Gulf Sotheby’s International Realty, the GCC-based branch of the luxury real estate brand founded by the renowned Sotheby’s Auction House, has obtained the license to be the sole real estate network in six Gulf countries.
Sotheby’s International Realty operates as an international network that connects the independent real estate companies to some of the highest net worth clientele in the world. The franchising license agreement was signed for a 25-year period in the GCC.
The license agreement comes following the success of the UAE Sotheby’s franchise, which is on track to close 2015 with a 400 percent increase in transaction volume for the year.
Gulf Sotheby’s International Realty is led by George Azar as chairman, with more than 18 years of finance experience before coming to the real estate firm. He said his focus on providing in-depth regional market intelligence has been a key factor in the firm’s success.
“Our goal is to always achieve the highest sale price for our clients, but achieving this means equipping investors with sound intelligence about the property market and its potential,” Azar said. “Our clients are sophisticated high net worth and institutional investors who need to understand the underlying fundamentals of the markets in which they invest. This is why we have consistently beaten our own sale price targets in 2015, despite the slowdown in the Dubai property market.”
Gulf Sotheby’s International Realty was also recently appointed as Dubai Properties’ exclusive selling agent for the development firm’s latest project.
Gulf Sotheby’s International Realty’s Investment Division also recently helped facilitate negotiations and a partnership between Emirates REIT, DAMAC and Jebel Ali School to develop a new educational facility in DAMAC’s Akoya project.
