Savills IM appoints new Head of Middle East
International real estate investment manager Savills Investment Management (Savills IM) has appointed Paul Devonshire as Head of Middle East.
Devonshire will principally focus on relationship building, fund raising and product launches for Savills IM’s Middle Eastern investors, but will also work with clients globally as he seeks to expand the firm’s product offering across funds and mandates.
Devonshire brings over 20 years’ experience working in the Middle East in the real estate investment management industry with a particular focus on Shariah compliant real estate funds. Previous responsibilities have included new product development, raising private and institutional equity and both strategic marketing and positioning in new markets.
Prior to joining Savills IM, Devonshire spent nearly 18 years with PGIM Real Estate Investors where he founded its Middle East business, and previously worked at Falcon Real Estate and BNP Paribas Real Estate in Zurich and Frankfurt respectively.
Justin O’Connor, Chief Executive Officer at Savills IM, says: “Paul brings a wealth of experience in real estate and has a proven track record of raising equity in the Middle East. He will play a key role in future product launches and will spearhead our efforts to increase our presence and better serve our clients in the region.”
Devonshire says: “Savills IM is a fast-growing firm with proven global aspirations, benefiting from a respected brand and looking to build a presence in a part of the world I know very well. Furthermore, it is positioned well to cater for investors looking for innovative solutions from a fiduciary manager in the global markets, at a time where investors allocating capital across the Gulf are increasingly looking to diversify their risk. While an element of this is a natural part of diligent portfolio structuring, it is also down to the fluctuating geopolitical landscape in the region. I am excited to tackle these issues whilst contributing to the expansion of Savills IM's operations in the Middle East."