SPF Private Clients (SPF) has expanded its operations with the launch of an office in Dubai to serve as a hub for further expansion into the United Arab Emirates (UAE) and wider region.
Marcus Hodges, who has worked in the London office for the past 20 years, has been appointed managing director of SPF UAE.
Connor Humble, who was already based in Dubai, will join him as head of mortgages, and Scott McHugh as sales director.
The strategy is to double the eight-strong team of brokers over the next year, mainly via local recruitment.
SPF became part of the Howden Group of companies in 2022. Howden already has a significant presence in Dubai, which the team hopes to build upon.
Mark Harris, chief executive of SPF, said: “We are thrilled to be branching out into Dubai, which seemed the obvious next step for our business. Our team will offer the best-in-class mortgage advice and protection advice we are known for to those buying in the UAE, mainly in Dubai but also Rak (Ras Al-Khaimah) and Abu Dhabi.
“We are pleased that Marcus has agreed to head up the team and move to Dubai with his young family, bringing his many years of experience of the mortgage market to the UAE.”
Hodges (pictured) added: “The continued growth in the real estate sector in Dubai presents many opportunities. The city is a popular destination, with people from all over the world choosing to move here to live and work – from insurance companies, law and tax firms to self-employed and business owners in the retail and service sectors. We are also seeing high-net-worth individuals looking to base themselves here for the lifestyle and tax benefits.
“While many of our clients are resident in the UAE, buying a home or an investment, we are also dealing with an increasing number of non-residents from all over the world. Since our early days we have dealt with clients based in the GCC (Gulf Cooperation Council) region who own property in the UK and expect that side business will grow whether that be nationals or expats.
“While we work with both international and local banks, there is a compelling argument for UK banks to lend in Dubai. There is a big opportunity here as many clients are British and relatively affluent, providing them with a level of comfort.”
