Dubai’s real estate brokerage firm SPF makes a return

It was in 2018 that the company was acquired by Gulf Sotheby’s UAE operations as part of the latter’s move to expand its reach among high net worth Indian and other South Asian real estate investors. But now, with the property market here going through a sharp correction, there has been a rethink. “Gulf Sotheby’s was planning to bring down the size of its local office, and that brought us to thinking again about reviving the SPF Realty brand,” said Chavan. “It was in August we took up the discussions with them and we were able to agree on the exit agreement within a few weeks. “It’s been an amicable process right through — the merger had brought value to both sides. For SPF it meant gaining international exposure through the Sotheby’s network.”