Sotheby’s International Realty® Network Continues Mediterranean Expansion

Franchising.com:

Sotheby’s International Realty Affiliates LLC today announced signing of an exclusive 25-year licensing agreement covering the eastern Mediterranean region with Terra Sotheby’s International Realty, with its first office to open in Cyprus by the end of the year.

According to Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC, the eastern Mediterranean region represents a crucial step in the brand’s overall European expansion.

‘Our development in this part of Europe comes at a time of unparalleled economic growth for the region, primarily as a result of the strong tourist industry and the emergence of the region as a financial services and maritime center,’ said Good. ‘The economy also has been buoyed substantially by the strength of the real estate industry. We see vast potential for future growth in this area.’