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Buffett's realty brokerage makes a foray into UAE

Reuters/Dubai
Filed on April 29, 2019 | Last updated on April 29, 2019 at 12.59 am

(Reuters file)

Berkshire Hathaway HomeServices is one of America's fastest-growing real estate brokerage networks.

The real estate affiliate of billionaire investor Warren Buffett's Berkshire Hathaway Inc said on Sunday it will expand its brokerage operations into the Middle East by opening an office in Dubai. It said it also plans to open a second UAE office in Abu Dhabi "within a year".

Berkshire Hathaway HomeServices Gulf Properties will be led by chairman Ihsan Husein Al Marzouqi and chief executive officer Phil Sheridan, a company statement said. They will have a team of 30 advisers and support staff.

"Our franchise agreement allows us to bring best practices from the global real estate network into Dubai and the UAE," said Al Marzouqi.

Berkshire Hathaway HomeServices is one of America's fastest-growing real estate brokerage networks with nearly 50,000 advisers and 1,450 offices named to the brand since its launch in fall 2013.

"Dubai has been a top priority for our network's global expansion as it represents innovation among world leaders and is a top global centre for trade, logistics, tourism and finance," Berkshire Hathaway HomeServices chairman Gino Blefari said.


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