Seran Gheorghe appointed Director of Project Developments
An industry veteran in the luxury developments segment, Seran formerly led sales of W Residences, Palm Jumeirah
Words by Aneesha Rai in Company News · Feb 9th, 2023
LUXHABITAT Sotheby’s International Realty has announced the appointment of Seran as Director of Project Developments. As an industry veteran in the luxury segment, Seran brings 17 years of experience, through which he has transacted over AED 10 billion worth of development projects and luxury properties. At his latest stint, Seran headed sales for the famed Palm Jumeirah Development, W Residences. Seran tapped into the strengths of the location and the project to achieve a higher sellout value than originally planned. Taking on a slow burner project like W Residences to achieve an AED 2 billion sellout within 22 months. This was achieved in part due to a growing segment of ultra-luxury properties on the Palm Jumeirah which was particularly popular among real estate buyers in 2021, with an annual gain of 17.4%.
Seran has always been a part of the Sotheby’s family, formerly starting with the Dubai office in 2013, where he focused entirely on branded residences and luxury developments. Between 2013 and 2017, he sold over 100+ properties worth AED 1 Billion in high-profile developments with a key focus on Downtown Dubai. In 2016, he made headlines for a record-breaking sale in the then fire-damaged Address Downtown with an unheard price of AED 7,937 ($2,160) per square foot. The average price per square foot in Downtown Dubai at the time was AED 2,000 ($544) per square foot.
Seran is excited to join the Sotheby’s team again and wants to dominate the project development market with a brand like Sotheby’s. According to Seran, “Technology needs to infiltrate the property market in a positive way, transparency is very important for the market with Luxhabitat Sotheby’s International Realty leading the way.”
With his latest role in the Development Projects division, Seran will be heading key projects led by Luxhabitat Sotheby’s International Realty including One Zaabeel, 1 Residences Wasl, and Canal Front Residences. Seran will also be leading exciting developments such as Baccarat and SO/ Uptown Residences. These development projects will shape the branded residences market in Dubai, which is projected to experience the strongest growth in 2023.