Colliers International unveils MENA expansion plans

Regionally headquartered in Dubai, UAE, with two offices in The Kingdom of Saudi Arabia in Riyadh and Jeddah, the leading property consultants have earmarked Qatar, Lebanon, Jordan and Oman as the initial target markets for the fully-functioning satellite offices, and aims to further consolidate its presence in the MENA region by the end of 2007.

The expansion initiative is based on the strong business activity generated by Colliers International in these countries that has created the opportunity to set up viable stand-alone entities.

John Davis, CEO, Colliers International - Middle East, said:

"At Colliers International, we view the entire MENA region as a promising growth area for all categories of the property sector, from sales and leasing to consultancy, valuation, market research and feasibility studies."

"Colliers International has addressed the MENA region for several years from the UAE, on a project specific basis. Our recurring success has led us to decide to open financially viable stand-alone operations with strong local partners in these countries."

Differentiating itself from its competitors, Colliers International validated its formal entry into the four target markets by conducting extensive evaluation and comprehensive market studies, including its own grass roots research.

"Utilising this approach, we are able to offer our clientele statistically sound market research that is based on international best practices and conducted by professionally qualified personnel. This is in contrast to the 'gut feeling' conclusions, drawn from unsubstantiated or out-dated statistics, that is currently being provided by some local agents in these markets," added Davis.

With the introduction of wide-ranging real estate consultancy services through its new offices, Colliers International sees its MENA-based expansion as raising the bar with regards to adding value to the real estate sector across the region.

Named among the 'Global Outsourcing 100' by Fortune Magazine this year, Colliers International has 248 offices in 50 countries worldwide. Regionally, it handles projects for clients in Qatar, Jordan, Syria, Bahrain, Oman, Kuwait, Saudi Arabia, Libya, Sudan, Pakistan and the UAE. The company is also in final negotiations for consultancy projects in Lebanon, Morocco, Yemen and Egypt.