Egypt’s real estate marketing franchise RE/MAX has successfully launched RE/MAX Corporate, which aims at expanding the real estate exports market and initially targets achieving 6% of the company’s total sales in 2019 from the same market, Invest-Gate reports.
RE/MAX Corporate will work closely with major local developers to market their properties externally through RE/MAX network in more than 117 countries worldwide, while supporting major investors in their foot-print expansions in Egypt through RE/MAX local network across six governorates nationwide, the company revealed during a press conference on February 5.
During the conference, RE/MAX also announced plans to increase its sales by roughly 84.6% during 2019, targeting EGP 6 bn.
Commenting on the move, Khaled Nasser, chairman and regional director of RE/MAX in Egypt and the UAE, said, “The devaluation of the EGP in 2016 was a turning point in luring in foreign investors, given the attractive conversion rates to the local currency, which was reflected in a leap in sales in 2018. Hence, we saw an opportunity to tap into this segment to increase our shares from this potential market.”
Nasser added that the overall global export market is estimated at USD 2 trn, while Egypt’s share does not exceed 2%, pointing out that it is “a promising market and can have a positive impact on Egypt’s income and the overall economy.”
In addition, the company plans to further expand across 12 governorates and implement 50 and 70 offices in 2019 and 2020, respectively, with more than 1,000 agents, he revealed.
The chairman also highlighted the real estate sector’s challenges, as well as, its significance in altering the nature of real estate brokerage in Egypt to achieve greater transparency and professionalism.
RE/MAX has been operating in Egypt since 2013 and is currently operating in six governorates, including Cairo, Giza, Alexandria, Red Sea, Dakahlia, and Gharbia, through 32 offices and 600 real estate agents.
Headquartered in Colorado, US, RE/MAX is the world’s number one franchise real estate marketing company, and is the fifth largest franchise around the world. With 46 years of experience since 1973, RE/MAX is operating across 117 different countries, through 8,000 offices and 125,000 real estate agents.
