Dubai PR Network, Online Press Release from Dubai and Middle East
 
Property & Real Estate(Real Estate & Retail)
Filter PR by
  
Asteco signs first master franchise in Saudi Arabia
 
Asteco signs first master franchise in Saudi Arabia

Saudi Arabia based Ma’ather for Real Estate Management LLC invests in Asteco’s proven franchise brand, the first in the country 

Dubai, April 19, 2017:  Asteco, the Middle East’s largest independent full-service real estate company, has added its first franchise in Saudi Arabia to its growing integrated network, taking the tally of franchises to 15 in the GCC.

Following the signing of the agreement with Asteco’s licensing division, Ma’ather for Real Estate Management LLC, the main real estate division of the Rabiah & Nasser Group (RANCO), a leader in the Saudi construction, industrial and real estate industry, will now operate under the Asteco brand. The signing ceremony, which took place yesterday at Cityscape Abu Dhabi, was attended by Asteco Managing Director, John Stevens; Asteco Director of Licensing, Sean McCauley; Eng. Raed Al Rabiah, Managing Director and Ahmed Al Bader, General Manager of Ma’ather for Real Estate Management LLC.

Commenting on the announcement, Stevens said: “RANCO has built a solid reputation over the last 60 years as reliable and trustworthy real estate company, with credentials second-to-none. Their extensive knowledge and business acumen makes them a natural fit for the Asteco franchise model and I look forward to working with the team on the international and domestic real estate Saudi market.”

RANCO is recognised as one of the key driving forces behind Saudi Arabia’s positive urban development. Projects developed include residential and compound properties in Riyadh and Al Khobar, as well as commercial office complexes in Riyadh, Al Khobar and Jeddah.

Several government initiatives put in place to increase housing supply in Saudi Arabia through partnerships with the private sector in 2016 have resulted in a confident outlook for 2017, offsetting the reduction in both government and consumer spending. The introduction of Real Estate Investments Funds (REITs) is also expected to have a positive impact on the real estate industry in the Kingdom.
“This new franchise subsidiary is in line with our group vision in residential development and complements our real estate property management portfolio,” said Eng. Raed Al Rabiah, Managing Director, Ma’ather for Real Estate Management LLC. “The backing of a real estate firm of Asteco’s standing and its plus 30 years of experience will undoubtedly play a major role in supporting us during the launch phase and beyond. The gravitas of the Asteco brand combined with our local knowledge and expertise means we can look forward to business growth and success in the future.”

Asteco’s franchise model provides partners with a high value referrals service, access to Asteco’s market research and quarterly reports, dedicated intranet with a comprehensive range of resources, regular communication and updates, as well as use of the industry-leading real estate software and CRM platform.

As the only locally established, full service real estate business in the region offering a bespoke franchise opportunity, Asteco provides independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.

Its licencing division, established in 2014, was created specially to offer franchise opportunities to qualifying real estate companies, independent realtors and regional entrepreneurs looking to diversify their existing businesses, or launch a start-up in the property sector. 

Currently, Asteco has 14 franchises across four different countries in the GCC, including Livington Properties, Asset Value Real Estate Brokerage and Savana Real Estate in Dubai, as well as Bahrain-based RightWay. All franchisees enjoy 100% of the commission and benefit from more than three decades of real estate experience earned by Asteco. Franchisees can also capitalise on tailored set-up support services, bespoke operating areas and regional brand visibility while tapping into an enviable sales and leasing portfolio. 

Posted by : Dubai PR Network Editorial Team
Viewed 9266 times
PR Category : Real Estate & Retail
Posted on : Wednesday, April 19, 2017  3:47:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Tamouh Investments Signs AED310 Million Financing Facility w...
Next Story : 11th Edition of Cityscape Abu Dhabi Officially Opens
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
LG DUALCOOL Air Conditioner Builds a Tower of Chocolate [11926-Views]
Dune London: The Autumn/Winter17 campaign [9132-Views]
Contour, Highlight and Bronze your Body with Ease with Madame LA LA [7363-Views]
Max Mara: Iconic Coats - Manuela & Teddy. [7350-Views]
DS Podium GMT Chronometer: Because time knows no borders [7253-Views]
Vintage is the rage for new Chronofighter range [7186-Views]
India's famous fashion designer Suneet Varma brings his collections to Dubai [6997-Views]
Italian Trade Agency Kicks Off F&B Promotional Activities in the UAE [6875-Views]
SAINT HONORE Charisma “Twist” for elegant lady [6417-Views]
Ferrari Portofino: the Italian Grand Tourer par excellence [5990-Views]
CITIZEN opens refurbished boutique at Sharjah City Centre [5923-Views]
LG Robots to Connect People for A Better Tomorrow [5844-Views]
Panasonic announces robust plans for Middle East under new leadership [5655-Views]
Exhilarating new Roger Dubuis pop-up boutique in the US [5618-Views]
Mango Fall/Winter17 - Denim Special [5582-Views]
Michael Kors Collection Spring 2018 Fashion Show [5569-Views]
Marina Rinaldi : Ashley Graham continues her role as the face of the brand for the Fall/W... [5490-Views]
Aster DM Healthcare bags Gulf Business Awards-2017 for the “Healthcare Company of the Year... [5386-Views]
TAG Heuer's Globetrotter Exhibition Opens in Dubai Mall on September 15, As Part of an Amb... [5154-Views]
Ulysse Nardin Presents Classico Zheng He [5148-Views]
'COÉGA'S Got You Covered' in New AW17 SPF50 Family Swimwear Collection [4898-Views]
Dubai Culture Takes ‘Dubai Next' to London Design Festival [4837-Views]
The Longines Avigation BigEye: Aesthetics and tradition in a pilot's watch [4782-Views]
Kate Upton, Ashley Graham, Andreea Diaconu, Skai Jackson and more in Michael Kors to a Par... [4776-Views]
New Balance Introduces the 574 Sport in Celebration of the Dubai Mall Store Opening [4538-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories