1. Sotheby's opened its 18th office in Asia, located in Makati. 2. Luxury real estate in the Philippines is growing due to affluent demand. 3. Catherine Ocariz-Florencio leads the new Philippines Sotheby's office. 4. Sotheby's network has over 26,100 sales associates globally. 5. The Philippine market offers stunning beach and city properties for investors.
The expansion into a growing luxury market signals strong growth potential for HOUS. Historical expansions in key markets often lead to increased revenue streams for real estate firms.
This announcement reflects HOUS's strategic growth in international markets, indicating strong future performance. The luxury segment's growth directly supports HOUS's operational footprint.
The establishment of the new office can provide sustained revenue growth as luxury demand rises. Previous expansions, like those in the U.S. and Europe, benefitted the brand for years.
Sotheby's International Realty today announced the opening of Philippines Sotheby's International Realty, marking its 18th office in Asia. The company is headquartered in the financial and commercial hub of Makati.
Leading Philippines Sotheby's International Realty is Catherine Ocariz-Florencio, a seasoned real estate professional with over 15 years of industry experience. As the 2019 president of the Philippine Association of Real Estate Boards (PAREB) - City of Taguig Real Estate Board (CTREB), Ocariz-Florencio has played a pivotal role in facilitating international investments in the country's prime real estate markets.
"The luxury residential real estate sector in the Philippines has seen steady growth fueled by increased demand from affluent buyers and investors," said Philip White, president and CEO of Sotheby's International Realty. "As the financial center of the country and a key hub for multinational corporations, the city of Makati is the prime location for high-end residences offering premium amenities and security. We look forward to supporting Catherine and helping the Philippines Sotheby's International Realty team grow their business with the power of the brand."
"The Philippines, with its rich cultural heritage, diverse landscapes, and vibrant communities, is home to some of the most stunning properties imaginable. From enchanting beachfront villas nestled along the pristine shores of Palawan and Boracay to luxurious penthouses overlooking the bustling city skyline of Manila, the real estate market here is a treasure trove waiting to be uncovered," said Ocariz-Florencio. "Our mission is to set a new benchmark in the Philippine luxury real estate market by providing a world-class, professional, and client-focused one-stop service. Through our affiliation with Sotheby's International Realty, we will offer unrivaled expertise and unparalleled value to agents and clients throughout every step of the real estate journey."
The Sotheby's International Realty® network currently has more than 26,100 affiliated independent sales associates located in 1,100 offices in 84 countries and territories worldwide. Philippines Sotheby's International Realty listings are 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 Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.
Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans more than 1,100 offices located in 84 countries and territories worldwide, including 48 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Anywhere Real Estate Inc. entered 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 franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational, and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.
The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company-owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in real estate franchising and provider of real estate brokerage, relocation, and settlement services. Both Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc. fully support the principles of the Fair Housing Act and the Equal Opportunity Act.
Rachel Colletta
Senior Manager of PR and Communications
[email protected]
SOURCE Sotheby's International Realty