Select Property experiences meteoric sales surge in Q1
Property investment company Select Property, which has a major sales division in Dubai Marina, has announced that it has had the most successful quarter in its history, with more than AED 657 million (£106 million) worth of real estate sold from January to March 2014. This represents a 222% increase from Q4 2013 and a 140% increase year-on-year.
During Q1 the business sold 437 properties from its three offices across Dubai and the UK to clients from around the world, with the Middle East, South East Asia and UK being the most active markets.
25% of all these sales were from referrals, demonstrating the level of customer service Select Property provides and its client satisfaction rate.
The business has attributed its success to the gradual recovery of the global property market and the strength of the products it has been selling which include purpose-built student accommodation in the UK and luxury residential developments in Dubai Marina such as No.9.
To support the growth of the company, it has invested in a larger office in central Dubai Marina for its UAE division and has relocated its UK headquarters to bespoke new offices. Alongside this, it has also made several strategic appointments including a new CFO, Michael Slater who joined the business in January from Gen-probe where he was European Finance Director.
CEO of Select Property, Mark Stott, said: “Achieving such strong sales in Q1 is obviously a tremendous start to the year and we’re extremely hopeful that 2014 will shape-up to be a landmark year for the company. As a property-focused business we’ve obviously faced some difficult years recently and it’s good to be able to draw a line underneath this period and instead focus on the future.
“Our resilience has allowed us to remain operational in Dubai where many others have failed, and our strategy to diversify into student accommodation has firmly solidified our position in the UK.
“We have never compromised on the quality or location of the property we sell and I believe it is this approach that inspires confidence from our clients and means we are now at the forefront of the sector. We are continuing to invest in all aspects of the business, from our people to our processes and products and we have some really exciting projects in the pipeline that demonstrate just how far the business has come in 10 years.”
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