Gulf Sotheby’s International Realty, in a strategic move, has acquired UAE real estate brokerage Ere Homes in a full buy-out deal that will see the luxury real estate firm strengthen its resale and leasing divisions, as well as add property management to its offering.

With the GCC real estate market softening, Gulf Sotheby's International Realty has been in acquisition mode since last year; a strategy the company plans to continue in 2016.

This move will double the company’s staff base and grow its sales force to more than 90 global property consultants.

Gulf Sotheby’s International Realty said it was attracted to the award-winning firm for its similar people-centric approach to management and operations, its robust data-backed sales processes and strong track record of success.

Established in 2010, Ere Homes has developed into one of the UAE’s leading real estate brokerage firms under the leadership of real estate industry veteran Chris Whitehead.

"This acquisition brings together two like-minded real estate companies that have built their success on the knowledge and capability of their people," remarked George Azar, the chairman of Gulf Sotheby’s International Realty.

"It allows us to plug a gap in our respective service offerings to become a leading full-service real estate company in the Gulf region. Ere Homes, headed by the talented and accomplished Whitehead, will add great value to Gulf Sotheby's International Realty and assure us a major position in the market," he added.

Whitehead, the managing partner of Ere Homes, will continue to lead the new brokerage division at Gulf Sotheby’s International Realty as managing director in charge of the sales and leasing division.

On the new role, Whitehead, said: "We are honoured that our reputation, services, and processes have been recognised by one of the world’s leading real estate networks and are looking forward to improving our capabilities as part of the Gulf Sotheby’s International Realty team."

The Sotheby's International Realty network currently has more than 18,800 sales associates located in approximately 835 offices in 63 countries and territories worldwide.

The network was designed to connect the finest properties to the most prestigious buyers and investors in the world.

Azar said: "2015 was a record year for Sotheby’s International Realty transactions, and the brand continues to expand into key markets."

"With Gulf Sotheby’s International Realty having acquired the rights to deliver real estate services in Bahrain, Kuwait, Oman, Saudi Arabia and Qatar, the entire Gulf region is poised for significant growth," he added.-TradeArabia News Service