Real estate will always be significant in the United Arab Emirates and it proves the fast grow of the country. For many years UAE economy was heavily dependent on oil but now it has been diversifying and real estate was one of the major diversifications. This sector attracts a large amount of FDI, induces the related industries and releases the economic vigor. This is evident in world renown construction such as Dubai high rise buildings and royal specious holiday resorts.
Real estate also accelerates employment generation because it requires human resource which is deployed in construction companies, architects, engineers and planners. Retail, hospitality and services are also created through employment, which contributes to the stability of the economy. It brought about development socially through the establishment of home units and other related facilities such as commercial centers, amusement places, and educational institutions resulting into a high quality of life and fellowship of the population.
In terms of culture, UAE reflects a modern image with roots in the past in case of architectures such as Burj Khalifa and The Palm Jumeirah. These landmarks are impressive statements of technological and architectural development, which pay homage to the Arabic traditions in design and bring in international visitors and businessmen.
Real estate is also another market that has attracted the attention of international investors due to the good policies and regulation, tax exemption, and other policies that have been put in place. A significant share in the purchase of luxury properties and operating commercial space, strengthen the position of the UAE as an international financial center.
It is in that context that we introduce you to the senior personalities that are propelling the UAE’s dynamic real estate markets.
Real Estate Legends 2024
- Ben Bandari.
- Honey Deylami.
- Riad Gohar.
- Conor McKay.
- Anthony Abou Jaoude.
- Rasha Ibrahim.
- Kianoush Darban.
- Barnaby Crompton.
- Sarah Serhan.
- Chris Boswell.
- Sam Horani.
- Charlie King.
- Andrew Cummings.
- Fabricio Saltini.
- Ezio D’Ercole.
- Joelle Raad.
- Fabio Lombardi.
- Fakhreddin Minooeifar.
- Philip Zarif.
- Farooq Syed.
- Mohammed Fares.
- Qurat Ul Ain.
- Soufie Jnidee.
- Lina Allaoa.
- Leigh Borg.
UAE Real Estate Legends
Ben Bandari
- Rank: 01
- Designation: Founder
- Company: Lessees include Ben & Core Real Estate.
This profile of Ben Bandari proves that he gained huge experience and knowledge associated with the real estate industry along with the spirit of an entrepreneur. Currently recognized as one of the industry’s most accomplished specialists of over 22 years, he controls sales at over AED 22 billion and has overseen significant projects such as Palazzo Versace condominiums and D1 Tower. He started the Ben & Core Real Estate in 2020, when pandemic ruined most businesses proving that he can handle even tough economic situation. He has an MBA type of education, something which he supports with deep rooted and firm marketing knowledge. Bandari is also engage in sales and marketing consultancy in R. Evolution real estate limited.
The office of Bandari has been founded with principles of strict truth and morality and has focused on the participants of the high level, titans of business, politicians, celebrities and rulers. His presence in the Emmy nominated show Million Dollar Listing UAE speaks of his authority and input of the profession.
“ I do not consider working in the Dubai real estate market just a job or a career but a lifestyle” Bandari says. ‘You need passion for this business’, for all its a success story now there is no time to rest, the market remains equally cutthroat as before. ’
Honey Deylami
- Rank: 02
- Designation: Executive Partner
- Company: Dubai: Sotheby’s International Realty
One of the best brokers at Dubai Sotheby’s International Realty is Honey Deylami with working experience of more than 19 years. On the same note, she has over the years close record breaking deals especially within luxury property market in Dubai where she participates in property valued at and above AED30m. Here analytical thinking and depth of market knowledge make her an excellent investment advisor and property consultant. The total turnover of the transactions was over AED 20 billion, and Deylami’s experience ranges across the world while it takes the responsibilities of managing luxury property portfolios all over the world.
Most popular for her outgoing nature when it comes to market matters, she facilitates that clients achieve good strategic positions. While the company’s current of list of luxury property listings currently has over AED 5 billion worth of luxury properties in Dubai and over £ 1 billion across the rest of the world. Everything indicates that among developers she is well reputed and it is heard that she is invited before large-scale releases.
