Raine & Horne Dubai, led by experienced property specialist Sanjay Chimnani, is celebrating its 10th anniversary this month with impressive growth milestones.
Since launching in 2015, the office has facilitated more than 650 residential sales transactions and expanded from a centralised office in the Oberoi Center to a team of over 40 professionals.
The firm has recorded several notable transactions over the decade, including the 2024 sale of 72 turnkey factories within a master-planned industrial compound in Saudi Arabia, valued at SAR 260 million (AUD 115.6 million).
In 2023, the team facilitated a landmark sale within Dubai Hills Estate, closing on multiple villas in the Fairway Villas cluster with a combined transaction value of AED 32.5 million (AUD 14.7 million).
“This stands as Raine & Horne Dubai’s highest-value retail residential sale to date, and it showcases the strength of Sanjay and his team’s strength in the luxury freehold villa market,” Mr Angus Raine, Executive Chairman, Raine & Horne said.
More recently in 2024, the office concluded the sale of an entire residential building, South Residences 1, located in the Dubai South master development, valued at AED 36.8 million (AUD 16.744 million).
Mr Chimnani attributes the growth to several factors that have guided the business over the past decade.
“We have a strong focus on customer service and building long-term relationships,” Mr Chimnani said.
“We also maintain ethical business practices in all transactions, investing in continuous training and development for staff and aim to enhance customer experience with tailored real estate solutions.”
The Dubai real estate market has evolved significantly since Raine & Horne established its presence in 2015.
“When we launched in 2015, Dubai was experiencing its second real estate peak between 2014-2016,” Mr Chimnani said.
“The market slowed down with price corrections from 2017 to 2020. Then, post-COVID demand surged, driven by European and Indian investors and significant capital inflows from Russia and Ukraine.”
In the fourth quarter of 2024, Raine & Horne Dubai completed the sale of a luxury villa in Meydan, Dubai for AED 20,200,000 (AUD 9.19 million), highlighting the ongoing investor appetite for standalone homes in Dubai’s prime villa enclaves.
Looking ahead, Mr Chimnani anticipates that a significant amount of new supply will hit the market in Q3 2025 and continue through 2028.
“This will likely lead to a correction in property prices and rental rates, making Dubai more affordable,” he said.
“Despite the correction, luxury real estate will remain resilient, given sustained demand from ultra-high-net-worth individuals.”
Since 2015, Mr Chimnani and his team have benefited significantly from the association with Raine & Horne’s 142-year-old legacy.
“The brand serves as a door opener, providing credibility and instilling confidence in clients who value working with a well-established and reputable name,” Mr Chimnani said.
“This rich history and strong international reputation set us apart from other real estate firms in Dubai and give us an edge in securing high-value transactions.”
On the 10th anniversary milestone, Mr Chimnani expressed pride in the firm’s achievements.
“We are proud of our achievements over the past decade,” Mr Chimnani said.
“Looking ahead, we remain committed to delivering value-driven real estate solutions, adapting to the ever-evolving needs of our clients and the broader Dubai property market.”
