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Sat 17 Jan 2015 09:36 AM

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Asteco says first two firms sign up to franchise business

Real estate company says Livington Properties and Asset Value Real Estate Brokerage will now operate under Asteco brand

Asteco says first two firms sign up to franchise business

Asteco, the Middle East’s largest independent full service real estate company, said on Monday it has signed its first two franchisees following the launch of a new licensing services division.

Dubai-based Livington Properties and Asset Value Real Estate Brokerage will now operate under the Asteco brand after signing agreements, Asteco said in a statement.

The franchise opportunity has been created to offer real estate companies, independent realtors and regional entrepreneurs looking to diversify their existing businesses, or launch a start-up access to Asteco’s 30-year brand and business model.

The company said the move comes after building a strong regional presence with a network of offices in Dubai, Abu Dhabi, Sharjah, Al Ain, Jordon and Qatar.

Commenting on the announcement, John Stevens, managing director, Asteco, said: "Both companies have a wealth of experience in real estate and a business pedigree that is in sync with our own approach to market development and we are looking forward to working with them moving forward."

Livington Properties and Asset Value Real Estate Broker will be able to take advantage of Asteco's support services, bespoke operating areas, regional brand visibility and access to its sales and leasing portfolio.

In 2013/14, Asteco listed more than AED2.1 billion worth of property for sale and offered 1.5 million square feet of leasable space.

"The advantages of being part of a renowned and well established network led by knowledge, experience and professionalism, were fundamental in our decision to partner with Asteco. We firmly believe that the Asteco brand will afford us a genuine competitive edge, operating within a proven business model," said Rafat Essayed, managing director, Livington Properties.

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