NEW YORK, Sept. 10, 2014 /PRNewswire/ -- Douglas Elliman Real Estate and Knight Frank Residential, two of the biggest names in residential real estate, announce the launch of a new global brand alliance, resulting in the largest interactive and connected network for prime and super prime residential properties in the world. With more than 200 years of collective real estate industry experience, Douglas Elliman and Knight Frank Residential are the fourth largest residential brokerage in the United States and the largest independent residential brokerage in the United Kingdom, respectively.
Under the new Douglas Elliman Knight Frank Residential alliance, the two firms share marketing resources for domestic and international properties in the top 10% of each market they service through co-branding across New York City, the Hamptons, Long Island, Westchester, South Florida and Los Angeles. Together, the firms can leverage their reach through a network of over 400 offices across 52 countries, and nearly 20,000 agents. Douglas Elliman and Knight Frank Residential will jointly market more than $38 billion worth of prime and super-prime properties.
Additionally, Douglas Elliman and Knight Frank Residential have released a first-ever joint Wealth Report supplement, which outlines the increasingly close economic ties between the world's leading cities. The new research found that London and New York are set to lead the prime markets relating to global wealth and property investment, while Los Angeles, Miami, Paris, and Dubai are following closely behind. Douglas Elliman and Knight Frank Residential executives point to this extensive global research as a catalyst for creating a new brand alliance that caters to clients with similar investment strategies in prime international markets.
"This new global alliance formed by Douglas Elliman and Knight Frank Residential is a testament to our shared history, vision, and commitment to our clientele. With our best agents, the finest international properties, and in-depth global market analysis, we are offering our customers a truly seamless experience whether they're in Malibu, Manhattan, or Moscow," said Howard M. Lorber, Chairman, Douglas Elliman.
Lord Andrew Hay, Global Head of Knight Frank Residential, said: "The property market has become increasingly global as the mobility of buyers increases; accordingly, there is now a wider selection of both investor origins and investment destinations. For agents, this trend dictates that it is essential to be best in class in both New York and London in order to provide high net worth clients with the most comprehensive service and access to the best properties globally.
"The strategic alliance between Knight Frank residential and Douglas Elliman brings together the two leading agencies in the world's two most important markets. The aim of the alliance is to provide a single market view, consistent expert advice and exceptional service - whether it be in Park Lane or Park Avenue."
With the number of Ultra High Net Worth Individuals* (UHNWIs) set to expand to 215,000 over the next 10 years from the current number of 168,000, according to Knight Frank's Wealth Report, the alliance will capitalize on this expansion and the prevailing trend for those individuals to own property in London and New York.
Douglas Elliman and Knight Frank Residential first began their strategic relationship in the 1970's through international referrals.
"The strengthening of our relationship with Knight Frank Residential further solidifies Douglas Elliman's position at the top of the real estate industry through our unique marketing platform, shared market insights, and unmatched ability to connect buyers and sellers on a global scale," said Dottie Herman, President & CEO, Douglas Elliman.
*The Wealth Report 2014
ABOUT DOUGLAS ELLIMAN REAL ESTATE
Douglas Elliman Real Estate is New York's largest residential brokerage, with over 70 offices in New York City, Long Island, the Hamptons , Westchester/Putnam, Los Angeles, and South Florida and more than 5,000 real estate agents and a network of national and international affiliates. They have a strategic global alliance with London-based Knight Frank LLP for residential business in all of their markets. Douglas Elliman ranked in the top four of all real estate companies in the nation in 2007, 2008, 2009, 2010, 2011, 2012, 2013, and 2014. The company also controls a portfolio of real estate services, including Manhattan's largest residential property manager, Douglas Elliman Property Management, as well as DE Title and DE Capital Mortgage. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, visit the Douglas Elliman site at www.elliman.com
ABOUT KNIGHT FRANK RESIDENTIAL
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank and together with its New York-based global alliance partner, Newmark Grubb Knight Frank, operate from over 370 offices, in 43 countries, across six continents and has over 13,000 employees. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit www.knightfrank.com.
SOURCE Douglas Elliman Real Estate