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 and Retail

 
  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 13121 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 : 11th Edition of Cityscape Abu Dhabi Officially Opens
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
100% Vegan New… Body Yogurts 15 Seconds to Glowing Healthy-looking Skin Spoon It on
Therése Neaimé- Sold to perfection
Leaves of Joy
Marni Eyewear Collection, Exclusively Available at Grand Optics
Toyota Land Cruiser Prado Scoops Best SUV Car of the Year trophy
Linda Paradis brings non-invasive ink removal to Dubai
Raffle Draw Winner - “Win upto 10 Kilos of Gold for 100 Winners" campaign
Mubadala Petroleum Signed Andaman I PSC in Indonesia
Calvin Klein Eyewear
Social Media Star, Amanda Cerny Is the New Face of the Guess SS18 Activewear Co...
ba&sh The Modest Collection
Sandro's SS18 Top Picks - It all begins with color!
IKEA announces latest INDUSTRIELL and HJÄRTELIG Collections
Sony's PXW-Z280, World's first 4K 3-chip Camcorder with new 1/2-type Exmor R CMO...
Rado is raising the design bar with its new DiaMaster models
Martin Hoping for Amstel Gold as Irishman Leads Team to Ardennes Classics
Scuderia Ferrari Abetone Collection
HP's New High-Performance Workstations Push Creative and Technical Workflows to ...
Timeless Ties
Tommy Hilfiger's SS2018 men's and women's watch collection
Boss watches presents the Ocean Edition
Sophie's Café Introduces Ve-Gang Tuesdays for ladies starting from 17th April
The Chronofighter Grand Vintage by Graham is exactly as big as it appears in the...
Al-futtaim Names Its New Dubai Lifestyle Mall – ‘Festival Plaza'
Nikon D850 and D7500 presented with Red Dot Award: Product Design 2018
Japan's Masazo Nonaka Is Awarded Guinness World Records Title for Oldest Living ...
MG Motor and Al Yousuf Motors Open New Dubai Showroom
Skyline Mega Fitness Challenge Sparked Positivity and Happiness
Trend Alert from kate spade to help you pull off the cool girl look when you're ...
Accessories Collection 2018 Gentleman Attitude
Latifa bint Mohammed visits PCFC's stand at DIGAE, hails state-of-art initiatives
Etihad Airways Enhances Its Onboard Food Offering With the Addition of ‘Weqaya' ...
Global Village sets a new record after drawing smiles on faces of more than 6 mi...
Sony unleashes refined creativity with the new FS5 II
Get the best bargains at Dragon Mart's End of Season Clearance Market
Summertime Beauty Picks at Glambeaute.com
ICBA, Dubai Carbon team up for sustainability projects
COLAB - Dry Shampoo
Indie Film ‘Selfie' Premieres in Dubai
PCFC's stand at DIGAE sees heavy diplomatic footfall
ETIHAD AIRWAYS BOOSTS SERVICES TO MOROCCO
ORANGE & BERGAMOT Awaken the Cult Icon New Additions
Dubai Quality Group kicks off the 2-day Ideas Arabia 13th International Conferen...
Finnair to offer a hand baggage only ticket type on selected North Atlantic routes
GMIS Signs Memorandum of Understanding With Italian Pharmaceutical Leader Farmin...
International Property Show and Dubai Property Festival drive exclusive banks offers
Airbus and Zodiac Aerospace enter into a partnership for a new lower-deck passen...
HONEYWELL TO INSPIRE NEXT GENERATION OF PROGRAMMERS AND SCIENTISTS AT THINK SCIE...
His Excellency Eng. Basim Bin Yacob Alhamer opens 2nd edition of Procurement Mid...
Airbus launches new Cabin-Flex option for A380 with Qantas