Industry News

Sotheby’s brand expands to Dubai, United Arab Emirates

Developer Nakheel to carry luxury real estate name

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The Sotheby's International Realty brand is expanding into Dubai and the United Arab Emirates with the appointment of exclusive master franchise rights for those nations. The master franchisee will develop a system of real estate offices in each respective Emirate that will operate as part of the Sotheby's International Realty network of luxury residential real estate brokerages. The newly formed company will operate under the name Nakheel Sotheby's International Realty and will offer potential home buyers and sellers in the UAE market re-sales and brokerage services for residential properties. Nakheel is the property development company behind a variety of new landmark developments in Dubai. Signature projects in the Arabian Gulf include the creation of the three largest man-made islands known as The Palm. Other developments include The World, consisting of 300 man-made islands, positioned strategically to replicate the shape of the world map. Sotheby's International Realty ...