Mon, Mar 14, 2016

Real Estate & Property
Brokerage woos Gulf buyers with Paris homes

A new Engel & Völkers office in Paris is offering UAE buyers direct access to high-end residences in the French capital.

Properties on offer at the brokerage’s new Metropolitan Market Centre (MMC) in the city are also available through its counterpart in Dubai, offering Gulf buyers access to some of the world’s most desirable international real estate.

The Paris operation specialises in the brokerage of high-end residential property in the centre of Paris and to the west of the city centre. 

Its listings are available through Engel & Völkers offices worldwide, including the Dubai MMC.

The Paris MMC is the company’s tenth since 2013. The concept uses a team of real estate agents to offer brokerage across the most prestigious neighbourhoods of a complete metropolitan area. These are supported by ‘property lounges’ which can act as a first point of contact for customers.

“Paris is one of the world’s great cities – famous for its beauty and culture, and also as a global centre for business and politics,” said Cesar Latrilla, CEO of Engel & Völkers in Dubai. “Now Engel & Völkers’ can offer UAE-based high-net-worth clients a wide selection of luxury Paris residences, using the local expertise of our colleagues in the ‘City of Light’.”

The most exclusive locations in the city on the Seine are Saint Germain des Prés, the Quartier des Invalides, and the Île Saint-Louis, as well as addresses close to the Place des Vosges, the Palais Royal and the Champs de Mars. The city’s real estate market is dominated by national buyers, but prestigious properties are also sought-after amongst international clients from Italy, the UK, the US and the Middle East in particular.

“Outstanding refurbished properties in the 6th and 7th Arrondissements with views of historic monuments such as the Eiffel Tower can command prices of up to €40,000 ($44,500) per square metre,” said Jérôme Quentel, Managing Director of the Paris MMC. 

The Paris office is located on the Rue de Berri, in the 8th Arrondissement, not far from the famous Avenue des Champs-Élysées. The building dates from the 19th century and was originally a hotel. Now renovated and modernised throughout, it offers some 1,000 sq m of office space for real estate agents. One particular highlight is the garden directly to the rear of the building, which spans some 400 sq m.

Affiliated to the market centre are two property lounges, at key locations in the city. One of the property lounges is located on the Boulevard Haussmann and the other second property lounge is currently nearing completion on the ground floor of the MC.

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