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."