UK boutique luxury real estate firm and private office Montague Real Estate has announced the appointment of Luke Banks, formerly of Dubai luxury property developer Sobha Realty, as the head of their newly formed Middle East division.
The move into the Middle East marks the first major international expansion for Montague Real Estate, which is looking to enter a number of other new markets – including the US – in 2021.
The Montague's regional launch will be spearheaded by Banks, who has worked within the Middle Eastern Real Estate market for nearly ten years.
Prior to his former role as UK Country Head at Sobha Realty, Banks was a senior consultant and manager at a number of Dubai-based real estate firms, including Dubai Properties, Omniyat Official and Lannhill Real Estate.
He will initially be based in London, with plans in the pipeline to open a physical office in the UAE next year. The proposed office will serve as a wider Middle Eastern hub for Montague Real Estate, with Banks heading a team of regional investors and agents.
In his new role, Banks will be responsible for securing super prime listings, off plan sites and development sites for private investors and developers, said the top developer in its statement.
As part of Montague Real Estate’s new 360-degree approach, Banks and his team will also be focussed on providing regional business, investment and lifestyle opportunities and consultancy, including to those moving to the UAE from abroad, it stated.
Founder and CEO Thomas Balashev said: "Our expansion into the Middle East is a huge milestone for us. Our clients are at the heart of what we do, and we believe they want more than just another estate agent selling them property."
"Our new strategy will enable us to add value in so many other areas of their lives – from investments to lifestyle – with real estate serving as the anchor," he stated.
Welcoming the appointment, Balashev said: "We are thrilled to have Banks join us as head of our new Middle East division."
"His expertise and track record speak for themselves, and we look forward to him establishing our brand with new audiences and clients across the region," he added.
On his new role, Banks said: "Since I first met Balashev it was clear we were aligned on a vision for our clients, our ambitions and how we wanted to deliver."
"I believe there are really, really bright and exciting things to come from Montague Real Estate and joining as head of a new international division is hugely exciting," he noted.
"The positioning of the UAE makes it a key hub for clients from the US, Asia and Europe – being able to cross those time zones and cultures is a great leap forward for the Montague brand," he added.-TradeArabia News Service
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