New Delhi: US-based property brokerage firm Sotheby's International Realty Affiliates LLC on Tuesday announced its foray into Indian real estate to market luxury homes located in north India.
Sotheby's International Realty has signed an agreement with Indian firm RealPro Infra Pvt Ltd to develop its brand in North India.
"Sotheby's International Realty Affiliates LLC announced it has signed an exclusive agreement to develop the Sotheby's International Realty brand in India with the opening of North India Sotheby's International Realty," a statement said.
Amit Burman (Vice Chairman ? Dabur) has been appointed as the Honorary Chairman of the firm, which is led by Amit Goyal, co-owner and Chief Executive Officer.
The team will look into the luxury residential real estate market throughout Northern India. The first office will begin operations in September in New Delhi followed by Gurgaon, Noida, Chandigarh and Jaipur.
"India is one of the most exciting, beautiful and fastest growing markets in the world, with a developing luxury real estate market," said Philip White, President and CEO, Sotheby's International Realty.
"The luxury residential real estate market in India is beginning a period of expansive growth and the Sotheby's International Realty brand will meet the needs of high net-worth individuals internationally looking for luxury homes in India and overseas using the brand's global platform," Goyal said.
Sotheby's International Realty is a subsidiary of NYSE- listed Realogy Holdings Corp, a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world.