Buffett's real estate arm expands to Dubai

Berkshire Hathaway's real estate brokerage expands into the Middle East, opening an office in Dubai, media reports, citing a company statement. The unit of the Warren Buffett-run company will be headed by Chairman IhsanHusein Al Marzouqi and CEO Phil Sheridan. Berkshire Hathaway HomeServices Gulf Properties will have 30 advisers and support staff. It aims to triple its adviser count and open a second office in Abu Dhabi within a year, the company said. The company is building its presence in Dubai as the emirate's property markets peaked in October 2014 and have been declining ever since.