“Emaar Properties and Countrywide announce new agreement with Hamptons International”

Emaar Properties and Countrywide announce new agreement with Hamptons International

Posted: 17 Jun 2010 05:28 AM PDT

New deal enables Dubai-based Emaar PropertiesEmaar Properties to concentrate on its strategic markets in the Middle East and North Africa region

Dubai, UAE; June 17, 2010: Emaar PropertiesEmaar Properties PJSC, the global property developer, has announced a new deal with Countrywide to expand Hamptons International.
Under the terms of the new agreement, EmaarEmaar will continue to operate Hamptons International in the Middle East and North Africa (MENA) region where it has existing or prospective businesses, while Countrywide will own the rights to operate Hamptons International business in the UK, Europe and Asia.
The agreement will enable EmaarEmaar to focus on its growth by developing integrated lifestyle communities in its primary markets in the MENA region.
EmaarEmaar will continue to operate the Hamptons International offices in the region through its headquarters in Dubai while sharing synergies with Countrywide to promote its projects across the UK and internationally.
EmaarEmaar and Countrywide will also work towards creating a unified property services marketing network for prestigious high-end properties across the world by leveraging mutual competencies in their respective core markets.
Mr Ahmad Matrooshi, Managing Director, Emaar PropertiesEmaar Properties, said: "The agreement with Countrywide is part of a strategic approach to realign and reposition our property services portfolio in key geographic growth areas. Our Hamptons International offices in the UAE and MENA region will continue to provide the full spectrum of property services to customers."
He added: "Over the past year, EmaarEmaar has taken several initiatives to strengthen its core competencies as part of a commitment to add long-term value to the shareholders. In the current economic climate, it is important to shift all energies on our key markets, which align perfectly with our overall growth strategy."
Mr. Grenville Turner, Group Chief Executive, Countrywide, said: "We identified that Hamptons International offers a key growth opportunity, both in the UK and internationally. Hamptons International will continue to operate as a business in its own right and will join a network of 1,200 offices and 43 leading brands, which includes John D Wood & Co and Sotheby's International Realty. This will enable Countrywide to extend its market coverage and support our plans to capitalise on the opportunities in the prestigious high-end property sector."
The offices of Hamptons International offer the complete bandwidth of services such as residential property sales, residential and commercial leasing and property management, and services such as valuations, research and feasibility studies, and an independent mortgage consultancy.
Countrywide is the UK's largest estate agency and property services Group, offering an extensive portfolio of integrated property services, which includes estate agency, lettings, mortgage and insurance services, land and new homes, franchising, auctions, surveying, conveyancing and corporate property management services.
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About Emaar PropertiesEmaar Properties PJSC:
Emaar PropertiesEmaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in key markets world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure, healthcare and financial services sectors.
EmaarEmaar inaugurated Burj Khalifa, the world's tallest building and free-standing structure, and has opened The Dubai Mall, the world's largest shopping centre.
In Saudi Arabia, EmaarEmaar is developing King Abdullah Economic City, the region's largest private sector-led project in Saudi Arabia, featuring a Sea Port, Central Business District, Industrial Zone, Educational Zone, Residential Communities and Resort District.
EmaarEmaar has joined hands with Giorgio Armani to strengthen its presence in hospitality. For more information, visit www.emaar.com
About Hamptons International:
Hamptons International is one of the premier international residential agents, offering an extensive portfolio of UK and international property solutions. Services include sales, lettings, residential developments, property management and mortgages. The company is owned and operated as a subsidiary of Emaar PropertiesEmaar Properties (DFM: EMAAR), one of the world's largest real estate companies. With more than 140 years' experience, Hamptons International offers unrivalled expertise and service in its market. Hamptons International is headquartered in London and currently has an international network of over 85 offices. The company continues to expand both locally and internationally, positioning it as one of the most valuable residential property groups in the world. For further information please see www.hamptons.co.uk
About Countrywide:
Countrywide is the UK's largest and most successful estate agency and property services Group, operating more than 1,200 associated branches across England, Scotland and Wales.
Countrywide's network of expertise helps more people move than any other business in the UK and is a leading provider of estate agency, lettings, mortgage services, land and new homes, franchising, auctions, surveying, conveyancing and corporate property management services.
Countrywide's award-winning service has earned the business 59 high-profile industry awards in the last two years, with customers voting Countrywide Best Large Estate Agency Chain and Best Large Lettings Chain at the 2010 Estate Agency of The Year Awards. Other awards include Best Estate Agency, Best Letting Agency and Best Land & New Homes Agent of the Year at the 2009 Negotiator Awards, and Best Surveyor & Valuer at the 2009 Mortgage Strategy Awards.
Countrywide operates some of the biggest and best-known names in the industry - visit www.countrywide.co.uk/about/high-street-brands.aspx to find out more about Countrywide and its service offering.
For more information, please contact:
Kelly Home / Nivine William
ASDA'A Burson-Marsteller
Tel: (+971 4) 334 4550
E-mail: k.home@asdaa.com, n.william@asdaa.com

© Press Release 2010