Sotheby’s Expands into Egypt and Australia

Sotheby’s International Realty today announced the opening of Egypt Sotheby’s International Realty, signifying the brand’s second office in Northern Africa and its 206th office in the EMEIA region.

Egypt Sotheby’s International Realty is co-founded and operated by Marwan Gebril who brings 15 years of real estate experience to the company. The company is headquartered in the city of Cairo and will service the entire country, including the city of Sheikh Zayed, a top development area, and Arkan, the country’s up-and-coming retail landmark.

“Luxury real estate has been on the rise in Egypt, with hidden gems being uncovered across the country’s expansive and varied terrains,” said Philip White, president and CEO of Sotheby’s International Realty. “Major public investment, including infrastructure upgrades in Cairo, have further primed the country for growth in the sector. I am proud of our continued expansion in the region, and I look forward to supporting Marwan and the entire Egypt Sotheby’s International Realty team.”

“Over the past decade, we’ve seen the rise and demand for branded serviced residences, signature projects, and boutique complexes in Egypt,” said Gebril. “It is clear that Egypt will  play a much bigger role in the region as a key luxury real estate destination and investment hub. Our firm is primed for such industry growth as the only luxury real estate firm in the country, and our affiliation with Sotheby’s International Realty enables us to capitalize on this growing demand on a global level.”

The office currently has 30 sales associates with plans for continued expansion. Egyptian properties offer proximity to some of the world’s oldest monuments, artifacts, and historic towns, in addition to lifestyle interests, such as world-class diving and golf.

Sotheby’s International Realty today announced its expanding presence in Australia with the opening of the Byron Bay office in New South Wales. The addition marks the Sotheby’s International Realty brand’s 11th affiliated office in Australia.

The office is owned by Michael Pallier who is also managing director for Sydney Sotheby’s International Realty. The new location will be led by James McCowan and will operate as Byron Bay Sotheby’s International Realty.

“With its stunning natural attractions and eclectic community, Byron Bay has become one of the world’s most famous coastal towns,” said Philip White, president and CEO, Sotheby’s International Realty. “Due to its popularity, we are seeing increased interest from ex-pats and high-net-worth individuals from New Zealand, Australia, and the Asia-Pacific region, and the prices of homes have risen by more than 20%, according to local records. The addition of the Byron Bay office enables the company to further service their clients in New South Wales, and I am thrilled to support their growth.”

“We saw an opportunity to break into the rural and lifestyle real estate sector of Byron Bay and its surrounds,” said Pallier. “While the real estate market is highly competitive, we understand our clients’ properties were once livelihoods or dream homes, and we want to represent that as best as we can. Our company provides solid real estate knowledge, a tailored level of service, and global marketing opportunities through our affiliation with Sotheby’s International Realty.”

Prior to the opening of the Byron Bay office, Michael and James have had a 25-year history of working together, where they launched Sydney Sotheby’s International Realty 10 years ago and have consistently broken sales records for many significant luxury homes and rural properties.

The Sotheby’s International Realty® network currently has nearly 26,000 affiliated independent sales associates located in over 1,000 offices in 81 countries and territories worldwide. Byron Bay Sotheby’s International Realty listings are marketed on the 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.