Sotheby’s International Realty Affiliates LLC today announced that it has signed agreements with LIST Co., LTD, which owns List Sotheby’s International Realty, to expand the Sotheby’s International Realty® brand presence into Indonesia and Vietnam.
List Sotheby’s International Realty will expand into the important markets of Jakarta and Bali in Indonesia, and Ho Chi Minh City and Hanoi in Vietnam. Operations in both countries are projected to open in the second half of 2019.
Led by Owner and Chief Executive Officer, Hisashi Kitami, List Sotheby’s International Realty currently has a strong presence throughout the Asia-Pacific region including offices in Hawaii, Hong Kong, the Philippines, Japan and a new office opening in Thailand in September of this year.
“The addition of Vietnam and Indonesia to the List Sotheby’s International Realty portfolio will further establish their foothold in Southeast Asia,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC. “Hisashi Kitami and his team have a strong history of growth in the markets they serve, and we are proud to have them lead this venture.”
“Because of geographical and economical closeness, the addition of Indonesia and Vietnam to our current portfolio of locations will facilitate more cross-border transactions, which will be beneficial for all stakeholders including our clients, employees, and agents,” said Kitami.
The Sotheby’s International Realty network currently has more than 22,000 affiliated independent sales associates located in approximately 950 offices in 70 countries and territories worldwide. In 2017, the brand achieved a record global sales volume of $108 billion USD. 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 the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.