Cresco is now in America. Explore Cresco Global →

Umer Shauket is the founder and chief executive of Cresco Real Estate, a Dubai brokerage registered with RERA under office registration number 34288. He has worked in real estate for twenty years and built Cresco in Dubai before extending it into the United States.

AED 6.8BClosed transaction value
2,500Transactions
ORN 34288RERA registered brokerage
20 yearsIn real estate

Why Cresco exists

Cresco was built in Dubai, in one of the most competitive property markets in the world. The place was earned deal by deal rather than announced.

What changed the business was watching where the clients came from. Capital does not stay in one market any more. A family in Dubai wants a home in Los Angeles. An American investor wants yield in Dubai. A Gulf family wants London for the long term. Very few firms serve all sides of that movement properly, because each side needs different law, different tax and different paperwork.

So Cresco stopped operating as a brokerage and started building like an institution: brokerage, advisory, market intelligence, capital and education under one standard across three markets.

How this firm makes decisions

Three principles run through everything on this site and they are the reason the numbers here look different from the numbers in most Dubai marketing.

  • Registered prices, not asking prices. Cresco market research is computed from the Dubai Land Department transaction register, which records what actually changed hands. Portal asking prices are marketing and they are consistently higher than reality.
  • The basis is always stated. When a figure moves depending on which property types or filters are included, both numbers get published rather than the flattering one.
  • Findings get published even when they are inconvenient. Cresco sells off-plan property. Cresco also publishes the finding that off-plan traded at a premium per square foot over ready stock in the August register, not the discount buyers are usually promised. A client who only hears the comfortable half of the market is not being advised.

Recognition

Awards, honours and meetings with the institutions Cresco works alongside in the United Arab Emirates.

FEDA ESG and Sustainable Real Estate Award. The first such award issued in the UAE by the Federation of Economic Development Association.
Meeting with H.E. Sheikh Nahyan bin Mubarak Al Nahyan. UAE Minister of Tolerance and Coexistence and a member of the ruling Al Nahyan family, on the future of UAE real estate.
1B World Business Leaders Forum. Recognised at the forum hosted by the Office of H.H. Sheikh Abdulhakim Al Maktoum Group Holdings.
Certificate of Excellence. Presented by consent of the Chairman and Board, Al Maktoum Investment Group.
H.E. Suhail Mohammed Al Zarooni. Presentation of a Cresco plaque of appreciation at his majlis in Dubai, to the Chairman of the Al Zarooni Foundation and Guinness World Record holder.
Major (R.) Omar Mohammed Zubair Al Marzouqi. Honoured by the decorated Dubai Police officer, Olympic handball referee and advisor to the Office of Sheikh Maktoum Bin Suhail Al Maktoum.

Published market research

Cresco publishes monthly analysis built on the Dubai Land Department register rather than portal listings. These are the current pieces.

Credentials

Cresco Real Estate LLC. Registered with the Dubai Land Department and RERA under office registration number ORN 34288.

Markets. Dubai and the wider United Arab Emirates, the United States, and the United Kingdom.

Contact. Enquiries through the Cresco contact page, or the Cresco Global desk for United States based clients.

Transaction figures on this page are Cresco’s own record of closed business. Market figures published elsewhere on this site are computed from the Dubai Land Department public transaction register and carry their own method notes.

All properties A-Z