Emaar Sells Hampton Non-MENA Assets

Dubai-based Emaar Properties has sold off Hamptons International to UK-based Countrywide as a part of its realigning and repositioning strategy. Dubai’s leading construction firm, Dubai Emaar Properties, has disclosed on Thursday that its property management subsidiary, Hamptons International, has been sold off to UK-based real estate company, Countrywide. Emaar had acquired Hamptons in 2006 for Dh 562 million from a Singapore-based firm.
According to a Emaar spokesperson, “As per the agreement, Countrywide will own and operate Hamptons International offices in the UK, Europe and key Asian markets, while Emaar will own and operate the Hamptons International offices in the Middle East and North Africa region”. But no information on the deal is available. But, Emaar will continue to “share synergies” with Countrywide for the promotion of Emaar Properties across the UK and world.