NAI Global Announces New Member Firm in Dubai
NAI Global Announces New Member Firm in Dubai
Lemar Property Joins Largest Independent Member-Owned
Real Estate Network in UAE as NAI Dubai
New York – November 4, 2015 – NAI Global, the single largest, most powerful global network of owner-operated commercial real estate brokerage firms, today announced its newest Member firm, NAI Dubai, formerly Lemar Property. Under the direction of Mr. Parham Shariat, Director, NAI Dubai brings in-depth knowledge of Dubai’s fast paced and ever-changing marketplace, offering a wide range of commercial real-estate services. The full-service brokerage and advisory firm focuses on the retail, office, education, healthcare, hospitality, and industrial sectors, providing clients with evaluation, leasing, acquisition and disposition transaction management services in UAE, Oman, and Kuwait.
“Dubai is the preferred destination for many companies looking to make inroads into the Middle East and North Africa (MENA) region and is often the most viable option when selecting a location for a regional office in this market, attracting locals, other Arab nationals and expatriates throughout the region,” said Jay Olshonsky, President, NAI Global. “It was critically important that we select a firm with deep local market knowledge and the ability to act quickly and creatively to secure the best opportunities. We are pleased to offer NAI Global Members and their clients access to this important and tremendously competitive market through our newest Member, NAI Dubai.”
“We are eager to play a role in expanding NAI Global’s presence here in the region, and look forward to assisting local investors grow their business through NAI Global Member firms worldwide,” said Mr. Shariat. “We saw an increasing number of Gulf Cooperation Council (GCC) investors and developers interested in diversifying their portfolio by expanding globally. Our presence allows those investors to have a local advisor that can act as a trusted liaison through the NAI network by providing a deal flow of quality investment assets.”
Mr. Shariat notes the events in neighboring countries often positively affect the commercial real estate market in Dubai, as it has proven to be attractive to investors and has continued to perform efficiently. “The 2002 law allowing foreigners to hold 100% ownership to properties in certain areas in UAE, similar to GCC nationals, coupled with zero tax law and local currency (dirham) being pegged to US dollar, helps Dubai continue to remain a strong market for international investors. The retail, education and healthcare sectors are expected to provide investment opportunities through 2020. Often there is a waiting list for retail space in malls, and according to several private and public market studies, the existing and planned educational facilities will not be sufficient to meet the demand for several years.”
He adds, “We assist international organizations in understanding the process of conducting business in a dynamic, multicultural market such as Dubai, and develop customized solutions and strategies for our clients. Not only does our affiliation with NAI Global enable us to offer a broader world view and access to additional markets, but through NAI Global’s Corporate Solutions team we can also introduce international brands to the Dubai market.”
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, online capital markets, title services and multifamily property management. C-III’s principal place of business is located in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.
To learn more, visit www.naiglobal.com.