Raine & Horne Dubai, led by experienced property specialist Mr Sanjay Chimnani, is celebrating its 10th anniversary this month. Over the past decade, the business has recorded exponential growth.

Since 2015, Raine & Horne Dubai has sold 650 residential properties, expanding from a centralised office in the ultra-modern, mixed-use Oberoi Center—strategically located at the entrance to the city’s principal CBD, the Bay Business District—to a team of over 40 professionals.

Over the last 10 years some of Raine & Horne Dubai’s notable transactions include the 2024 mega sale of 72 turnkey factories located within a master-planned industrial compound in Saudi Arabia. The transaction was valued at SAR 260 million (AUD 115.6 million) and was executed on behalf of a regional institutional client.

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,” said Mr Angus Raine, Executive Chairman, Raine & Horne.

In 2024, Raine & Horne Dubai concluded the sale of an entire residential building, South Residences 1, located in the Dubai South master development. The transaction, valued at AED 36.8 million (AUD16.744 million), involved the full building being sold on a strata title basis, marking a significant success in structured, multi-unit sales within an emerging investment corridor, Mr Raine noted.

Over the past 10 years, Raine & Horne Dubai has achieved several other significant milestones, including:

• Establishing a substantial residential and commercial real estate brokerage business specialising in buying, selling, and leasing.
• Launching a holiday home division in 2017, managing a portfolio of properties for short-term rentals.
• Successfully facilitating large real estate transactions with regional investment funds.
• Providing consultancy services for hotel developments, leading to multiple hotel transactions.
• Expanding its offerings to include project marketing, retail sales, and hospitality consultancy, as well as opening a second office in Ras Al-Khaimah.

Within a month of launching, for example, Raine & Horne Dubai listed over 400 luxury apartments on behalf of developer Seven Tides in an ultra-modern five-star resort located on the outer frond of the iconic Palm Jumeirah[i]. Raine & Horne Dubai signed the contract with Seven Tides to market the five-star luxury apartments in Hotel Anantara in the presence of the then Australian Federal Trade Minister Andrew Robb and the firm’s executive chairman Mr Angus Raine.

Mr Chimnani attributes the growth of Raine & Horne Dubai to several interrelated factors. “We have a strong focus on customer service and building long-term relationships.

“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 sands of change

According to Mr Chimnani, Dubai real estate has evolved significantly since 2015. “When we launched in 2015, Dubai was experiencing its second real estate peak between 2014-2016.

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.

“There's growing demand for luxury real estate, with more high-net-worth individuals moving to Dubai.”

To illustrate, 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).

“As the most recent high-value residential transaction, it highlights ongoing investor appetite for standalone homes in Dubai’s prime villa enclaves and the company’s continued presence in the high-end market segment,” Mr Chimnani said.

“Dubai’s handling of COVID-19 helped the market rebound quickly, attracting global investors while other major cities were still under lockdown.”

Mr Chimnani added, “The real estate market cycles have remained relatively short, reflecting Dubai’s status as a dynamic and evolving freehold market.”

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. Despite the correction, luxury real estate will remain resilient, given sustained demand from ultra-high-net-worth individuals.

“The market will see further innovation in real estate technology, offering more data-driven investment decisions.”

The advantages of operating under the Raine & Horne brand

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,” said Mr Chimnani.

“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 of Raine & Horne Dubai's launch, Mr Chimnani remarked, “We are proud of our achievements over the past decade.

“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.

“We thank all our clients, partners, and team members who have contributed to Raine & Horne Dubai’s journey, and we look forward to many more years of success.”

For all your residential and commercial property sales and leasing needs in Dubai and across the UAE, contact Raine & Horne Dubai at +971 4 366 3200.