SPF Private Clients has opened an office in Dubai, with Marcus Hodges from the London office moving to Dubai to lead the new office.
The broker firm said it wanted the Dubai office to serve as a “hub for further expansion into the United Arab Emirates (UAE) and wider region”.
Hodges has worked at SPF Private Clients for over 24 years, most recently as director and head of mortgages.
He will be the managing director of SPF UAE and work alongside Connor Humbe, who is based in Dubai and will be head of mortgages, and Scott McHugh as the sales director.
The broker firm said the plan was to double the eight-strong team of brokers in the next year through local recruitment.
SPF Private Clients became part of the Howden Group in 2022. The latter has a “significant presence” in Dubai, which SPF Private Clients hopes to build on.
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Mark Harris (pictured), chief executive of SPF Private Clients, 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 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.”
