Specialist in French & International properties

United Arab Emirates, June 9th 2015

The new property agency in the United Arab Emirates (formerly named as Al France Property) developed new real estate services and now became VENDOME INTERNATIONAL PROPERTY (VIP). The agency, freshly based in Dubai, increased sales revenue by 50% from GCC investors between 2013 and 2014.

Few years ago, Al France Property was launched in order to meet its client's requirements for French properties. In 2015, the company decided to expand its network and take the company to a next level, where it will not only offer real estate services in France but also in the most iconic cities around the world under its new branding name VENDOME INTERNATIONAL PROPERTY. In 2014, the real estate agency reported sales of 22 320 000€ from GCC investors in comparison to 11 500 000 € in 2013. It is interesting to specify that UAE nationals present 13% of the total sales while Kuwait and Saudi buyers were 50% and 25% respectively. However, lower number of sales in UAE is not because there was a drop in number of sales transaction carried out but only because VIP increased its activities in Kuwait and Saudi Arabia.

With this new name and branding, VENDOME INTERNATIONAL PROPERTY plans to offer a range of property services and investments in countries like Spain, Morocco and many more to come in future. At the same time, French Real Estate will continue to be a focal point.

Despite changing the name and branding, company values remain unchanged:  commitment, integrity, loyalty, unbiased advice and personal relationship.

Dubai shall be hosting World Expo in 2020 and is expected to attract 25 million visits, 70 percent of which will be from overseas. With the projects for Expo 2020 underway, it is bringing lots energy and potential to the business. VENDOME INTERNATIONAL PROPERTY feels it would be a perfect opportunity to meet clients from various backgrounds in Dubai office during the next coming years.

Marie MAHMOUCH, general manager of VENDOME INTERNATIONAL PROPERTY (VIP) says: "we have chosen Business Bay to establish our new offices, for its central location in the heart of Dubai". MAHMOUCH explains, "Undoubtedly Dubai is the Business Capital of Middle East. Business Bay is centrally located between the old and new Dubai. Thanks to the road networks, it's easily accessible from all the emirates. Apart from being a business hub, it is very close to the most attractive areas like Downtown Dubai and City Walk, which is coming soon. At the same time, Business Bay is not far from the airport. We shall be welcoming our clients from other GCC countries, whether they're coming for business, weekend stop over or for shopping". To conclude, she added: "we see ourselves growing in the most happening and dynamic city". 

While Dubai becomes the new regional head office, VIP agency already has a branch in Kuwait and shall soon be opening its first office in the Kingdom of Saudi Arabia, in Riyadh to be even closer to the clients.

In the 1st Quarter of 2015, UAE investors represent 40% of the total sales, while KSA represent 32% and Kuwait 20%. International Property Show Dubai 2015 which was held in April helped VIP to boast to momentum.

In the coming years, VIP CEO foresees an enjoying healthy growth. Laurent Bailet, the CEO of VIP, said, "I completely understand how difficult it could be to take decision of buying property especially in foreign countries. So, I decided to make it an easier and pleasurable experience for my clients by opening number of offices in the Middle East. This will help us to stay closer to our clients and offer them services at their doorstep. Bailet further added, "My father setup the business 35 years ago. It has been a family business ever since. The business environment in all of our offices is family oriented and welcoming, as we treat our staff and clients part of our growth. We have been successfully dealing with the clients from Middle East for more than 15 years now. This has given us most valuable experience, understanding to their requirements and needs"

The Middle Eastern culture is family oriented. When one person feels comfortable with an area, the developer or the project, he will be glad to bring his family with him. VIP understands that and offers tailor-made services to Middle Eastern clients, as well as a perfect balance between quality and affordable prices. Another driving factor for investors from Middle East is the exchange rate from local currencies to Euros. Euro is at its weakest position at the moment. This is really encouraging for the local investors to spend in Europe, buy trophy assets, holiday homes and save up to 20% in exchange rate.

-Ends-

ABOUT VIP:
VENDOME INTERNATIONAL PROPERTY, previously well-known under Al France Property name, is managed by a very well established developer from France, based in the famous spa town of Evian. With 35 years of industry experience and wealth of knowledge, projects are always backed by the bank guarantee, delivered on time and with the same quality that the company promises.

In 2015, VIP clients received 33 apartments and villas sold Laurent BAILET, himself, delivered 50 properties last year. There are further 150 properties under construction, which will be handed over between 1st quarter 2016 and 1st quarter 2017. Those properties were sold in 2014 and in the 1st Quarter of this year.

VIP is extending its expertise to provide real estate services in other countries. The company is very selective and is working with strong developers in Spain, Morocco and Sultanate of Oman. During summer, VIP will explore the unexplored markets of Germany, Italy and Greece, which are popular with GCC residents.

For more info: www.vendome-property.com/

Contacts:
Marie MAHMOUCH
General Manager
Mail: marie@vendome-property.com

Press / Media:
Miryem OUKAS MESSIDI
Head of communications - Press office & Regional Development
Mobile: +971 (0)55 478 32 15 / miryem.oukasmessidi@businessfrance.fr

© Press Release 2015