Sotheby's International Realty Brand Enters Dubai

MADISON, NJ and DUBAI, UNITED ARAB EMIRATES - (Marketwired - Oct 22, 2013) - Sotheby's International Realty Affiliates LLC today announced it has signed an exclusive 25-year master franchise agreement with Prime Realty Ltd to develop the Sotheby's International Realty® brand throughout the United Arab Emirates, with its first office set to open next to Dubai's Burj Khalifa in November 2013.

The firm will conduct business as Dubai Sotheby's International Realty with Billy Rautenbach as managing director and Eric Roche, who spent nearly a decade at Sotheby's International Realty in its Manhattan East Side brokerage office in New York City, as director of international sales and development.

"Dubai 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 Dubai Sotheby's International team offers local knowledge and experience and is led by a seasoned executive team. Billy Rautenbach has been in real estate for 28 years, with nine years in Dubai. During this time, she has cultivated one of the largest real estate businesses in the Middle East and gained expertise in leading a team of more than 600 in property management, sales, leasing, investments, project development, management and marketing both locally and internationally."

The office will be located at Emaar Boulevard Plaza, Tower One, Suite 2601, next to the Burj Khalifa.

"We strive to provide the very best service to our clients," said Roche. "This is underlined by the significant attention and involvement we give to all our clients and services, both locally and regionally. Over the years, we have acquired an excellent reputation and a credible track record as leading specialists in our chosen fields, and the Sotheby's International Realty brand's reputation as the world's premium luxury property marketer is a perfect fit for this region."

The Sotheby's International Realty network currently has more than 13,000 sales associates located in approximately 670 offices in 49 countries and territories worldwide. Dubai Sotheby's International Realty listings will be 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 the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.

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. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system. 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.

Contacts:

David Russell
Director, International Marketing and Public Relations
Sotheby's International Realty Affiliates LLC
Thorpe Hall, Fylingthorpe, YO22 4TT
United Kingdom
+44208 123 1985

Eric Schandel
Head of Communications
Dubai Sotheby's International Realty
Emaar Boulevard Plaza, Tower One, Suite 2601
Dubai, United Arab Emirates
T +971 4 818 4999
F +971 4 818 4998
M +971 56 6503229

Sotheby's International Realty Affiliates LLC
175 Park Avenue
Madison, NJ 07940

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