The merger strengthens The Luxury Real Estate’s position in the market and improves services offered to high-net-worth individuals (HNWIs).
The Luxury Real Estate has merged with Scorpion Property, gaining AED3 billion worth of exclusive listings across Dubai.
As part of the consolidation, Scorpion Property will cease to operate as an independent company. Its portfolio and team of agents will now become fully integrated within The Luxury Real Estate.
The merger strengthens The Luxury Real Estate’s position in the market and improves services offered to high-net-worth individuals (HNWIs). By solely focusing on this clientele, monthly sales volumes have doubled for the firm.
Luxury real estate firm consolidates with top brokerage
The Luxury Real Estate team has grown to over 100 agents and plans to expand to 200 within a year.
This aligns with ambitions to strengthen its foothold in the luxury property sector. The firm will keep concentrating on top developers and premium projects.
“Consolidating our portfolio and teams enables us to provide an unparalleled level of service and expertise to our high-net-worth clientele. We also aim to expand our portfolio while reinforcing our commitment to becoming a leader in the luxury real estate sector,” Subroto Banerjee, Director of Sales at The Luxury Real Estate said.
Scorpion Property has a track record of accomplishments. In March 2024, it earned the Top Broker Award from developer Emaar for the fourth year running. This recognised its continuing position amongst Dubai’s top 20 agencies.
Since starting in 2020, Scorpion Property delivered outstanding results. It gained praise not only from Emaar but also DAMAC Properties and Tilal Al Ghaf.
The Dubai luxury property market has seen strong growth. Knight Frank predicts high-net-worth individuals will spend $4.4 billion there this year, a 76 percent rise from 2023. This influx benefits prime locations like Dubai Water Canal and Palm Jumeirah.
