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India Sotheby to expand in Sri Lanka property mkt

Press Trust of India  |  New Delhi 

India International Realty, which is into for luxury properties, has signed an exclusive master franchisee to expand brand in

The company, an exclusive master franchisee of US-based International Realty, will do business as International Realty.

The business will be led by India Realty's and

"Realty Affiliates LLChas signed a 25-year exclusive agreement with India Realty, to further expand the Sotheby's International Realty brand in with its first office presence in Sri Lanka expected in April 2018," the company said in a statement.

Philip White, and of Sotheby's International Realty said that Sri Lanka is an attractive market for the brand.

Recently, India Sotheby's raised USD 2 million from high net worth individual to expand its operations in Bengaluru, Kolkata and Gurgaon as it expects demand for premium housing to rise. Before that, it had entered into an equity deal with and Company Ltd (BCCL) worth USD 7 million.

is a 270 year old world-renowned brand that is synonymous with luxury, with interests in areas like auction, diamonds, wine and

International Realty operates a global network of over 21,000 agents across 71 countries with 900 offices with a unique to support. In 2016, the brand achieved a record global sales volume of USD 95 billion.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 20:25 IST
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