Engel & Völkers opens Market Center in

• E&V seeking to recruit 250 sales advisors in Dubai by end of the year • Joint Venture with Dubai-based property developer Nakheel

Hamburg/ Dubai, 12 May 2015. The opening of its Market Center (MC) in the Arab Emirate of Dubai marks the latest stage in the expansion of Engel & Völkers. It spans 850 square metres in a prime location close to -famous island project “”. The MC accommodates 250 real estate agents and is dedicated to the brokerage of high-end real estate throughout Dubai’s entire metropolitan region. In addition to these central office premises, the MC concept also envisages the opening of at least two property lounges in strategic locations throughout the city, aimed at initiating contact with potential clients.

Dubai is the largest city by population in the . Known as a central axis linking the East and the West, it boasts one of the fastest growing property markets in the world. “The economy has been particularly strong for some time now. Prices have been stable at a high level since 2012. This is ideal for a real estate company in the premium segment like Engel & Völkers,” said César Latrilla, Managing Director of Engel & Völkers in Dubai, of the current market climate.

The level of construction activity in the Arab metropolis is also very high once again, according to property expert Latrilla. This is giving a significant boost to investor interest. The market is dominated above all by buyers from the United Arab Emirates as well as India, Pakistan and Europe. Demand is focused on the island “Palm Jumeirah”, top addresses in Dubai Downtown and , “Al Barari”, “” and “Dubai Land”. Penthouses in the world- famous “” at the heart of the city are also extremely desirable. Top homes in Dubai are selling for anywhere between 750,000 and 30 million euros.

Excellent prospects thanks to joint venture with Nakheel Engel & Völkers is opening the Market Center as a joint venture with Nakheel, one of the world’s leading real estate developers. Nakheel’s projects include “Palm Jumeirah”, “The World”, “”, Deira Islands”, “Dragon City” and “”. Both firms have entered into this joint venture with the aim of rapidly gaining a high share in Dubai’s market for premium residential property brokerage. It will enable Engel & Völkers to tap into this key strategic market with greater speed and efficiency. The partnership gives Nakheel access to the international Engel & Völkers client base.

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Captions: (Source: Engel & Völkers Dubai)

1. [Burj Khalifa 1 + 2] At 818 metres high, “Burj Khalifa” is the tallest building in the world and a desirable prime address in Dubai. This exclusive apartment on the 52nd floor has two bedrooms, an open plan kitchen, a commodious living room and breathtaking views over the city. It is being offered by Engel & Völkers for approx. 1,875,000 million euros.

2. [Penthouse 704] This exclusive penthouse spans around 5,300 square feet in total (approx. 492 square metres), with four bedrooms, full-length panoramic windows and walk-in wardrobes. The property also features access to a private beach, garden and swimming pool. It is for sale at an asking price of approx. 3,019,090 million euros.

3. [Villa Emirates Hills] Spanning some 19,930 square feet (approx. 1,859 square metres) in the exclusive gated community of “Emirates Hills”, this luxury villa features five bedrooms, six bathrooms, three garages, a garden with an outdoor pool and close proximity to a golf course. The sale price is approx. 9,714,080 million euros.

4. [MC Dubai 1 + 2] The Engel & Völkers Market Center is 850 square metres in size, offering space for 250 sales advisors.

You can download the images in high resolution here: https://www.dropbox.com/sh/ntqyk6h5tgix4g6/AADTNHSTer3XG8XfK4KdMtKea?dl=0

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For further information please contact:

ENGEL & VÖLKERS AG Princess Bettina Wittgenstein Head of Global Corporate Communication Stadthausbrücke 5 20355 Hamburg Germany Phone: +49 40-36 13 11 20 Fax: +49 40-36 13 12 35 [email protected]

About Engel & Völkers: Engel & Völkers is one of the world’s leading service companies specialised in the sale and rental of premium residential property, commercial real estate and yachts. With its licence system, Engel & Völkers is the only Germany-based firm to rank amongst the top 100 franchise companies in the world.* Around 570 residential property shops specialised in high-class real estate and 65 commercial offices brokering office, retail and industrial space, investment properties, multi-purpose apartment and office blocks and property portfolios offer both private and institutional clients a professionally tailored range of services. Leasing, sales, consultancy and valuations form the core competences of the staff of around 5,900 employees. The Company is currently operating in 38 countries on five continents. Intensive training schemes in its in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the Company’s success. In 2014, Engel & Völkers was named “Top National Employer” by the German news magazine “Focus”. In the same year, the company achieved the top position in the broker ranking lists published by both the German Customer Institute (DKI) and the financial magazine “Euro am Sonntag”. Moreover, Engel & Völkers is the winner in the category “Best Company Brand” at the “Marken Awards der Immobilienbranche” (“Property Industry Brand Awards”) hosted by the ImmobilienScout24. www.engelvoelkers.com

* Source: Franchise Direct “Top 100 Global Franchises Ranking 2011”

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