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Mon 15 Sep 2014 01:52 PM

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Asteco set to launch franchise business in Middle East

Real estate company says it will offer independent realtors, entrepreneurs access to brand and business model

Asteco set to launch franchise business in Middle East
(Photo for illustrative purposes only)

Asteco, the Middle East’s largest independent full service real estate company, said on Monday it is to enter the franchise arena with the launch of a new licensing services division.

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.

John Stevens, managing director at Asteco said: “The launch of the new licensing services division will allow us to further propagate the strength of the Asteco brand, image and reputation through an aligned franchisee network, delivering a successful tried and tested sales and leasing brokerage model by trusted and capable partners.

“Franchising is becoming an increasingly popular model around the world, as the only locally established, full service real estate business offering such a unique and bespoke proposition we fully expect interest to be high; already we have received numerous requests,” he added.

He said potential franchisees will benefit from direct tailored access to the Asteco brand, tailored setup support services if required, bespoke operating areas, regional brand visibility and access to a sales and leasing portfolio.

“Many of today’s real estate brokers weren’t even born when Asteco was founded 30 years ago, and many more have no conception of the UAE real estate sector prior to freehold sales to expatriates. We know our business model works, our record speaks for itself - over 7,000 units sold to date generating AED12.8 billion in revenue,” added Stevens.

The licensing model will also provide partners with a referrals service, access to Asteco’s dedicated intranet with a comprehensive range of resources, regular communication and updates, as well as use of its real estate software and CRM platform.

“This is a market-first for Asteco moreover for the industry in the region and we are looking to develop franchisees who are equally passionate, service-oriented, commercially astute and credible professionals; working with them to grow their own businesses with our brand presence in what is one of the most dynamic, challenging and fastest developing markets in the world,” said Stevens.

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