LA's 'Selling Sunset' real estate agency opens a Dubai office
Luxury properties in Dubai have continued to sell for over $5 million, even during wartime.
The Oppenheim Group, a prominent luxury real estate agency based in Los Angeles, has opened a branch office in Dubai, according to recent reports. This move comes despite the fact that the premium real estate segment has seen a slowdown. Despite this, some brokers and developers see this development as a much-needed correction to the soaring market, which could potentially prevent a market crash.
Jason Oppenheim, the president of The Oppenheim Group, shared his thoughts on the situation with the Financial Times. He stated that a "slow burn" in real estate markets is desirable, as it indicates stability and health. Another indicator of optimism is a recent $1.4 billion expansion project in Dubai, which will see the completion of a financial hub and the sale of units in the under-construction Four Seasons hotel.
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