“You can bet that if Honey is listing your property the price is going to rise before she even picks the phone,” a friend notes.
Riad Gohar
- Rank: 03
- Designation: CEO
- Company: BlackOak Real Estate
Actor, pharmacist, and real estate businessman are the professions which can be attributed to the career of the famous man Riad Gohar. He established a small agency during Dubai property market in 2005, and later relaunched the company under the international fanchise of Fine & Country. After dominating the brokerage, he established the development wing of the SLS hotel brand which recorded AED600 million in sales in the first year alone. He subsequently formed a real estate investment firm known as BlackOak Real Estate a high-net-worth boutique investment house that dealt in select projects and superior quality assets. Gohar being a part of the Million Dollar Listing UAE which was nominated for an Emmy also increased his fame.
Besides in real estate business, Gohar is very much committed to his children, has passion for music, and is a sports nut. He has reached two of the Seven Summits and is taking Mandarin lessons. Gohar’s partnerships with the Dubai Chamber of Commerce and his views on market trends and sustainable economic development have influenced the consideration of such matters.
Conor McKay
- Rank: 04
- Designation: Broker
- Company: Bellview Real Estate
A notable personality in high end luxury property market, Conor McKay is based in Ireland. More specifically, McKay is the most renowned broker in Emirates Hills, Palm Jumeirah, and Dubai Hills; moreover, he reached global fame in 2022, brokering the sale of the most expensive property in Dubai. Some of his successes are; selling AED 1. 12 billion worth of real estate in 2022 and AED 750 million in the preceding period. Having been endorsed among the most outstanding ten estate agents in UAE by PropertyFinder; the Middle Eastern property portal. In Q1 of 2024, McKay sold the two most costly villas in Dubai that total to AED500 million.
McKay was motivated by the reality programme ‘Million Dollar Listings Los Angeles’ and moved to Dubai in 2017 on a one-way ticket, he received initial rejection for a job because of his inexperience and age at first but got a chance to work for a brokerage firm. His first deal in Dubai was rental then by December, 2018, he made his first villa sale. McKay was established to be prominent due to the achievement of selling a villa located at Palm Jumeirah with 10 bedrooms and 70 meters of private beachfront for AED 280 million. He is only 26 years old now and according to the insiders, he is already preparing to reign absolute at the top of the rankings shortly.
Anthony Abou Jaoude
- Rank: 05
- Designation: CEO
- Company: Primestay
Anthony Abou Jaoude is a versatile real estate personality who is associated with Primestay as its chief executive officer and works as an associate partner with Provident Real Estate. Being a provider of a complete package of services to property owners and also his active managerial position, he has been the Top Broker in Dubai starting from 2018 and the Emaar Top Sales 2020 Award laureate. Abou Jaoude was born in Kent, Ohio, but grew up in Lebanon; she possesses academic degrees in advertising, marketing, and psychology obtained at Notre Dame University in Lebanon. He opened MRE961 in Lebanon where he was able to manage the company up to 2013.
After saving $500, he Boy left his home in 2014, to Dubai and within a short timeframe of working at Provident Real Estate he was promoted several times. Having achieved well-deserved reputation in the sphere of off-plan investment, Abou Jaoude deals with property management, vacation home letting, and interior design. He has an online academy for apprentice real estate and avails the podcast called “Dubai Stars” which has success stories and tips. His books which are “Take Charge and Take Action” are among the top bestsellers on the largest online shop, Amazon, with additional information on the real estate market in Dubai. Special focus on customer satisfaction and other key areas are well managed under his leadership of Primestay.
Rasha Ibrahim
- Rank: 06
- Designation: Senior Sales Manager
- Company: Metropolitan Premium Properties
Rasha Ibrahim who is an Egyptian girl with the French education has successfully established herself in the luxury real estate market. Having begun to work at the age of 16 as a translator at international exhibitions her concern with real estate business was emerging. This gave her a luxurious experience that saw her churn out a managerial position at the presidential airline of the Al Nahyan royal family in Abu Dhabi. However, being a talented aviator, Ibrahim’s passion was on real estate and for this she worked in the fortnight of aviation while working part-time in real estate.
