New real estate entity will operate across seven offices in the UAE, Saudi Arabia, Bahrain, Oman and Egypt
International real estate advisor Savills has announced the rebrand of its Middle East business following the acquisition of Cluttons Middle East.
The firm, which was previously represented by associates in the Middle East, has completed a successful six month integration process with the region’s longest-established advisor Cluttons Middle East, which will now be known as Savills.
It will operate across five countries including Bahrain, Egypt, Oman, Saudi Arabia, and the UAE, with seven offices employing 230 people, offering the broadest geographic reach of any real estate consultant in the region.
Savills will further strengthen these in-country teams with new hires and key recruitment to grow the business further, it said in a statement.
Savills said it will also expand its Middle East property management business with a specific focus on commercial assets.
Steve Morgan, CEO of Savills Middle East, said: “Over the past six months, we have been fully immersing our existing Middle East team with the international Savills brand, and refining processes for a seamless transition for our clients. There are many complementary synergies and a lot of benefits for partnering with such a well-established global entity, particularly for our customers who can access a broader range of international services and networks.
"We believe there are significant growth opportunities from leveraging Savills’ global reach. Clients will benefit from a team with a comprehensive regional presence and years of local knowledge and experience, backed with a world-class international network and robust research covering all sectors and markets.”
James Sparrow, Savills EMEA CEO, added: "We have seen an extremely positive start from our newly acquired Middle East business with some very exciting opportunities arising from the strong collaboration between our teams both in region but across EMEA and beyond. They are a leading force in the Middle East and have shown us they share our values and culture with a priority for the highest level of client care.”
Savills is a UK listed firm, established in 1855 with a global office network of over 600 wholly owned and associate offices employing more than 35,000 people in over 60 countries throughout the Americas, the UK, Europe, Asia Pacific, Africa and the Middle East.