Sotheby’s International Realty is expanding its Middle East footprint with a new brokerage in Qatar, owned by Alfardan Group, a lifestyle conglomerate with jewelry, hospitality and an automotive division.
“Qatar’s high-income economy and global real estate interest is appealing to the Sotheby’s International Realty brand,” Philip White, president and chief executive officer of Sotheby’s International Realty said in a statement. “[General Manager Seran Gheorghe], and his team have a strong understanding of local and global luxury real estate and we are proud to have them as our affiliate in Qatar.”
Gheorghe has been practicing real estate in the region for 13 years and will serve as the general manager of the new Qatari brokerage. He was previously with Gulf Sotheby’s International Realty in Dubai, the international luxury real estate brand’s other Middle Eastern brokerage.
“The real estate market in Qatar offers high-quality, luxurious apartments, penthouses and beachfront villas,” Gheorghe said. “From a global perspective, we are seeing interest from buyers in India, China, Europe and the United States.
“We pride ourselves in offering the highest level of support and advice to our clients before, during and after the transaction,” Gheorghe added. “Aligning our company with the Sotheby’s International Realty brand will further provide our clients with unparalleled marketing, global reach and exposure.”
The brokerage will operate out of the country’s capital city of Doha and will serve the luxury residential real estate markets of Lusail, the island of Pearl and West Bay Lagoon, as well as support Qatari clients interested in purchasing international real estate.
The new brokerage also comes in advance of the World Cup, which is scheduled to be played in Qatar in 2022. The presence of the world cup in Qatar is not without controversy however, as there have been multiple reported deaths of workers in the construction of the stadium for soccer’s biggest event.
Sotheby’s International Realty currently has more than 22,700 sales associates at nearly 1,000 offices in 72 countries and territories, according to the company’s own numbers. The brand achieved a company record $112 billion in sales last year and is owned by Realogy, the U.S. real estate holdings giant that also owns Better Homes and Gardens Real Estate, Century 21, Citi Habitats, Climb, Coldwell Banker (and Coldwell Banker Commercial), Corcoran, ERA and NRT.
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