Cushman & Wakefield Core
Cushman & Wakefield Core is a small real estate company based in Dubai, operating since 2008 as an independently owned affiliate of Cushman & Wakefield. The company specializes in various aspects of real estate, including sales and leasing of commercial and residential properties, property management, and consultancy services.
Company Overview
Cushman & Wakefield Core operates as an independently owned and operated affiliate of Cushman & Wakefield in the UAE. Established in 2008, the company has a team size of 73 employees and is headquartered in Dubai, with an additional location in Abu Dhabi. It is part of a global network that includes approximately 52,000 employees across 400 offices in 60 countries. The company specializes in various sectors of real estate, including commercial and residential property sales and leasing, corporate and investment services, property management, and consultancy.
Real Estate Market Insights
The real estate market in Dubai is experiencing significant trends. City-wide office rents have increased by 19% year-on-year, driven by demand outpacing supply. The office market is facing a supply shortage expected to continue until 2027-2028, with occupancy rates reaching a record high of 90%. In the residential sector, gross yields are at a seven-year high, and sales prices have risen for the 16th consecutive quarter. The off-plan residential market is thriving, with a 61% year-on-year increase in transactions.
Specialties and Services
Cushman & Wakefield Core provides a range of specialized services in the real estate sector. These include sales and leasing of commercial and residential properties, corporate and investment services, property management, and consultancy. The company also offers international sales and valuations, catering to diverse client needs. Their expertise spans across commercial retail, offices, and industrial properties, positioning them as a comprehensive service provider in the real estate market.
Market Trends and Performance
In 2023, Dubai's residential project launches saw a 78% year-on-year increase for apartments, reflecting a robust demand in the market. The off-plan market transactions also experienced a 32% year-on-year increase. The ultra-prime residential market recorded a 12% rise in transactions, while properties priced between Dh1 and Dh3 million accounted for the largest share of the market at 48.5%. The office sales market noted a 24% year-on-year surge in transaction volumes, indicating a dynamic real estate landscape.
Location and Operations
Cushman & Wakefield Core operates primarily in Dubai and Abu Dhabi, UAE. The company has established itself within the local market since its founding in 2008. With a focus on providing comprehensive real estate services, it plays a significant role in the region's property landscape. The company's operations are aligned with the broader trends in the Dubai real estate market, which is characterized by increasing demand and evolving market dynamics.