BrazilSavills brings in rainmaker Andrew Cummings for residential push
Savills has brought in former economics consultant and now real estate rainmaker Andrew Cummings to lead its Residential practice in the Middle East.
Andrew Cummings joined Savills at the start of this month, appointed the leader of its residential property business. He has been handed the remit to secure significant growth in the coming years, to meet swelling demand from buyers in the GCC’s red-hot housing market.
“I am excited to get started on this journey and intend to cement Savills position as a regional market leader in residential real estate,” said Cummings on his new challenge.
Cummings crosses to Savills from Knight Frank, a rival real estate consultancy firm. Notably, both firms are British-origin and both have a global footprint with a strong presence in the Middle East, however, if it matters, Savills is slightly older (founded in 1855 versus 1896 for Knight Frank) and is larger as well (40,000 staff worldwide versus 20,000 at Knight Frank).
“Savills is undoubtedly the global market leader in prime real estate, powered by the most expansive network stretching across continents. With the huge increase in demand, especially from global HNWIs in the region, there is no better time to tap into that global network to ensure buyers are receiving the best advice and the most suitable properties befitting their needs,” Cummings stated.
Cummings’ main goal for 2024 will be to expand the Residential business to over 100 staff, with much of the growth expected to come from booming markets such as Dubai, Abu Dhabi, Qatar, and Saudi Arabia, among others. “In the UAE, we will also focus on the northern emirates where Ras Al Khaimah, in particular, is experiencing a watershed moment.”
A consultant turned rainmaker
Billed by his new employer as one of the UAE’s most well-known real estate brokers, Cummings arrives with a rainmaker track record. In the past 18 months, he has led the sale of residential property worth over AED 1 billion, at an average sale price of over AED 40 million. This includes two record-breaking sales of over AED 90 million in Tilal Al Ghaf, and deals in prime communities such as Emirates Hills, Palm Jumeirah, Al Barari, and Dubai Hills.
Notably, prior to his move into the world of real estate, Cummings worked in consulting and government. He spent around five years at Adam Smith International, a leading economics and development consultancy, and spent six years working for the UK government. Cummings has been based in the UAE since 2016.
“We are pleased that Andrew has joined us to drive the strategic growth of our residential agency business,” said Steven Morgan, CEO of the Middle East at Savills.
Justin Marking, Global Head of Residential at Savills, said the strategic hire of Cummings is part of the firm’s commitment to the region and comes in response to unprecedented opportunities in the residential segment.
Earlier this month, Savills acquired Verbier Location, a property management company in Switzerland. Last year, the firm purchased residential businesses in Italy (Beliving) and Portugal Predibisa.
