Coldwell Banker Real Estate LLC on Monday announced the signing of a master franchise agreement that expands company franchising rights into 23 countries in Central Europe and Eastern Europe.
The agreement, with Betna for Real Estate Marketing, allows that company to expand the Coldwell Banker real estate brand to nations including Albania, Algeria, Belarus, Bosnia, Bulgaria, Croatia Cyprus, Estonia, Georgia, Kazakhstan, Latvia, Lithuania, Macedonia, Montenegro, Oman, Russia, Serbia, Slovakia, Slovenia, Turkmenistan, Ukraine, Uzbekistan and Yemen.
Betna for Real Estate Marketing, with a headquarters in Egypt, currently operates as Coldwell Banker Middle East and also holds master franchise rights for 12 pan-Arab countries, according to the announcement.
Betna for Real Estate marketing is described in this announcement as “a collaboration of partners with a diverse background including experience in banking and investment, property management, and real estate development.”
Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC, said in a statement, “We have made international growth one of our key initiatives, and this agreement with Betna for Real Estate Marketing is another positive step in Coldwell Banker’s expansion.”
And Mohamed Abdalla Moawad, president of Betna for Real Estate Marketing, said in a statement, “Over the past several years, we have had the opportunity to make the Coldwell Banker brand come to life throughout the Middle East.”
There are about 3,800 residential real estate offices and 120,000 sales associates in 42 countries and territories who are affiliated with the Coldwell Banker system.