Chestertons launches international arm to target uae

Photo credit: Pepe Rodmon

Chestertons has launched a new international arm to target UAE buyers looking for European property.

The estate agency already has 70 international offices around the world, including countries such as Spain and France. Now, the new division will focus on encouraging Emiratis to explore investment opportunities within Europe.

Indeed, the continent has increasingly become a focus for non-EU buyers, thanks to various coutries' golden visa schemes that offer residency in exchange for investment in property. Visa-free travel throughout the Schengen zone also boosts the appeal of European real esaate.

The Dubai-based office will feature properties in Spain, Monaco, Cyprus and other EU nations. Eventually, it will expand to include Monaco and Barbados.

Brennon Nicholas has been appointed as the head of international sales for the division.

"We have created this new division to provide the Emiratis and UAE investors with a window to explore these opportunities and do the due diligence right here in Dubai. We are currently looking at some of the EU countries that have huge growth potential," comments Simon Gray, the managing director for Chestertons Mena.

Demand has grown in the past year from UAE investors, in particular, as the UAE dirham, which is pegged to the US dollar, has seen its spending power against the weaker single currency increase significantly.

Trade Arabia