Asteco, a leading full service real estate company, has welcomed on board its first two franchisees following the recent launch of its new licensing services division, the first-of-its-kind in the region.

Dubai-based Livington Properties and Asset Value Real Estate Brokerage will now operate under the renowned 30-year-old Asteco brand following the signing of a franchise agreement with the group’s licensing division, said a statement from Asteco.

Under the deal, Livington Properties and Asset Value Real Estate Broker will be able to take advantage of Asteco’s tailored set-up support services, bespoke operating areas, regional brand visibility and access to an enviable sales and leasing portfolio.

Having been predominantly appointed on sole exclusive mandates in 2013/14, Asteco listed property worth more than Dh2.1 billion ($571 million) for sale and offered 1.5 million sq ft of leasable space.  

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 start-up in the property sector, it added.

Commenting on the announcement, John Stevens, the managing director of Asteco, said: "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 moving forward."
 
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 and well-established network led by knowledge, experience and professionalism, were fundamental in our decision to partner with Asteco. We firmly believe that the Asteco brand will afford us a genuine competitive edge, operating within a proven business model,” remarked Rafat Essayed, the managing director of Livington Properties.

The second company to capitalise on Asteco’s franchise opportunity is Asset Value Real Estate Broker. The Real Estate Regulatory Agency (Rera)-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 their 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," stated Jitendra Panikker from Asset Value Real Estate broker.

The support mechanisms, the expertise and the kudos all add up to a win-win for both companies, as well as our customers, he added.

Asteco said it was the only locally established, full service real estate business in the region offering a bespoke franchise opportunity and had already been recognised for its innovative approach to development of the industry, receiving the prestigious Enterprise Agility Awards 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.

"This ensures that franchisees will deliver the same exacting levels of service that has been the foundation of our business success,' it added.-TradeArabia News Service