GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate

 
  Share

Saudi Arabia based Ma'ather for Real Estate Management LLC invests in Asteco's proven franchise brand, the first in the country

Dubai, April 19, 2017: Asteco, the Middle East's largest independent full-service real estate company, has added its first franchise in Saudi Arabia to its growing integrated network, taking the tally of franchises to 15 in the GCC.

Following the signing of the agreement with Asteco's licensing division, Ma'ather for Real Estate Management LLC, the main real estate division of the Rabiah & Nasser Group (RANCO), a leader in the Saudi construction, industrial and real estate industry, will now operate under the Asteco brand. The signing ceremony, which took place yesterday at Cityscape Abu Dhabi, was attended by Asteco Managing Director, John Stevens; Asteco Director of Licensing, Sean McCauley; Eng. Raed Al Rabiah, Managing Director and Ahmed Al Bader, General Manager of Ma'ather for Real Estate Management LLC.

Commenting on the announcement, Stevens said: “RANCO has built a solid reputation over the last 60 years as reliable and trustworthy real estate company, with credentials second-to-none. Their extensive knowledge and business acumen makes them a natural fit for the Asteco franchise model and I look forward to working with the team on the international and domestic real estate Saudi market.”

RANCO is recognised as one of the key driving forces behind Saudi Arabia's positive urban development. Projects developed include residential and compound properties in Riyadh and Al Khobar, as well as commercial office complexes in Riyadh, Al Khobar and Jeddah.

Several government initiatives put in place to increase housing supply in Saudi Arabia through partnerships with the private sector in 2016 have resulted in a confident outlook for 2017, offsetting the reduction in both government and consumer spending. The introduction of Real Estate Investments Funds (REITs) is also expected to have a positive impact on the real estate industry in the Kingdom.
“This new franchise subsidiary is in line with our group vision in residential development and complements our real estate property management portfolio,” said Eng. Raed Al Rabiah, Managing Director, Ma'ather for Real Estate Management LLC. “The backing of a real estate firm of Asteco's standing and its plus 30 years of experience will undoubtedly play a major role in supporting us during the launch phase and beyond. The gravitas of the Asteco brand combined with our local knowledge and expertise means we can look forward to business growth and success in the future.”

Asteco's franchise model provides partners with a high value referrals service, access to Asteco's market research and quarterly reports, dedicated intranet with a comprehensive range of resources, regular communication and updates, as well as use of the industry-leading real estate software and CRM platform.

As the only locally established, full service real estate business in the region offering a bespoke franchise opportunity, Asteco provides independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.

Its licencing division, established in 2014, was created specially to offer franchise opportunities to qualifying real estate companies, independent realtors and regional entrepreneurs looking to diversify their existing businesses, or launch a start-up in the property sector.

Currently, Asteco has 14 franchises across four different countries in the GCC, including Livington Properties, Asset Value Real Estate Brokerage and Savana Real Estate in Dubai, as well as Bahrain-based RightWay. All franchisees enjoy 100% of the commission and benefit from more than three decades of real estate experience earned by Asteco. Franchisees can also capitalise on tailored set-up support services, bespoke operating areas and regional brand visibility while tapping into an enviable sales and leasing portfolio.


Posted by : GoDubai Editorial Team
Viewed 8516 times
Posted on : Wednesday, April 19, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Tamouh Investments Signs AED310 Million Financing Facility with ADIB for Paragon Bay Mall
Next Story : H.H. Sheikh Ahmed lays foundation stone of Silicon Mall at Dubai Silicon Oasis
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
SOUQ.com hosts two-day Samsung carnival with incredible offers on Mobiles, Weara...
100 New Ways to Transform Your Home With the New Ikea Catalogue
Perfect Fragrances to Celebrate Eid
A Post-Summer Pigmentation Saviour from MZ SKIN
LG V30 to Elevate Smartphone Camera to New Heights
Next Major Smartphone From LG to Feature First-Ever OLED FullVision Display
COÉGA Sunwear Launches Contemporary Autumn/Winter '17 Conservative Swimwear
Michael Kors Debuts New Bancroft Handbag Collection
Introducing the Fall 2017 GUESS Accessories Collection Advertising Campaign
International SOS and Control Risks Advise Pilgrims Worldwide Ahead of Hajj 2017
The Ritual of Karma
Eid Al Adha with Paule Ka Fall-Winter '17
Six Down, Two to Go - ADSB Keeps Up Pace in Delivering Ships to Kuwait
Patrimony Collection Excellence Platine
Highly Anticipated Audemars Piguet Royal Oak Extra-thin Arrives in the Middle East
Global Jewellery Retail Chain Joyalukkas signs Award-Winning Bollywood Actress K...
ICONIC announces ICONIC KIDS- Born Different
Emily Ratajkowski wears Salvatore Ferragamo eyewear
UAE Team Emirates to Make Vuelta a España Debut
UAE is likely to see increased cashless transactions by 2020: Xpress Money's Str...
Zenith Chronomaster El Primero Full Open
New UAE Space Agency Board of Directors Holds First Meeting
"WATHIQATI" Receives the highest number of documents since its launch ...
SOUQ.com – Your one stop shop for all back to school essentials with up to 60% off
Education in the UAE continues to cost families almost AED 1 million per child n...
The Aston Martin Vanquish Zagatos: Speedster and Shooting Brake join Coupe and V...
Growing appetite for seafood drives demand at Middle East's largest dedicated se...
Dubai Land Department's ‘Ejari' smart application protects the right of all parties
Abu Dhabi Ports seals strategic partnership with Healthpoint for wellness-coachi...
Al-Futtaim Honda launches Consumer Happiness Counter initiative
Turkish Airlines' cross-continental flights are more comfortable now with the ba...
Win prizes worth over AED 2million with Al-Futtaim's retail brands
Kamal Vachani welcomes Rt Hon Keith Vaz MP, UK
Joyalukkas launches Diamond Earring Festival with the latest Happy Diamonds coll...
Jafza attracts 267 new companies during the first half of 2017
3rd Maritime Conference & Expo (MARACAD 2017) launches “Maritime Business Leader...
Get Ready to Go Back-to-School with Dubai Festival City
Dubai Science Park and Al Jalila Foundation sign MoU to support scientific resea...
Second phase of electronic medical record project goes live across several DHA h...
Fiat Chrysler Automobiles to Join BMW Group, Intel and Mobileye in Developing Au...
Schneider Electric and Claroty partner to address safety and cybersecurity chall...
“Gulf Navigation Holding” marked rapid profit growth in the first half of 2017 by 33%
Top Saudi Students Complete Huawei's ICT Program in China
Major Components Successfully Installed at Unit 4 of Barakah Nuclear Energy Plan...
First-of-its-Kind National Health Study to Enlist 20,000 Emiratis
Sharjah calls on entrepreneurs to participate in flagship Sheraa Accelerator program
Sharjah Health Education Department Announces “Health and Tourism 2017”
UAE Student's ‘Genes in Space' Experiment Launches to International Space Station
Selfie Superstar or Sports Fanatic? Head Back to School with the Latest Must-Hav...
UAE Welcomes the Finalists of the Most Popular INFINITI Engineering Academy Edit...