Sotheby’s International Realty brand expands luxury presence into Sri Lanka

Sotheby’s International Realty Affiliates LLC signed a 25-year exclusive agreement with India Sotheby’s International Realty, to further expand the Sotheby’s International Realty brand in Sri Lanka. Under the seasoned leadership of CEO Amit Goyal and President, India Ashwin Chadha, Sotheby’s International Realty has established offices in New Delhi, Mumbai and plans to expand across India.

Sri Lanka Sotheby’s International Realty ([email protected]) is a partnership between India Sotheby’s International Realty and Sri Lanka Sotheby’s International Realty Directors Petar Petrovic and Vedran Bostandzic, who will be managing the Sri Lankan office.  The firm will serve the luxury residential real estate market throughout Sri Lanka and the office in Colombo is set to open in June of this year.  

“The luxury real estate sector in Sri Lanka has a promising future,” said Goyal. “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.” 

Petar Petrovic said, “Vedran Bostandzic and I have lived and worked in the real estate market in Sri Lanka for some years. We are delighted to offer Sri Lanka’s prime residential market a full service using the immense global leverage of the Sotheby’s International Realty network.”

The Sotheby’s International Realty network (www.sothebysrealty.com) currently has more than 22,000 affiliated independent sales associates located in approximately 950 offices in 69 countries and territories worldwide. In 2017, the brand achieved a record global sales volume of $ 108 billion.

Sri Lanka Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated. 

Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. 

In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.