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$500m Dubai Deal

Market Insights
8 years ago
1 minutes

Last week a $500m AUD deal was signed between realtors Raine & Horne and developer Seven Tides, with the real estate agents winning the contract to sell 442 luxury apartments in a new 5-star hotel in the UAE.

The deal between the two parties was agreed, and overseen by Australian Federal Trade Minister Andrew Robb, Australian Ambassador to the UAE, Pablo King, the Australian Consul General to Dubai Gerard Seeber, as well as Executive Chairman and CEO of Raine & Horne, Angus Raine.

Believed to be a major-win for the newly opened Dubai sales office, Raine & Horne’s Dubai managers, Sanjay Chimnani and Surender Bhojwani will have a busy period selling these luxury apartments.

“Dubai is now a logical place to do business in the Middle East, Central Asia, Africa, the Asian subcontinent and the Eastern Mediterranean due to its strategic location, tax-free living and strong economic outlook,” said Angus Raine.

“With more capital flowing back into the residential and commercial markets in UAE’s most populous city, establishing Raine & Horne Dubai makes plenty of sense.”