Earlier, she began to work in Meraas / Dubai Holding part-time and in 2018 she continued her work there on a full-time basis and soon she showed excellent results in sales. After 2021, she achieved a great deal, for she managed to sell more than AED 1 million worth of her artwork. Investment of 5bn in real estate and being awarded as the Number 1 Sales Achiever Black Onyx Award from Meraas in 2022. Concentrating on luxury goods, she is called the ‘Queen of Bulgari Island’ due to her record sales in the given place. Looking at how Ibrahim has deemed fit to conduct herself in her business, working hard and so rigid in the luxury real estate niche, she stands out among the rest.
Kianoush Darban
- Rank: 07
- Designation: Associate Partner
- Company: Driven Properties
In the UK, Kianoush Darban Tehran born began his real estate career in 2012. Currently, he is a leading luxury property broker in Dubai that registered many achievements: he sold the villa on Jumeirah Bay Island for AED 175m. Due to Darban’s dedication as well as exceptional work, Property Finder has rewarded and identified him for his outstanding work and creativity.
Barnaby Crompton
- Rank: 08
- Designation: Founder
- Company: Crompton Saltini
Barnaby Crompton has got 24 years of experience in the estate business and shifted to Dubai in 2008; he deals in Emirates Hills mainly. He is the founder of Crompton Partners Estate Agents, later Crompton Saltini which sold the most expensive house in Emirates Hills, the XLV Residence. Crompton occupies a prominent place in the sphere connected with super prime real estate market, and people speak about him as about commercially reasonable and ethical person.
Sarah Serhan
- Rank: 09
- Designation: Associate Partner
- Company: Ben, and Core Real Estate
A]ore of New Zealand origin Sarah Serhan has been living in Dubai for the past 11 years, and she focuses on the upper bracket of the property market particularly those in Dubai Hills Estate involving villas. The above challenge notwithstanding, she was able to sell more than AED 100 million worth of properties in 2023 alone. Serhan predicted to become one of Dubai’s outstanding stars in luxury real estate due to her tenacity and market insight after attending Ben & Core Real Estate in 2024.
Chris Boswell
- Rank: 10
- Designation: Consultant
- Company: Edwards and Towers
Chris Boswell being in the industry since season 2006 is recognized in the Dubai luxury real estate market. He has what could be considered benchmark numbers for price per door and some of the best sales on Palm Jumeirah Island. He was able to sell one of the elite villas in the Jumeirah Bay during the Q1 2024 at $42. 2 million making them a force to reckon with globally in the real estate industry.
Sam Horani
- Rank: 11
- Designation: Associate Partner
- Company: Provident Real Estate
Some of the spectacular sales and achievements include the Syrian named Sam Horani who resides in Dubai from 2002 succeeded in selling a five bedroom penthouse in Como Residences for a record AED500 million ($136 million) and this was labelled as the most expensive in the penthouse category. More popular as an adversary of Nabil in the preceding seasons, Horani quit being a kitesurfing instructor in 2017 and joined real estate. His creativity and business strategy, those focusing on the development of long-term partnership, guided him through the success in the company at the Dubai luxury market.
Charlie King
- Rank: 12
- Designation: Partner
- Company: Allsopp & Allsopp’s Private Office
Meet Charlie King, a 12 plus years real estate agent and a current record holder as the biggest seller of ultra-luxury homes in Dubai. In 2023, he closed the biggest number of square feet deal in the company’s history, Al Barari. Allsopp & Allsopp’s Private Office is imaging by King as a premier advisory with tailored experiences and high-end products for the UHNW clients. Analysis of his activities reveals that his leadership and dedication are crucial to his functionality in Dubai’s ultra-luxury real estate industry.
Andrew Cummings
- Rank: 13
- Designation: El funcionario que lidera los proyectos de viviendas, ME
- Company: Savills
Andrew Cummings is a former senior government employee, the multi-award-winning broker, the only agent to be named ‘Dubai’s Outstanding Agent of the Month’ twice in one year by PropertyFinder. Over and above this, he sold AED760 million worth of commercial property in the same year 2023. As the head of residential at Savills, his goal is to increase the business throughout the Middle East and to always provide quality services to the clients while tapping on the international resources of Savills.
