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Fri 15 Aug 2014 01:23 PM

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European developer launches UAE sales unit amid property boom

Preatoni, which recently invested in Dubai Star Tower, is slated to announce other major projects in the near future

European developer launches UAE sales unit amid property boom
Construction work on Dubai Star Tower. (Photo for illustrative purposes only)

Preatoni, the European property developer which recently opened Preatoni Real Estate in Dubai, has said it has launched a dedicated sales division to handle the UAE realty market.

The Milan-based company, which has built tourism and residential complexes, hotels and leisure centres worth 2.5 billion euros in the MENA region, has adopted a non-exclusivity policy with UAE sales brokers, it said in a statement, adding that regional projects include the Domina Coral Bay Resort in Sharm El Sheikh Egypt.

The company said it aims to expand its portfolio of residential and commercial complexes through this dedicated arm, which will help to generate further demand for Preatoni’s current and future projects.

Preatoni has regional headquarters in Italy, Estonia, Lithuania, Latvia, Russia, Egypt and Dubai.

Preatoni has recently invested in Dubai Star Tower which is taking shape and is slated to announce other major projects in the short term.

“We are fully geared to unlock the potential of the UAE real estate market in residential, office, retail and hospitality sectors. Our newly established dedicated sales division will work in coordination with other units to drive sales and generate further demand in our projects,” said Edoardo Preatoni, CEO of Preatoni Real Estate. 

“We decided not to appoint any exclusive sales agents for any of our UAE projects with the goal of replicating our success stories in Europe, Baltic and the Middle East. So far, this model is paying off in the UAE market as we work with all brokers and agents to maintain open channels with key players in the market.”

Preatoni added: “This sales unit will work in harmony with other concerned sections at our company. We are confident this move will take Preatoni ahead of competition, driven by the factors like strong track record, investor and client confidence and international profile.”

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