Rico Picenoni joins residential development consultancy team of Savills

International real estate consultancy Savills has strengthened its residential development consultancy team in the Middle East with Rico Picenoni.

Appointed a Director, Rico Picenoni brings over 17 years experience in the hospitality and residential sectors to the firm’s office in Dubai.

“Joining the global powerhouse that is Savills is exciting as the branded residential segment is witnessing more and more developers and brands exploring this unique space, especially in the Middle East,” said Picenoni. 

Picenoni joins Savills from Questtio, a specialist consulting firm for the hospitality sector he founded early 2021. Prior to that, he was the head of residential development for the Middle East and Africa at Accor, and served property development company Seven Tides and Starwood Hotels & Resorts. In between, he also worked as a consultant for global hospitality consultancy HVS.

In his new role, Picenoni has been tasked with growing the firm’s presence in the branded and luxury residential segments. “Working together with experts from across our network we can unlock value for our clients and reinforce our position as the market leader in branded residences,” he said. 

“Rico will be instrumental in developing our service line with a focus on brand selection and negotiation, branded residential operations as well as transactional business through the sourcing of financial partners and outright sales for branded residential development opportunities,” said Riyan Itani, head of global residential development consultancy at Savills.

Rico Picenoni holds a degree in hospitality & business management from Ecole Hôtelière de Lausanne with further education in real estate and asset management.

Originally founded in the United Kingdom in 1855, Savills has had a presence in the Middle East for over 40 years. The regional wing mainly serves clients in the United Arab Emirates, Oman, Bahrain, Egypt and Saudi Arabia.