Dubai-Based LuxuryProperty.com Charts International Waters
After finding tremendous success in the Dubai market, the award-winning brokerage is eyeing its first international office in New York
The past two years have been phenomenal for Dubai real estate, especially for the prime end of the residential market. Property values across core luxury communities have increased massively year-on-year, and demand is at an incredible high due to a constant influx of buyers, investors and tenants from across the world. For brokerages, it was an opportunity to set new benchmarks for success. This was certainly the case for LuxuryProperty.com, a boutique real estate company that has closed some of the largest deals in the city, has a projected revenue for 2022 that is well above initial expectations, and has rightly positioned itself as Dubai’s luxury brokerage. The next step? International expansion with the aim of becoming the world’s luxury brokerage. And that begins with the establishment of the first LuxuryProperty.com New York office in summer 2023.
LuxuryPorperty.com first opened its doors in 2017, building its reputation on two fundamental pillars – the strength of its digital brand and of its Private Client Advisory team. Investing in a solid digital infrastructure has been key for the firm’s success, and it is currently the most visited real estate website in the UAE aside from property portals with a global footprint that spans over 200 countries. The firm is considered to be on par with the best international realty brands and is recognized as a thought leader in the industry. Through the power of the brand, LuxuryProperty.com has attracted a wealth of talent, adding some of Dubai’s top realtors to its ranks. This is a testament to the culture and the values that the company holds, providing agents with the tools they need to scale greater heights of success.
One of the driving forces behind the company’s recent successes is Mark Castley, who took on the role of chief Executive Officer at the end of October. Mark joined LuxuryProperty.com as Sales Director in September 2021, bringing with him nearly two decades of real estate experience across several international markets including the Middle East, the United States and Vietnam. However, his leadership was not limited to the brokerage team – he was immensely interested in strengthening the company’s position within the industry, and his success on that front resulted in a promotion to the role of Chief Operating Officer by the end of the year. Having led the company from strength to strength in 2022, Mark is now ready to guide LuxuryProperty.com to the next stage in its evolution.
“When I first joined this company, it was because I really believed in the brand, “says Mark of his tenure. “The name really says it all – when you’re dealing with LuxuryProperty.com, you know that you are dealing with a brokerage that operates on a very high level. My focus has always been to push the standards higher, on both a company level and for individual agents, putting us in a space where very few real estate firms can truly compete with us. I intend to keep that same energy going into 2023 and beyond.”
For a boutique brokerage that puts a strong emphasis on building its brand and its relationships, the opportunities for expansion are endless. North America is one of the key cities for growth, with the prime New York market looking especially strong. While inflation and high interest rates have put a slight dent in transaction volume this year, Manhattan and Brooklyn remain a top choice for HWNI buyers and investors. A company such as LuxuryProperty.com can carve out a unique niche for itself in that market, capturing market share in core neighbourhoods in a similar fashion to what it has accomplished in Dubai.
Jason Hayes, Chairman of LuxuryProperty.com, is at the head of the company’s North American expansion. “Dubai was a saturated market when we first started operations there, yet in a span of 5 short years, LuxuryProperty.com has become one of the most recognisable names in the city thanks to a well-defined goal and implementing the right strategies to achieve that goal. I look forward to the opportunities and challenges presented by New York, with further expansion in Los Angeles, Miami and London planned.”
Dubai’s real estate market is looking at a very strong finish to 2022, particularly in the rental and short-term rental sector as people flock to the city for the Qatar World Cup – at just about an hour’s flight, it is the perfect place to be while avoiding the football crowds between matches. New York, on the other hand, will see a period of flux due to the effects of inflation, but the prime segment of the market is expected to continue growing. And across both markets, LuxuryProperty.com intends to be a solid presence, providing buyers and investors with the support and guidance they need to find their perfect property.
About LuxuryProperty.com:
LuxuryProperty.com is Dubai’s Luxury Brokerage, connecting local and international clients to the most exclusive properties in Dubai and across the globe.
A dynamic digital destination, LuxuryProperty.com lists an exclusive portfolio of over $6 billion of on- and off-market properties across the globe. As a brokerage, LuxuryProperty.com specializes in delivering exceptional private client advisory services with an emphasis on professionalism and discretion. The company also offers a bespoke real estate search and acquisition service through its exclusive Private Client Office.
LuxuryProperty.com is dedicated to curating and showcasing the very best in luxury living.
For more information: www.luxuryproperty.com
For more information or details, please contact:
Arpan Ghosh, Communications Manager - LuxuryProperty.com
T: +971 4 563 5900 | M: +971 52 713 4803
E: arpan@luxuryproperty.com
