Gulf Sotheby’s acquires UAE real estate broker Ere Homes

Gulf Sotheby’s International Realty has acquired UAE real estate brokerage Ere Homes in a full buy-out that will double the company’s staff base and grow its salesforce to over 90 global property consultants.

Established in 2010, Ere Homes has developed into one of the UAE’s leading real estate brokerage firms under the leadership of real estate industry veteran Chris Whitehead.

The luxury real estate firm said it was attracted to Ere Homes for its similar people-centric approach to management and operations, its robust data-backed sales processes and strong track record of success.

With the GCC real estate market softening, Gulf Sotheby’s International Realty has been in acquisition mode since last year, a strategy the company plans to continue in 2016, a statement said. The value of the deal was not revealed.

“This acquisition brings together two like-minded real estate companies that have built their success on the knowledge and capability of their people,” said George Azar, the chairman of Gulf Sotheby’s International Realty.

“It allows us to plug a gap in our respective service offerings to become a leading full-service real estate company in the Gulf region. Ere Homes, headed by the talented and accomplished Whitehead, will add great value to Gulf Sotheby’s International Realty and assure us a major position in the market,” he added.

Whitehead, the managing partner of Ere Homes, will continue to lead the new brokerage division at Gulf Sotheby’s International Realty as managing director in charge of the sales and leasing division.

Azar said: “2015 was a record year for Sotheby’s International Realty transactions, and the brand continues to expand into key markets. With Gulf Sotheby’s International Realty having acquired the rights to deliver real estate services in Bahrain, Kuwait, Oman, Saudi Arabia and Qatar, the entire Gulf region is poised for significant growth,” he added.