Global real estate services firm Newmark has entered the GCC region with a new office in Dubai, its 166th worldwide.
Headquartered in New York, Newmark is one of the leading players in the commercial real estate scene, providing advisory, broking, property management, and market intelligence services to owners, occupiers, investors, and companies. The $2.9 billion group operates with over 8,400 professionals across 165 offices worldwide – though, until now, it had no presence in the Gulf Cooperation Council (GCC).
The inaugural GCC office in Dubai is located at Dubai Hills Business Park, and is led by Stefan Burch, who has been brought on board as a Senior Managing Director.
“As a major source of real estate capital, the Middle East is an exciting and dynamic place for us to be,” said John Busi, President of the Valuation & Advisory practice.
Unpacking on the growth potential for Newmark in the GCC, Burch highlighted the pivotal role the region plays in the global commercial real estate landscape, particularly in player in sectors such as finance, tourism, retail and hospitality.
“The Middle East has attracted substantial international investments, emerging as a leading market for commercial real estate transactions, particularly in innovative project developments and infrastructure expansions. Its commitment to visionary urban planning and sustainable building initiatives further enhances the market’s attractiveness, making the region an essential focus for investors looking for long-term growth and development opportunities in real estate.”
With one of the highest occupancy levels in the world, and a continued stream of new investments, commercial property in places like Abu Dhabi, Dubai and Saudi Arabia are booming, according to recent research reports from Savills, CBRE and ValuStrat.
Stefan Burch
A 20-year real estate professional, Burch has firsthand witnessed and contributed to the sector’s rapid evolution, and is now keen on leveraging his experience to help Newmark establish a leading position in the advisory landscape.
Prior to Newmark, he was a partner and Head of Real Estate at Deloitte, and before that, he spent around a decade at Knight Frank in the Middle East, where he established and ran its advisory business in Saudi Arabia and Bahrain. He began his career at Cluttons in the UK, before relocating with the firm to the Middle East.
Burch specialises in real estate development advisory, asset management, real estate valuation and hospitality & leisure services to public and private clients including government-related entities, corporate developers and family groups.
“Stefan is a masterful and experienced operator, having launched and built incredible valuation and advisory businesses in this region previously,” said Busi. “With his hire, we have achieved an industry trifecta: right place, right time and absolutely the right person.”
“I am honoured to be tasked with establishing our Dubai office and growing the firm’s Middle East capabilities,” noted Burch. “I look forward to supporting clients through Newmark’s best-in-class platform.”
Sourced from Consultancy-me.com