Fabricio Saltini
- Rank: 14
- Designation: Founder
- Company: Crompton Saltini Real Estate
Brazilian expatriate Fabricio Saltini has been living in Dubai for 16 years; he has been in the luxury real estate market 13 years. He has been renowned for his adherence to the principles of knowledge, partnership, and customer care hence clinching multilateral deals that have bordered on billions of dirhams. Professionalism, focus on a specific segment, and a large base of UHNWI clients made him outstanding in the competitive field and an actual advisor to the clientèle.
Ezio D’Ercole
- Rank: 15
- Designation: Manager
- Company: Morgan’s International Realty
Mallorca real estate market and Ezio D’Ercole began his career in real estate 2011 and has worked in various markets such as Bali, London, Dubai among others. Besides, honestly and integrity are still on the top, which made D’Ercole a company with truly client-oriented services. Ranking as one of the real estate legends of Dubai by the Arabian business organization, he still carries on to meet high expectations of customers while allowing his global experience and market ordeal to serve the end customers.
Joelle Raad
- Rank: 16
- Designation: Associate Director
- Company: This entity is Dubai Sotheby’s International Realty.
One of them is Joelle Raad who is working at Dubai Sotheby’s International Realty, as an Associate Director, occupation which makes her a quite knowledgeable specialist in luxury property market in Dubai. She has worked in marketing and hospitality before transferring to the field that is her passion, the real estate. Raad, one of the prominent off-plan and resale luxury property’s saleswoman, has marketed branded residences including the Four Seasons Private Residence and One Zaabeel. The focus is the client and their needs and desires and fluency in English, Arabic and French allows for the creation of a strong and easily established business rapport and to guarantee the best results.
Fabio Lombardi
- Rank: 17
- Designation: Private Office Advisor
- Company: Engel & Völkers privacy.
The bio of a once Italian national working for an organization in the tourism and hospitality industry, aspiring to be a perfect real estate advisor in the emirate of Dubai. Lombardi is a holder of a Master’s Degree in Economy of Tourism and he has working experience with Emirates Airline; therefore, has customer service and sales skills. Based in Dubai since 2009, Mr. Ahmed Saeed has proven his competitiveness in the environs primarily because of his provision of outstanding customer service and customer satisfaction. This is an account of professionalism and career progression showing him as a reputed personality in luxury real estate advisory at Engel & Völkers Private Office.
These profiles reflect the experience and the achievements of each specialist as well as his/her career in the dynamized sphere of the real estate in Dubai.
Fakhreddin Minooeifar
- Rank: 18
- Designation: Founder and Chairman
- Company: Mallorca Properties
Fakhreddin Minooeifar, the founder and the chairman of Mallorca Properties showcased interest towards Dubai by getting employed and studying in the city due to the dynamic and expanding outlook of the city. Since then he featured actively in the Dubai real estate market particularly in some of the largest transactions involving large pieces of residential land. Recently he was in the most massive residential deal in Dubai assessing AED 690 million ($187. 6 million) and includes plots in Dubai marina.
Mallorca Properties targeting the luxury real estate investments, Minooeifar founded company offers focused boutique buy-side real estate investment, asset management and consultancy services. The firm’s specialized in large volume single and multiple unit productions of strategic commercial properties, full buildings, land developments, malls, hotels, and master site developments thus caters for elegant individual high net worth investors, companies, and other organizations looking at prime quality work, advanced construction techniques, and high standard services.
Minooeifar credited his success in that regard to catering to a missed service fulfillment for large real estate transactions and entering the market early with Dubai ’s leading master developers and the Dubai Land Department. He has transacted over AED 20 billion during last 10 years demonstrate that his firm focus on innovation and value and on generation of value even during tougher economic conditions.
Moving forward, Minooeifar will continue to inspire change and improvements with new ideas adapted in Dubai’s developing real estate industry in being able to negotiate for more exclusive contracts and to provide the best services to his clients.
These aspects prove how Minooeifar as a strategic player who is changing Dubai’s real estate industry through Mallorca Properties.
