UK based Sothebys plans to expands in South India | Franchise Mart

UK based Sothebys plans to expands in South India



Breaking News India,Latest Franchise News India,Sotheby’s International Realty Affi liates LLC, a luxury real estate brand founded by the UK’s Sotheby’s Auction House, is set to expand its presence in south Indian market, including Chennai, through a 25-year exclusive franchise agreement with Realpro Realty Solutions. The brand’s existing affi liate in India, North India Sotheby’s International Realty, which began operations in October 2014 in New Delhi, will work cooperatively with and also now do business as India Sotheby’s International Realty.

The first offi ce as part of the expansion will be set up in Mumbai in the second half of 2017 followed by Bengaluru, Goa, Chennai, Pune, and Kolkata. With this expansion, India Sotheby’s International Realty will focus on the luxury residential real estate market in Chennai, Pune, Goa, Mumbai, Bengaluru and Kolkata.

“The luxury real estate market in India is growing rapidly and it was the right time for our brand to expand its presence within the country,” said Philip White, president and chief executive offi cer of Sotheby’s International Realty Affi liates LLC.

Expansion into the rest of India was one of our core objectives for the year,” he added. Meanwhile, Amit Goyal, CEO, India Sotheby’s International Realty said that the real estate sector is at the cusp of reform and transformation with implementation of policy changes.

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