A $500 million deal between Raine & Horne and developer Seven Tides was recently signed, with the real estate company winning a contract to list 442 luxury apartments in Dubai’s five-star Hotel Anantara.
The deal was overseen by Australian Federal Trade Minister Andrew Robb, as well as Australian Ambassador to the UAE Pablo King, Australian Consul General to Dubai Gerard Seeber and Executive Chairman and CEO of Raine & Horne Angus Raine.
The recent deal comes as Dubai has introduced new post-GFC regulations that protect investors, similar to the ones seen in Australia and the UK.
As reported in The Real Estate Conversation, Mr Raine said the deal was a major win for the recently opened Raine & Horne Dubai Office, headed by Sanjay Chimnani and Surender Bhojwani.
“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,” Mr Raine said.
“With more capital flowing back into the residential and commercial markets in the UAE’s most populous city, establishing Raine & Horne Dubai makes plenty of sense.”
The company’s new Middle Eastern location is in the Oberoi Centre in the Bay Business district, joining more than 240 new commercial and residential buildings going up in the area.