Asteco signs first Middle East franchisees

AstecoImage Credit: Asteco

Asteco, the Middle East’s leading independent full-service real estate company, has welcomed on board its first two franchisees following the recent launch of its new licensing services division, which is the first of its kind in the region.

Dubai-based Livington Properties and Asset Value Real Estate Broker (Avreb) will now operate under the Asteco brand following the signing of a franchise agreement with Asteco’s licensing division. The enterprise was established to offer franchise opportunities to qualifying real estate companies, independent realtors as well as regional entrepreneurs looking to diversify their existing businesses, or launch a startup in the property sector.

“Both companies have a wealth of experience in real estate and a business pedigree that is in sync with our own approach to market development and we are looking forward to working with them,” said John Stevens, Managing Director of Asteco.

Livington Properties was established in 2007 with a directive to create tailored real estate investment opportunities for clients and prospective investors. The company brings strong business acumen with 40 years of petroleum, aviation, pharmaceutical, banking, telecommunications and general trading experience through its parent company Al Wihda group. “The advantages of being part of a renowned network led by knowledge, experience and professionalism were fundamental in our decision to partner with Asteco,” said Rafat Essayed, Managing Director of Livington Properties.

“We firmly believe that the Asteco brand will afford us a genuine competitive edge, operating within a proven business model.”

The second company to capitalise on Asteco’s franchise opportunity is Asset Value Real Estate Broker. The Real Estate Regulatory Agency-registered company is already an established real estate sales and leasing brokerage, with a corporate ethos of transparency, value and expertise. “After our very first meeting with Asteco, we were extremely interested in its franchise model as it provided us with an ideal opportunity to grow our business with the backing of one of the most recognised brands in regional real estate,” said Jitendra Panikker from Avreb. “The support mechanisms, the expertise and the kudos all add up to a win-win for both companies.”

Asteco has been recognised for its innovative approach to development of the industry, receiving the prestigious Enterprise Agility Award last year.

“Gaining access to the Asteco brand offers unrivalled credibility built over three decades and stakeholders can rest assured that we carry out the most stringent due diligence before offering a franchise,” said Stevens.

Source: Property Weekly


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