The company Engel & Völkers plans to form a joint venture with Dubai-based developer Nakheel. Its aim is to lease or sell Nakheel properties in the Gulf state. The company will be opening an office in Dubai in October 2014. A CEO is to be appointed in the coming weeks, while 250 agents are to be chosen over the next 12 months. A subsidiary of the sovereign wealth fund Dubai World, Nakheel has developed major projects in the Middle East such as Jumeirah Islands and Warsan Village.