Philip Zarif
- Rank: 19
- Designation: Consultant
- Company: Morgan’s International Realty
Philip Zarif, an actual consultant of Morgan’s International Realty, initially worked in sales before switching to the sphere of real estate in Dubai in 2022, focusing on the Al Barari neighborhood. An English, French and Arabic speaking Zarif has over ten years of real estate experience having worked as a certified personal trainer and a basketball player. He thrives in the growth of Dubai’s market where off-plan sales surged by 73% and the records were broken with 35,100 transactions in Q1 2024. With high quality properties and escalating rent charges, the market cements Zarif’s position as a choice advisor for clients in lock, stock, and barrel.
Farooq Syed
- Rank: 20
- Designation: CEO
- Company: Springfield Properties
Farooq Syed is the CEO of the real estate firm Springfield Properties within Dubai and is recognized for his managerial and business skills. Syed has academic knowledge in Business Administration, Finance, and Management a degree from the American University of Sharjah and MBA from the University of Michigan, since the inception of the company in 2008 he has taken Springfield Properties to new heights. Trying to follow his leadership, the company has been thriving in the Dubai market by providing services to more than 4,000 clients a year in the sphere of luxury residential and commercial property.
Apart from being a leader, Syed is also a prominent personality as he own a YouTube channel that is the largest of its kind in Dubai focusing on the real estate business. Despite this, he informs his clients, investors, and followers on matters, trends, and tips within and about the ever-competing real estate market in Dubai before assisting them in making their crucial decisions. It is also seen in his managing of Springfield Properties where he applies professionalism, thus using proper analytical tools and data to meet the clients’ needs.
Syed’s success is defined not only by the capability of business but also by the family motivation and the love of the city, inherited by his parents’ spirit of entrepreneurship. His capacity to see beyond conventional means of advertising indicates his ability to use social media efficiently to transact massive property deals and educating his audience of the market. Currently, Syed’s leadership defines the future of the real estate sector in Dubai, success, and achievements.
Mohammed Fares
- Rank: 21
- Designation: Private Office Advisor
- Company: Engel & Völkers Private Office
Mohammed Fares, the Private Office Advisor at Engel & Völkers Private Office in Dubai deals with private sales since 2004. He has been involved in the residential sales especially for locals and foreign investors with significant knowledge and experience on the current market demands and forces.
Fares becoming the first Private Office Advisor at Engel & Völkers Dubai, focuses only on assisting investors from different countries to create elaborate investment portfolios of Dubai’s properties. Expanding an understanding of specifics of real estate business and dedicated to honesty and professionalism he is thus in a position to offer clients a successful and thoughtful transition throughout the process of their dealings on the real estate market. Fares is always goal-oriented and tries to establish friendly and professional relationships with his clients focusing on the creation of truly comfortable and suitable for them environment throughout the process of dealing with properties.
Fares made a very impressive target of almost one Point Two billion AED in sales in 2024 and was number one in total number of transactions. Agriculture, I understand, was not always his heart’s desire as a real estate investor who first invested in Dubai in 2004. Fares boasts of his hardworking consultancy manner, where he offers his services from the search for a property up to the signing of contract(s).
Also popular because of his enthusiastic and patient approach to settlement, Fares has closed in excess of 800 deals in properties, with a total value of an excess of AED2 billion. Whether clients are finally in search of a small flat or a sizable villa, Fares was precise to make sure that every exchange is professional, moral and gentle, which makes him a wise guide in duking it out real property market in Dubai.
Qurat Ul Ain
- Rank: 22
- Designation: Founder and Chairperson
- Company: DRE Homes Real Estate
Qurat Ul Ain is the founder of DRE Homes Real Estate, She start her career in sales, and was a co-founder of DRE Homes in 2007. Despite facing many hurdles, she leverages her good education, and a strong spirit to make her company, DRE Homes to be among the leading companies in Dubai real estate market. Due to its commitment to offering excellent service, this real estate company follows protocols such as careful handling of each listing, extra care for clients in the challenging environment, and offering positive buying experiences under mottos such as Service Beyond the Sale Apart from real estate, Ul Ain possesses passion in mentorship for entrepreneurs where she offers training and consultation to budding business leaders.
