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09 December 2023

Nakheel's new JV to hire 250 estate agents

Nakheel's Palm Jumeirah. (Supplied)

By Staff

Nakheel has signed a joint venture agreement with Engel & Völkers, a Germany-based real estate brokerage firm, to create a company specialising in selling and leasing properties in Dubai.

The agreement follows a letter of intent signed between the two companies in 2014, with the new company operating under the Engel & Völkers brand.

Engel & Völkers has more than 600 offices in 38 countries spanning five continents, through which Nakheel will be able to market its properties to more than 500 locations worldwide.

The company expects to open its new, 850 square metre Dubai Market Centre (MC), based at Nakheel’s head office, in the first quarter of 2015. The MC brokerage will hire 250 people with recruitment campaign already underway.

Nakheel Chairman Ali Rashed Lootah said: “This joint venture is a natural progression for both Nakheel and Dubai real estate.  The new company will allow us to tap into new markets and give investors worldwide the opportunity to become part of the ever-evolving emirate of Dubai.”