Sotheby's International Realty Affiliates LLC, a subsidiary of Madison-based Realogy Holdings Corp., announced today it has signed an exclusive 25-year master franchise agreement with Regents Group LLC to develop the Sotheby's International Realty brand throughout Saudi Arabia, Bahrain and Kuwait, with its first office set to open in Riyadh this month.
According to the announcement, the company will conduct business as First Regents Sotheby's International Realty with Paul Aiken as managing broker. The office in Riyadh will serve the luxury residential real estate market throughout Riyadh, Jeddah, Dammam and Al Khobar.
First Regents Sotheby's International Realty is located at King Fahad Road, Tatweer Tower in Riyadh. The company opened an office in Dubai, United Arab Emitrates in October.