Savills has agreed a strategic partnership with United Arab Emirates’ largest property services company Asteco to extend its operations into the Middle East.
Under terms of the agreement, Dubai-based property services firm Asteco will adopt Savills branding.
The association has been designed to give clients of both companies improved access to real estate investment opportunities worldwide. Asteco will benefit from greater international reach via Savills’ global network of offices, while Savills will tap into the investment potential from clients in the region as well as focus on the development opportunities.
Founded in Dubai in 1985 with 200 employees, Asteco is the United Arab Emirates’ largest property services company. It operates a network of offices across the UAE in Abu Dhabi, Sharjah and Al Ain. Asteco also has offices in Saudi Arabia, Bahrain, Qatar and Jordan.
‘Developments in the Middle East continue to be the talk of global real estate forums’, said Jeremy Helsby, chief executive of Savills Commercial. ‘We see this association as a strategic move for Savills to provide a platform to access and service Asteco’s extensive range of clients wishing to invest in property worldwide.’
Elaine Jones, chief executive officer of Asteco, added: ‘Increasingly, we are seeing the need to combine our regional expertise with international reach, and our association with Savills will provide greater flexibility, asset choice and a higher level of research and consultancy to our client base.
‘At the same time, we provide a point of access to the maturing Middle East marketplace with 22 years of experience to help guide investors in all property sectors.’