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Engel & Völkers,
a European-based luxury real estate group, is now offering franchise opportunities across the GCC as part of a strategic plan to grow business in the
region.
The firm, established two decades ago, now has 174 shops in 18 countries across Europe, South Africa and the USA, and operates a master licence in Dubai. The
group’s activities focus on the high-end residential and commercial markets.
Franz
Schedlbauer, CEO Middle East for Engel & Völkers, believes the company’s exacting standards
provide an opportunity for investors to capitalise on a proven name in
the growing market.
He
said, “Becoming part of the Engel & Völkers franchise operation carries the quality guarantee of European expertise, as well as an instantly recognisable ‘look and
feel’, from shop fronts through to collateral.
“Franchisees can access the cross-selling, service standards of the global network, whether selling second homes in Europe to GCC residents, or Dubai penthouse
apartments as second homes to those living abroad.”
Engel & Völkers’ sales strategy has paid off over the past 12 months: the group’s turnover rose by 45% year on year at the end of June, and commission turnover
of the offices outside Germany rose more than 100%.
The addition of an expected 10 franchise offices in
the Middle East over the next 12 months should see this figure rise further. Franchise opportunities exist in UAE, Oman,
Bahrain, Qatar, Saudi Arabia, Kuwait, and Iran.
The quality assurances of the real estate group come through stringent vetting of franchise partners, said Schedlbauer. He said: “Partners will be trained at our real
estate academy, and the company will provide corporate sales, marketing and PR advice.”
Internationally, the group is the sole representative for Christie’s Great Estates, a subsidiary of the auction house.
Engel & Völkers publishes market reports, figures and legal information in each market it is present, with all research made available to partners around the world.
In addition, the company provides a comprehensive after-sales service, right down to advice on the best furniture removal firms to use.
Properties listed in the Engel & Völkers’ books in Dubai include: Burj
Dubai; Arabian Ranches; Emirates Hills; Dubai Marina; The Palm Jumeirah, Jebel Ali and Deira; as well as islands on The World.
During 2005, the most significant growth markets are expected to be in Asia with new offices in Hong Kong and Singapore coming on stream this year.
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