Globally acclaimed Sotheby’s International Reality to open an office in Sri Lanka’s commercial capital
A premium property advisory company, Sotheby’s International Realty, has reportedly said the company is to open an office in Sri Lanka’s capital Colombo.
Sotheby’s decision to open an office in Colombo has been propelled by the increasing number of up-market real estate projects in Sri Lanka.
According to reports, Realpro Realty Solutions Private Limited, Sotheby’s International Realty Affiliates’ franchise partner in India, will run the Colombo office.
“The luxury real estate sector in Sri Lanka has a promising future,” Head of the company’s Indian office, Amit Goyal has been quoted as saying.
“Sri Lanka’s luxury real estate market is expanding rapidly with condominium developments in Colombo, branded resorts and villas along the magnificent coastline, and private estates in the famous tea country, creating a strong luxury footprint in the region.”
Sotheby’s International Realty has stated that it has over 22,000 affiliated independent sales associates located in 950 offices in 69 countries and territories worldwide, making sales of US$ 108 billion in 2017.
OSL take:
The entrance of Sotheby’s Realty into Sri Lanka indicates the increasing up-market real estate potential in the island nation. Other foreign realty companies could also look at the real estate opportunities in Sri Lanka and look at setting up base in Colombo. The entrance of Sotheby’s would also bring in many up-market international clients including investors/businessmen into Sri Lanka. This, in turn, would further boost the up-market real estate development projects in the country, expanding investment opportunities in the construction sector in Sri Lanka as well.
| Article Code : | VBS/AT/19042018/Z_2 |