Soufie Jnidee
- Rank: 23
- Designation: Founder and CEO
- Company: Golden Oak Properties
Soufie Jnidee is the CEO and founder of Golden Oak Properties, and she is well acknowledged for her revolutionary investment plans, which have transformed the property market of Dubai. Jnidee has worked globally in the real estate industry in Australia, East Africa and, of course, London and his area of specialization is asset flipping whereby he is able to double investments in equal dimension and form. Her success in Dubai is defined by the fact she managed to generate $2. 7 million of profit from $2. 1 million of investment portfolio in 22 months with the help of accurate timing of operations and identification of the target audience. During her tenure Golden Oak Properties handled its $7 million investment portfolio that yielded an astonishing 78% return it has put her in the super-league of performers amongst Dubai’s property industry and setting new benchmarks in property investment management.
Lina Allaoa
- Rank: 24
- Designation: Associate Partner
- Company: Driven Properties
Lina Allaoa who started at Driven Properties early this year has been instrumental in the Dubai real estate market. Focusing on premium real estate sector, she more focuses on the strategies of the appropriate property purchase. For the year 2022 only Allooah realized impressive sales $numbering over AED 2 billion and recorded a major deal of selling the most expensive townhouse in the UAE for AED 35. 5 million. This five bedroom townhouse situated on the island of Jumeirah Bay (Bulgari Island) sold a record, largely due to the continued popularity of luxury property in Dubai. Allaoa was also involved in the sale of an apartment in Bulgari Resort and Residences and this also included a per square feet record of AED 12,624. This is even true in the case of Jane, whose success is emblematic of Driven Properties’ contribution to the residential success of Dubai; average prices of apartments and villas in this city have increased in Q1 2024 by 20. 4% and 22. 1% correspondingly.
Leigh Borg
- Rank: 25
- Designation: Executive Partner
- Company: Dubai Sotheby’s International Realty
Leigh Borg, a reputable property agent has seen his niche in Emirates Hills area of Dubai and has been the specialist of Emirates Hills with over 11 years of exclusive practice in the said area. With an extraordinary number of sales, Borg has closed more than 100 deals for such large sums as above 100 million AED. Among the highlights of his performance, it is possible to single out the sale of properties for AED180m inside Emirates Hills in 2017 only, which puts the work of the ragazzo in the list of the best property consultants in Dubai.
One thing of interest about Borg is that not only did he not have much experience in real estate before he embarked on joining Dubai Sotheby’s International Realty; he was not even suddenly promoted from an infamous real estate company to being the head of his own real estate company where he used to manage before joining Dubai Sotheby’s International Realty where he worked in private equity and developed his skills in negotiation and deal closure. Due to his vast experience and commitment to his clients, he has been positioned as the most preferred agent by artists’ affluent families and UHNWIs who require luxurious houses within Emirates Hills.
They add that effectively, Borg goes on driving its business forward in the continuing growth of the Dubai’s real estate industry. Specifically in Q1 2024 there was extraordinary activity in the market with more than 34 000 transactions which is 20% more than in a year before. This upward trend in demand is due to Dubai’s graduate from the Financial Action Task Force (FATF) Grey List and population increase; placed additional pressure on the homes availability, where rents especially in the villa segment skyrocketed. Thus, the sector with off-plan properties continued its steady growth and, despite a decrease in the amount of transactions made on the secondary market, constituted 58% of the total sales volume, courtesy to active new launches from the developers. Thus, Borg continues to be placed at the vanguard of this emergent market to guide clients through a period of aggressive expansion.
Economic Insights:
- The Dubai Land Department reports a 5.8% increase in rental registrations from January to March 2024.
- 6,526 units were delivered in Q1 2024, with 46,086 more expected by year-end.
- March 2024 saw record transaction volumes in Dubai’s residential market, with a 13.2% year-on-year growth.
- Off-plan sales surged by 20.2%, while secondary market sales grew by 2.2%.
- With rising figures, the real estate industry in the UAE is set for another robust year, and the leading players anticipate even greater success.
