Warren Buffet’s HomeServices to open in Dubai amid international push

Berkshire Hathaway is opening an office in the United Arab Emirates city

TRD NATIONAL /
Apr.April 29, 2019 09:45 AM
Berkshire Hathaway CEO Warren Buffett and Dubai (Credit: Wikipedia and Unsplash)

Berkshire Hathaway CEO Warren Buffett and Dubai (Credit: Wikipedia and Unsplash)

Warren Buffett’s Berkshire Hathaway HomeServices, now the largest residential brokerage in the United States, is opening its doors in the Middle East.

The brokerage will open an office in Dubai under the flag Berkshire Hathaway HomeServices Gulf Properties, according to Bloomberg. The new location will be led by CEO Phil Sheridan and Chairman Ihsan Husein Al Marzouqi, and have a team of 30 advisers and support staff.

HomeServices has been acquiring other brokerages across the U.S. in a bid for market share, and overtook Realogy’s NRT as the largest residential brokerage in the country in a Real Trends ranking from last month.

While growing at home, Buffett’s brokerage has simultaneously been expanding internationally. The brokerage teamed up with one of its two franchisees in Europe, London-based Kay & Co., to expand into Milan, Dubai and Vienna. It’s also said to be in talks with partners in Paris and Madrid, and considering options in Hong Kong, Mexico City and Tokyo.

Although the market has predicted a rebound for Dubai’s property market, it has been going through a slump since October 2014. Prices could fall by as much as 10 percent this year, according to S&P Global Ratings.

HomeServices hopes to open a second office in Abu Dhabi within a year. [Bloomberg] – Eddie Small


Related Articles

arrow_forward_ios
From left: 1 West End Avenue, 161 West 13th Street and 66 Ninth Avenue (Credit: StreetEasy and Wikipedia)

Porter House penthouse among NYC’s 5 priciest homes to hit the market last week

15 East 90th Street (Credit: Google Maps)

Lonely townhouse finds a match after years on market

From left: Jeff Cohn and Gary Keller

Gary Keller walks into Berkshire Hathaway’s backyard and takes its top team

From left: renderings of 1 Propect Park West, 85 Jay Street and 98 Front Street in Brooklyn (Credit: StreetEasy)

The priciest Brooklyn condo filings of 2019

60 East 93rd Street and Carlton Hobbs (Credit: Google Maps and Getty Images)

Why a $68M townhouse listing was abruptly pulled off the market

Zillow President Jeremy Wacksman

Zillow launches its high-stakes home-flipping business in LA

From left: the Ritz-Carlton, 32 East 1st Street, 560 West 24th Street, 301 East 80th Street and 32 West 85th Street

Five priciest homes new to market include 1897 townhouse

Ed Gilligan and 3 East 94th Street (Credit: Getty Images, Compass)

Don’t leave home without $21M: Amex exec’s widow sells townhouse

arrow_forward_ios