DUBAI, UNITED ARAB EMIRATES: Dubai-based boutique real estate firm Mallorca Commercial Real Estate Advisory has been inducted into the prestigious Diamond Club by the world-leading property developer - Nakheel - for its outstanding contribution and stellar achievements in the regional property market.
The awards are recognized as one of the benchmarks for excellence in the regional property and real estate industry. The highly sought-after The Exclusive Diamond Award was presented to Mallorca Commercial Real Estate Advisory by Naaman Atallah, chief executive officer, Nakheel, and Rasha Hassan, chief commercial officer, Nakheel
The grand awards ceremony held at the newly opened Anantara resort at the World Island witnessed Mallorca founder and chairman, Fakhreddin Minooeifar accepting the award. With more than 20 years of experience as a top property expert, Fakhreddin has established himself as one of the most knowledgeable and respected professionals in the region.
Over Half a Billion Dirhams Land Transaction
In 2021, Mallorca Commercial Real Estate Advisory made headlines after securing one of the biggest land transactions in Dubai history valued in excess of half a billion dirhams. In the context of a generally challenging market situation at the time, the move demonstrated the boutique commercial real estate specialists’ capability and credibility in the industry.
“The Exclusive Diamond Award by Nakheel on the back of sealing Dubai's most expensive land transaction reaffirms our position as a client-focused and excellence-driven company. We aim to be the international benchmark for the region over the next five years and with a firm finger on the pulse we are now looking forward to Dubai becoming the epicenter of economic progress. We will continue to achieve such milestones in the real estate market while keeping clients’ interests at the center of our strategy,” said Fakhreddin.
Mallorca, which has secured deals worth over US$3 billion in the past decade, was founded in 2002 by the Founder and chairman Fakhreddin, with a vision to fill the void for large volume transactions. Headquartered in Dubai, Mallorca has expanded its operations to Europe in 2019 with a base in Paris, France.
Today Mallorca commercial real estate advisory is established as a formidable player in the regional real estate industry renowned for providing highly personalized service in the acquisition, structuring, operating, and selling of commercial assets.
The firm explores its vast network of local and international property experts to link buyers directly with owners of opportunities not yet listed on the market. Fakhreddin disclosed that Mallorca Commercial real estate advisory currently holds on the books over 70 billion dirhams worth of properties from sellers.
Mallorca has also been recognized by the Dubai Land Department as leading experts in restructuring stalled projects. Mallorca successfully transformed a stopped government housing scheme into a striving 4 million square freehold residential community.
The exclusive Diamond Award is the latest in a series of awards previously received by the firm. In previous years Mallorca was awarded the title of Real Estate Company of the Year by the Luxury Network and Best commercial Real Estate Brokerage Initiative by the Dubai Land Department at the Gulf Real Estate Awards.