Mubasher: UAE-based property company Chestertons MENA on Wednesday announced that it completed the acquisition of Downtown International, a multinational real estate agency and broker for residential developments, in an effort to open up fresh markets for the regional investors.

The takeover boosts the company’s existing international real estate portfolio, particularly in London, Chestertons said.

“Through this acquisition, we look forward to leveraging the expertise and reach of Downtown International, to bring all of our clients the best opportunities in the most sought-after locations. Our combined experience and commercial expertise in identifying and developing new opportunities, will undoubtedly provide us with a competitive edge,” said Chairman of Chestertons MENA Salah Mussa.

The company gave no further details on the value of the deal.

Former CEO of Downtown International Martin Ashkuri will be the managing director of the International Residential Developments (IRD) for Chestertons. Ashkuri has more than 20-year experience in the business, as well as a broad network of international and domestic property sales.