Property

Betterhomes purchases full floor in Motor City office tower

Brokerage says its new office puts it in a prime position to deliver effective services to clients looking for properties in Dubai’s villa communities

Real estate brokerage Betterhomes has inked a deal with Emirates NBD Properties to acquire a full-floor of office space in the Control Tower building in Motor City, Dubai. The deal was facilitated by commercial advisory firm CRC Commercial Real Estate.

According to Betterhomes, the signing occurred at the location in the presence of Ryan Mahoney, CEO of Betterhomes and Ahmed Al Sheryani, CEO of Emirates NBD Properties.

“We wish Betterhomes continued success and extend our heartfelt congratulations on their most recent acquisition,” said Al Sheryani. Aida Turki and Khaled Ghazzawi emphasised the importance of the transaction to strengthen potential future endeavours for Emirates NBD Properties and Betterhomes.

In October 2022, Andrew Elliott was appointed to lead the new commercial division at Chestertons and, later in the month, Savills said it had made key appointments to its Saudi office.

The brokerage says its new office puts it in a prime position to deliver effective services to clients when it comes to buying, selling, and renting properties in Dubai’s villa communities.

Mahoney noted, “Motor City is becoming the service hub for the Al Qudra corridor, and since we have 225+ person team in the Control Tower, we felt that buying an office rather than renting made financial sense.”

In the last ten years, the Al Qudra road and Dubai land areas have expanded dramatically, with a population growth of 60% over the previous four years. In addition, one in every five enquiries at Betterhomes are for these areas, the firm said.

In early November 2022, CRC said Dubai’s commercial market reached an all time high in Q3.

The new office is said to symbolise Betterhomes’ commitment to the UAE and the real estate market’s stability, as the company continues strengthening its presence while creating long-term value for its partners and customers.

Despite the rise in popularity of working from home and hybrid work setups in recent years, the commercial office space market has seen strong growth. In Q3 2022, office transactions in Dubai increased by 41% and the transacted value increased by 56% compared to last year, Betterhomes explained.

Richard Waind, Group Managing Director of Betterhomes concluded, “Having an office to come to boosts agents’ morale and sets the tone for the day. It creates a structure that is vital to their success.”

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