Global real estate advisor Savills has started the year with a strategic and large-scale expansion of its regional residential team in the Middle East that will see its agency division expand to over 100 property consultants in 2024. 

 

As part of this arrangement, Andrew Cummings, an industry veteran, has been named Head of Residential Sales Middle East and will be leading the new, expanded residential agency within Savills Middle East. 

 

Cummings is one of the UAE’s most well-known and leading real estate professionals and joins Savills with a long-standing history of success. He brings a stellar track record to the team, having sold over AED1 billion ($272 million) globally in the last 18 months, at an average sale price of over AED40 million. 

 

Regionally, he has sold over AED 350 million with Majid Al Futtaim, including two record-breaking sales of over AED 90 million in Tilal Al Ghaf. His other achievements include notable deals in prime communities such as Emirates Hills, Palm Jumeirah, Al Barari, and Dubai Hills, said the statement.

 

According to Savills, this move is in response to the unprecedented growth in activity across the region, and particularly within the UAE. 

 

Dubai’s residential property market has seen record levels of price growth, fuelled by high levels of net inward migration, particularly amongst HNWIs, long-term visa and residency reforms, a welcoming business environment, and the delivery of world-class residential developments, it stated.

 

Lauding the key appointment, Middle East CEO Steven Morgan said: "We are pleased that Andrew has joined us to drive the strategic growth of our residential agency business. This expansion continues our regional growth story, the recent highlights of which have been office openings in Egypt and KSA, as well as expanding our service lines to provide the largest full-service consultancy across the Middle East region." 

 

Savills' track record globally is well known and with a presence in the Middle East for over 40 years, it continues to build on an extensive range of specialist advisory, management, and transactional services across the region, he added.

 

Cummings said: "Savills is undoubtedly the global market leader in prime real estate, powered by the most expansive network stretching across continents. With the huge increase in demand, especially from global HNWIs in the region, there is no better time to tap into that global network to ensure buyers are receiving the best advice and the most suitable properties befitting their needs."

 

"I am excited to get started on this journey and intend to cement Savills position as a regional market leader in residential real estate. Dubai is of course a key priority, but we will also be leveraging our long history in Abu Dhabi to grow market share and in the northern emirates where Ras Al Khaimah, in particular, is experiencing a watershed moment," he noted.

 

"More broadly, I am excited to build on our extensive consultancy practice to support the ambitious goals of Saudi Vision 2030," he added.

 

Savills said its residential team in the Middle East is expected to grow to over 100 agents by H2 2024, and the international real estate advisor has already acquired additional office space that will open at the end of January to accommodate the expanding team. 

 

"The region, and Dubai in particular, attracts a wide cross sector of purchasers, which plays to the strength of the Savills global network," remarked Justin Marking, head of global residential at Savills.  

 

"This latest move follows our recent expansion within European markets. Earlier this month, we acquired Verbier Location, a property management and rentals company in the Swiss Alps. In 2023, Savills acquired Beliving, a residential sales and lettings real estate agency in Italy; Predibisa, a market-leading real estate firm in Porto, Portugal; and launched a residential business in Barcelona, Spain," he added.-TradeArabia News Service