which will cater to ultra-luxury properties ranging from $5.44mn and above.
Nikita Kuznetsov, Partner Metropolitan Group and CEO of Metropolitan Premium Properties, said: “As the real estate market continues to thrive, we are delighted to be expanding our presence in the UAE with the opening of our offices in Dubai and later this year in the Northern Emirates. We look forward to bringing our unmatched marketing power, level of service and solutions to our customers as we continue to raise the bar for our industry.”
He added the company has experienced a record first half of the year with the agency already reaching its 2021 FY year revenue in the first six months of 2022. Through the first half of the year, the agency is also consistently ranked in the top three best-performing agencies with the Select Group (first place in H1), Sobha (first place in Q2), Serenia (first place for Palma Holding), DAMAC (second place in H1), Emaar (second place in Q1), Dubai Holding and Meraas (top three in H1) and Nakheel (top 10 in H1).
MPP has also expanded its team with several key appointments to keep pace with its growing ambitions. A total of six heads of divisions have already joined the organisation in 2022 with a further three more to be hired before the end of the year. The company is targeting a head count of 450 by the end of this year with a growing focus on hiring agents with experience in the luxury segment.
In November 2021, the firm announced that it sold the $17.5mn penthouse at Atlantis The Royal, and in February 2022, the Metropolitan Group announced a sales increase of 400% in 2021.