Luxury realtor Sotheby's set to come to this GCC city by end of Nov
Sotheby's Middle East headquarters in Riyadh is set to open before the end of the month (Courtesy of Bloomberg)
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Sotheby’s International Realty Affiliates LLC announced Monday it has signed an exclusive 25-year master franchise agreement with Regents Group LLC to develop the Sotheby’s International Realty(R) brand throughout Saudi Arabia, Bahrain and Kuwait, with its first office set to open in Riyadh this month.
The firm will conduct business as First Regents Sotheby’s International Realty with Paul Aiken as managing broker. The office in Riyadh will serve the luxury residential real estate market throughout Riyadh, Jeddah, Dammam and Al-Khobar.
“Saudi Arabia is a strategically important market for the Sotheby’s International Realty brand and this signing represents a key step forward in our overall growth plans across the Middle East,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “The First Regents Sotheby’s International Realty team offers in-depth local knowledge and is led by an experienced management team. Many Saudi nationals look to international markets to purchase real estate, making this an important new market for our luxury network.”
First Regents Sotheby’s International Realty is located at King Fahad Road, Tatweer Tower in Riyadh.
“First Regents Sotheby’s International Realty aims to provide excellence in service and the widest local and international visibility for sales and rentals of extraordinary residential and commercial properties,” said Aiken. “We excel at marketing our clients’ exclusive properties through online channels to ensure that each property receives the awareness it deserves, both locally and internationally.”
The Sotheby’s International Realty network currently has nearly 14,000 sales associates located in approximately 680 offices in 49 countries and territories worldwide.
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