Christie’s International Real Estate signs Dubai partnership

Christie’s International Real Estate has partnered with Premier Estates in Dubai.

The Dubai firm has been operating since 2016 with principals Jacqueline Johns and Dinesh Chhatwani, who have been marketing real estate in the city since 2004.

Johns said: “Combining our years of Dubai experience with a respected brand such as Christie’s International Real Estate brings a much-needed global marketing expertise.

“We can now offer our clients global exposure and also an ability to refer them throughout the affiliate network, confident they will receive the same white-glove service they have come to expect.”

And Chhatwani said: “Current demand in Dubai is strong — and getting stronger. During Covid-19, Dubai has performed way beyond expectations and is a safe haven to both live and invest. The government has done its part, providing economic stimulus, introducing retirement visas and liberalizing lifestyle standards to be more in keeping with those of the West.”

The United Arab Emirates charges no capital gains, inheritance or personal taxes, while real estate transaction taxes are 4%. The country also offers five-year visas for homeowners above the age of 55 and those owning properties above $550,000.

Dubai saw a 15% rise in transaction volume and 37% increase in value in January 2021 compared to the same month a year ago, according to the Dubai Department of Land Development.

Helena De Forton, director of regional operations for Europe, Middle East, Russia, India and Africa of Christie’s International Real Estate, said: “Dubai is in the midst of a Renaissance for international buyers, due in large part to all the long-standing and more recent legislations put in place.

“Add to that, the value propositions and the lifestyle the city offers and it is little wonder the market has demonstrated such a dramatic uptick.”

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