NEW
YORK, June 9, 2022 /PRNewswire/
-- Sotheby's International Realty today announced the opening
of Egypt Sotheby's International Realty, signifying the brand's
second office in Northern Africa
and its 206th office in the EMEIA region.
Egypt Sotheby's International Realty is co-founded and operated
by Marwan Gebril who brings 15 years
of real estate experience to the company. The company is
headquartered in the city of Cairo
and will service the entire country, including the city of Sheikh
Zayed, a top development area, and Arkan, the country's
up-and-coming retail landmark.
"Luxury real estate has been on the rise in Egypt, with hidden gems being uncovered across
the country's expansive and varied terrains," said Philip White, president and CEO of Sotheby's
International Realty. "Major public investment, including
infrastructure upgrades in Cairo,
have further primed the country for growth in the sector. I am
proud of our continued expansion in the region, and I look forward
to supporting Marwan and the entire Egypt Sotheby's International
Realty team."
"Over the past decade, we've seen the rise and demand for
branded serviced residences, signature projects, and boutique
complexes in Egypt," said Gebril.
"It is clear that Egypt will
play a much bigger role in the region as a key luxury real estate
destination and investment hub. Our firm is primed for such
industry growth as the only luxury real estate firm in the country,
and our affiliation with Sotheby's International Realty enables us
to capitalize on this growing demand on a global level."
The office currently has 30 sales associates with plans for
continued expansion. Egyptian properties offer proximity to some of
the world's oldest monuments, artifacts, and historic towns, in
addition to lifestyle interests, such as world-class diving and
golf.
The Sotheby's International Realty® network currently has more
than 25,000 affiliated independent sales associates located in more
than 1,000 offices in 78 countries and territories worldwide. Egypt
Sotheby's International Realty listings are marketed on the
sothebysrealty.com global website. In addition to the referral
opportunities and widened exposure generated from this source, the
firm's brokers and clients will benefit from an association with
Sotheby's auction house and worldwide Sotheby's International
Realty marketing programs. Each office is independently owned and
operated.
Sotheby's International
Realty
Sotheby's International Realty was founded in 1976 as a real
estate service for discerning clients of Sotheby's auction house.
Today, the company's global footprint spans more than 1,000 offices
located in 78 countries and territories worldwide, including 51
company-owned brokerage offices in key metropolitan and resort
markets. In February 2004, Realogy
entered a long-term strategic alliance with Sotheby's, the operator
of the auction house. The agreement provided for the licensing of
Sotheby's International Realty name and the development of a
franchise system. The franchise system is comprised of an affiliate
network, where each office is independently owned and operated.
Sotheby's International Realty supports its affiliates and agents
with a host of operational, marketing, recruiting, educational and
business development resources. Affiliates and agents also benefit
from an association with the venerable Sotheby's auction house,
established in 1744. For more information, visit
www.sothebysrealty.com.
The affiliate network is operated by Sotheby's International
Realty Affiliates LLC, and the company owned brokerages are
operated by Sotheby's International Realty, Inc. Both
entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a
global leader in real estate franchising and provider of real
estate brokerage, relocation and settlement services. Both
Sotheby's International Realty Affiliates LLC and Sotheby's
International Realty, Inc. fully support the principles of the Fair
Housing Act and the Equal Opportunity Act.
CONTACT: Melissa Couch,
973-407-6142, melissa.couch@sothebys.realty
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SOURCE Sotheby's International Realty