Monday 14, March 2016

Dubai – MENA Herald: Engel & Völkers, a leading broker of high-end residential properties worldwide, is giving Dubai-based buyers direct access to residential properties in Paris, after the group opening a flagship Metropolitan Market Centre (MMC) in the French Capital. Operational since the end of January, 2016, the Paris MMC’s properties are also available to browse through its counterpart in Dubai, offering UAE buyers unparalleled 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 property listings are available through Engel & Völkers offices worldwide, including via the Dubai Market Center. The Paris MMC is the company’s tenth since 2013. The innovative concept uses a centralised 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 our 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’.”

Paris property market: top prices of 40,000 euros per square metre
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 USA 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 euros per square metre,” said Jérôme Quentel, Managing Director of the Engel & Völkers Market Center in Paris. “Rapid growth in Paris through the Market center is our objective,” said Jérôme Quentel, adding: “The global network of Engel & Völkers, with more than 700 locations, means that real estate agents also have access to an international pool of potential buyers.”

1,000 square metres of central office space
The MC Paris 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 square metres of office space for real estate agents. One particular highlight is the garden directly to the rear of the building, which spans some 400 square metres.

Affiliated to the Market Center are two so-called property lounges, at strongly frequented locations in the city. They serve as an initial point of contact with prospective clients, with comfortable seating and a pleasant atmosphere. One of the property lounges is located on the Boulevard Haussmann, which is lined by department stores and banks. The second property lounge is currently nearing completion on the ground floor of the MC.

In addition to Paris, Engel & Völkers has also opened Market Centers to date in Barcelona, New York, Bogotá, Vienna, on Malta, in Madrid, Valencia, Dubai and Rome.