The target of the master franchisee will be to develop a systemof real estate offices for residential real estate brokerageopportunities. Sotheby's International Realty is a subsidiary ofCendant Corp. The company will market such properties as Nakheel'sman-made islands known as the Palm. Other developments include theWorld, consisting of 300 man-made islands.
Sultan Ahmed bin Sulayem, Nakheel executive chairman, says, "Asthe real estate sector continues to grow in both Dubai and theMiddle East…the Sotheby's brand will be instrumental in exposingour properties to an international audience whilst providingdiscipline to the secondary market."
James Wilson, CEO of Nakheel and Nakheel Sotheby's InternationalRealty, adds that the first offices will be located in Dubai.
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