Business & Money | Sunday 7 June, 2015 1:59 am |

Chestertons, the international property agency established in 1805, has created a new ‘International Properties’ arm that will focus on EU based properties for UAE investors. This new division will also help the Emiratis to explore several new investment opportunities due to the current visa-free-travel status in the Schengen zone. The company will facilitate UAE investors to buy properties in Spain, Monaco, Cyprus and several other EU countries from its office in Dubai. Chestertons has recently appointed Brennon Nicholas as the Head of International Sales for this new division. In the near future, this new division will also help the investors with opportunities to invest in Monaco, Barbados and several other countries.
“Buying an international property always throws up several questions in the minds of the investor. Market knowledge, the correct price and the potential growth prospects of the property are some of the key parameters that should be considered by the investors. Furthermore, these investors should also be aware if the legalities and rules that apply in these countries before making an investment. However, this is not an easy task for an investor to gauge the potential or understand the features of the property without expert help and timely advice,” said Simon Gray, Managing Director, Chestertons MENA.
“We have created this new division to provide the Emiratis and UAE investors with a window to explore these opportunities and do the due diligence right here in Dubai. We are currently looking at some of the EU countries that have huge growth potential such as - Spain. It is also an ideal situation for UAE investors to buy their second homes, as the US dollar which is pegged to the UAE dirham is getting stronger, and the Euro is drifting onto the weaker trajectory at the same time,” added Simon.
The company’s portfolio of properties ranges from apartments to multi-million Euro grand estates in Spain encompassing Marbella, Mallorca, Ibiza and Barcelona. With the international buyer in mind, Chestertons also offers assistance to foreign buyers with airport transfers and familiarisation tours. The company has three offices in Spain that includes Marbella, Sotogrande, Barcelona and one in Gibraltar.
“We have significant experience in helping buyers find their ideal overseas property, whether it’s for a permanent move overseas, a holiday home or a real estate investment opportunity. The financial markets are expected to be a key driver in the uptake of prime residential property in European markets such as mainland Spain, Mallorca and Ibiza during 2015. With the increase in demand for foreign property by Middle Eastern buyers, Chestertons is now able to offer an extensive range of international property options from their MENA Head Office in Dubai. With offices across the globe Chestertons is well placed to offer a wide selection of properties to even the most discerning buyer,” added Brennon.
Chestertons MENA has developed a team of proficient surveyors who specialize in property appraisals. With a network of 70 offices in 16 countries and five continents, Chestertons is rapidly establishing itself as the leading international consultancy partner for property, vehicle and equipment appraisals in the Middle East and Asia.