Coldwell Banker UAE, one of the biggest names in global real estate arena, said it has shifted its headquarters to the Downtown Burj Dubai.

It will soon open a branch in Dubai Marina, the company said.

This emphasizes the company’s strategy to reach realty stake holders, in need for trustworthy advice at a time of recession, said a company statement.

Having been in real estate since 1906 and lived through several set-backs and economic cycles across the globe, Coldwell Banker in Dubai reflects the brands nature for survival and professionalism.

Coldwell Banker sees opportunity at a time others feel threatened, as done by their founding fathers when the brand was born, the statement added.

In 1906, an earthquake in San Francisco created the need for an honest, customer-focused realty service provider.

Young real estate agent Colbert Coldwell saw the need for this to help rebuild the city. He was not in favor of the common practice of that day where real estate agents bought properties for themselves, mostly from unaware and distress sellers at absurdly low prices, and then resold to them for huge profits.

That is when he decided to set-up a brokerage firm with transparent procedures. They carry on these virtues till today and believe their value for ethical practice and transparency has helped them grow to a worldwide scale of 3,600 offices, the statement said.

Dubai is now evolving and undergoing a market correction. Brokerage houses that have the skill-set can service a changed real estate market and will provide added value for the investor and end-user.

Therefore Coldwell Banker UAE has taken a step forward and upgraded its office space, to hold a highly professional, experienced workforce in order to be easily available to those in need during this difficult period.

Those who don’t have the expertise and experience will be filtered out, leaving a pool of quality driven brokerage firms, it said.

The pace in activity has slowed down dramatically but transactions have not and will never stop completely. In time people will regain confidence in Dubai, defining it as an attractive and maturing market.

Ayman Youssef, the newly-appointed Vice President for Coldwell Banker UAE, said “With our expansion plan in action, our move to Emaar Square in Downtown Burj Dubai is a step forward in portraying a sense of assurance to the many troubled real estate stake holders as well as reinstating our strength in the market.'

'The message we want to send is that we are credible, still here and keen to provide our property consultancy services.'

'Our premium state-of-the-art business facility, reachable locality and support tools form the bedrock of our client focused approach. We are eager to provide our know-how and experience Dubai in its new phase,' Youssef added.-TradeArabia News Service