Sotheby's International Realty Opens First Affiliated Office in Saudi Arabia

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Mar 30, 2023, 10:00 ET

NEW YORK, March 30, 2023 /PRNewswire/ -- Sotheby's International Realty today announced the opening of Saudi Arabia Sotheby's International Realty, signifying the brand's seventh affiliated office in the Middle East and its 227^th office in the EMEIA region. The company is headquartered in the Al Faisaliah Tower in the city of Riyadh and will service the entire country.

Saudi Arabia Sotheby's International Realty is headed by George Azar who brings more than 15 years of real estate experience to the company. An international businessman, Azar is also CEO and Owner of Luxhabitat Sotheby's International Realty in Dubai and United Kingdom Sotheby's International Realty.

"Saudi Arabia is seeing an increase of major development projects, including luxury branded residences, internationally recognized hospitality resorts, and exclusive residential projects," said Philip White, president and CEO of Sotheby's International Realty. "I look forward to supporting George and the entire Saudi Arabia Sotheby's International Realty team."

"We are thrilled to align with Sotheby's International Realty as their international expertise and experience in working with high-end listings pairs well with our business," said Azar. "We are seeing increased demand for luxury properties and development projects and our affiliation with Sotheby's International Realty enables us to meet this demand."

The company's office and retail space will handle all luxury real estate needs, from buying and selling to managing exciting development projects across all the major cities of the Kingdom of Saudi Arabia and along the Red Sea.

The Sotheby's International Realty® network currently has more than 26,000 affiliated independent sales associates located in 1,075 offices in 81 countries and territories worldwide. Saudi Arabia Sotheby's International Realty listings are 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 Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.

Sotheby's International Realty

Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans 1,075 offices located in 81 countries and territories worldwide, including 50 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Anywhere Real Estate Inc. entered 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 franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.

The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Anywhere Real Estate Inc. (NYSE: HOUS) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Both Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc. fully support the principles of the Fair Housing Act and the Equal Opportunity Act.

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SOURCE Sotheby's International Realty