Real estate brokerage eXp Realty expanded into the Middle East with an office in Dubai, the company announced on Wednesday.
Dounia Fadi, who joined the company with more than 18 years of experience as a real estate broker, will lead its brokerage operations in Dubai.
“Dubai is building for the future and eXp Realty is the future of real estate, bringing powerful and unparalleled innovation to the real estate market,” Fadi said in a prepared statement.
The brokerage has expanded rapidly across the globe and this announcement marks the sixth market to open in 2022.
“Dubai has a rich and vibrant multicultural population with an equally diverse economy, offering a strong foundation for our entry point into the United Arab Emirates,” said Michael Valdes, chief growth officer at eXp Realty.
Currently, the brokerage operates in 24 markets with more than 86,000 agents, a 30% increase compared to the 65,286 agents it had in October 2021.
“Our competitive commission structure, unique revenue share opportunity and stock incentives are not only attractive, but they are also helping our agents grow their businesses in a challenging real estate market,” said Glenn Sanford, the founder, chairman and CEO of eXp World Holdings, in a statement when the company crossed the milestone.
eXp Realty’s agents are based in the U.S., Canada, the United Kingdom, Australia, South Africa, India, Colombia, Mexico, France, Puerto Rico, Brazil, and the Dominican Republic, among others. It is a subsidiary of eXp World Holdings, Inc. which provides brokerage and real estate technology solutions.
In November, eXp Realty appointed industry veteran Leo Pareja as its chief strategy officer to develop strategies for its growth. Pareja started at eXp as the president of its Realty Affiliated Services. During his tenure, he and his team launched Revenos, eXp’s new buyer and seller referral division. He also headed the strengthening of eXp Solutions.