December 13, 2007 // Franchising.com // PARSIPPANY, N.J. —Sotheby's International Realty Affiliates LLC today announced its luxury real estate services will be available for the first time in Qatar with the opening of Qatar Sotheby's International Realty.
The firm is owned by Qatar Real Estate Partners through a joint venture between real estate investment and development leader Qatari Diar and global leisure real estate consultant NorthCourse.
"Our expansion into Qatar continues our commitment to provide access to our network's exclusive real estate services in more countries around the world," said Michael R. Good, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "The Middle East/North Africa region is an exciting market for us, and we are very pleased that consumers around the world will have access to our services here."
Nasser H. Al-Ansari, chairman, Qatar Real Estate Partners, anticipates that the Sotheby's International Realty affiliation will attract qualified buyers to his first resort project, Al Houara in Tangiers.
"We are honored to become the only firm in Qatar able to offer the prestigious Sotheby's International Realty services, and we look forward to being its premier luxury real estate firm in the region," said Al-Ansari. "Our first project, Al Houara, is a spectacular world-class resort targeted at an international affluent clientele, blending Moroccan culture with European sophistication."
Al Houara, designed by award winning architects, consists of three five-star hotels, an 18-hole signature golf course, numerous retail and entertainment facilities and more than 1,100 villas and apartments.
The Sotheby's International Realty network has more than 8,500 sales associates located in more than 450 offices in the U.S. and 27 other countries and territories. Qatar Sotheby's International Realty listings will be marketed on the sothebysrealty.com global Web site. In addition to the referral opportunities and great exposure generated from these sources, the firm will benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs.
About Sotheby's International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby's Holdings, Inc. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system by Realogy's subsidiary, Sotheby's International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.
About Qatari Diar Real Estate Investment & Development Company
Wholly owned by the Qatar Investment Authority, Qatari Diar Real Estate Investment & Development Company capitalized at US$1 billion was established in December 2004 to support Qatar's growing economy and to co-ordinate the country's real estate development priorities. Qatari Diar creates distinguished property developments with local culture and lifestyle experience to attract tourism and residents generating sustainable and tangible socio-economic benefits. Qatari Diars vision is to become the most trusted and effective real estate investment company by focusing its value proposition on the creation of quality, well-planned and desirable sustained developments. Qatari Diar also provides local and foreign property developers with further opportunities to invest in numerous projects across the globe, including but not limited to Qatar, Morocco, Egypt and Europe.
www.alhouararesort.com or www.qataridiar.com
About NorthCourseSM Leisure Real Estate Solutions
NorthCourse Leisure Real Estate Solutions, a leading global specialist in the personal leisure real estate industry, provides a full spectrum of advisory, research, asset management and sales and marketing services to developers and investors worldwide. With more than 30 years of experience conducting assignments in over 60 countries, NorthCourse works with both experienced developers and new entrants in resorts, timeshares, high-end fractionals, condo-hotels, private residence clubs and destination clubs. Whether it's designing a successful shared ownership business model, overcoming implementation challenges or overseeing the quality of an external sales network, NorthCourse helps its clients to imagine opportunities, create innovative solutions to complex issues and implements projects for long-term success. NorthCourseSM Leisure Real Estate Solutions is a division of Group RCI. For additional information visit www.northcourse.com.