PHOTO
20 August 2017
Gulf Sotheby’s International Realty, the Dubai-based property broker focused on the luxury end of the market, has bought a 51 percent stake in competitor firm SPF Realty for an undisclosed sum.
The company said that following the deal, SPF Realty will rebrand under its banner.
It also said the deal would allow the agencies to integrate existing client bases, and it will grow the number of brokers working for the combined organisation by 50 percent to more than 100.
George Azar, the chairman of Gulf Sotheby’s International Realty, said: “The integration with SPF Realty’s team will enable us to extend our offerings to the Indian subcontinent’s prime property buyers, led by a team with a noteworthy track-record and incredible expertise.
Ranjeet Chavan, CEO of SPF Realty, said: “We are very excited to formally be a part of the world-renowned Sotheby's brand."
© Zawya 2017
Gulf Sotheby’s International Realty, the Dubai-based property broker focused on the luxury end of the market, has bought a 51 percent stake in competitor firm SPF Realty for an undisclosed sum.
The company said that following the deal, SPF Realty will rebrand under its banner.
It also said the deal would allow the agencies to integrate existing client bases, and it will grow the number of brokers working for the combined organisation by 50 percent to more than 100.
George Azar, the chairman of Gulf Sotheby’s International Realty, said: “The integration with SPF Realty’s team will enable us to extend our offerings to the Indian subcontinent’s prime property buyers, led by a team with a noteworthy track-record and incredible expertise.
Ranjeet Chavan, CEO of SPF Realty, said: “We are very excited to formally be a part of the world-renowned Sotheby's brand."
© Zawya 2017
