THE CENTURY 21 BRAND GROWS GLOBAL FOOTPRINT WITH EXPANSION INTO GREECE, INDIA AND THE UNITED ARAB EMIRATES

Rhea-AI Summary

Century 21 Real Estate announces expansion into Greece, India, and the United Arab Emirates through new Master Franchise Agreements. In Greece, Antonios Kallas and his sons will develop the network, building on existing operations of three offices and 50 agents. Charles Tarbey, owner of CENTURY 21 Australia/New Zealand, will oversee operations in India and UAE. The UAE's residential property sales are projected to grow from $390 billion in 2024 to $460 billion in 2029, an 18% increase. Greece shows strong housing market trends with increased foreign buyer demand and construction activity, while India's market benefits from stable mortgage rates and high-value property demand.

Positive

• Expansion into three new high-growth markets: Greece, India, and UAE
• UAE residential property sales projected to grow 18% from $390B to $460B (2024-2029)
• Strong market indicators in Greece with increased foreign buyer demand
• Existing foundation of three offices and 50 agents in Greece

Negative

• None.

Insights

Market Research Analyst

The CENTURY 21 brand expansion into Greece, India and UAE represents a strategic move into high-growth markets with compelling fundamentals. The UAE's projected $70 billion increase in residential property sales by 2029 (18% growth) is particularly noteworthy, driven by luxury property demand from high-net-worth individuals. Greece's market shows strength through increased foreign buyer interest and construction activity, while India benefits from stable interest rates and growing high-value property demand.

The expansion leverages existing market synergies, particularly through Charles Tarbey's Australia/New Zealand operations connecting with India and UAE markets. This cross-market approach could create valuable referral networks and facilitate international property investments. The Greek operation's foundation of 3 offices and 50 agents provides an immediate operational base for growth.

MADISON, N.J., Nov. 12, 2024 /PRNewswire/ -- Century 21 Real Estate LLC, a global industry leader and the most recognized name in real estate*, is expanding the CENTURY 21^® brand's international presence with the recent signings of three new Master Franchise Agreements in Greece, India and the United Arab Emirates (UAE), tapping into the growing markets in each of these countries.

The brand is thrilled to welcome Antonios Kallas and his two sons, Yannis and Athanasios, who will oversee the development of the CENTURY 21 network in Greece, further expanding its current base of operations of three offices and 50 independent agents.

"Our affiliation with Century 21 Real Estate in Greece, marks a significant milestone for both our company and the real estate industry in the region," said Antonios Kallas. "This new venture reflects our commitment to bringing world-class real estate services and innovative practices to the Greek market, building on the strong foundation and global reputation of the CENTURY 21 brand."

According to Global Property Guide, Greece is experiencing strong housing market trends including increased demand from foreign homebuyers, more residential construction activity and continued economic growth, reinforcing the country's position as an increasingly visible power player in international real estate.

"As we embark on this exciting journey, our vision is to redefine the real estate experience in Greece by delivering unparalleled customer service, cutting-edge technology and professional excellence," explained Yannis Kallas. "By leveraging the global strength of the CENTURY 21 brand and adapting it to meet the demands of our local market, we have the ability to become the leading real estate brand in Greece, helping clients make informed decisions and realize their dreams, whether they are buying, selling or investing in property."

According to Athanasios Kallas, the company's growth and expansion will be fueled by recruiting local real estate leaders who share their passion for excellence.

"By leveraging the global strength of the CENTURY 21 brand and adapting it to meet local needs, we are confident that we will set new benchmarks in the industry and make a lasting impact," he said.

Charles Tarbey, owner of CENTURY 21 Australia/New Zealand, will oversee the new Master Franchise Agreements in India and the UAE.  He recognized an opportunity to leverage existing connections between his current markets and these new countries, which will. support the expansion of the CENTURY 21^® brand in all four regions.

"Over recent years, many hard-working people from India and the UAE have made Australia and New Zealand their home," explained Tarbey. "Securing the rights to operate CENTURY 21 India and CENTURY 21 United Arab Emirates will allow us to directly support this growing relationship by establishing a direct business relationship that will support the high level of interest in property ownership across all of these two countries."

Global Property Guide data indicates residential property sales in the United Arab Emirates are expected to increase by nearly 18% over the next five years, from $390 billion in 2024 to $460 billion in 2029. Among the primary drivers of growth is a surge in demand for luxury properties due to an increase in high-net-worth individuals seeking investment opportunities. 

India's real estate market outlook is also strong, with stable mortgage interest rates serving as the main drivers. In addition, increasing demand (particularly for high-value properties) and a surge in new development is contributing to a growing real estate market.

"The CENTURY 21 brand has always been known for its commanding global presence. While the numbers are certainly impressive, behind every one of the CENTURY 21 independently-owned companies there is a passionate, experienced and driven operator who is committed to making the global brand resonate locally," said Mike Miedler, president and CEO of Century 21 Real Estate LLC. "The signing of these three Master Franchise Agreements in high-growth international markets helps to reinforce our position as a global industry leader. We foresee even greater growth and opportunity with Antonios, Yannis, Athanasios and Charles as our enthusiastic brand ambassadors."

*Study Source: 2023 Ad Tracking Study. The survey results are based on 1,200 online interviews with a national random sample of adults (ages18+) who are equal decision makers in real estate transactions and active in the real estate market (bought or sold a home within the past two years or, plan to purchase or sell a home within the next two years). Recognition question based on consumer awareness of brand in question. Results are significant at a 90% confidence level, with a margin of error of +/-2.4%. The study was conducted by Kantar Group Limited, a leading global market research organization, from November 17 - December 1, 2023.

About Century 21 Real Estate LLC
Built on a legacy of trust and client-first service, the nearly 130,000 independent CENTURY 21^® sales professionals in approximately 11,100 offices across 79 countries and territories are committed to guiding clients along every step of their real estate journey. As the most respected in the industry*, the CENTURY 21 brand equips its system members with the industry-leading tools, resources, and marketing assets that help take their business to new heights. Century 21 Real Estate has numerous websites to help answer specific consumer needs. They include century21.com, century21.com/global, century21.com/commercial,  century21.com/finehomes and century21.com/espanol.

Century 21 Real Estate LLC is a subsidiary of Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in real estate franchising and provider of real estate brokerage, relocation, and settlement services. 

MEDIA CONTACT:
Erin Siegel
Century 21 Real Estate LLC.
erin.siegel@century21.net
201.913.1432

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SOURCE Century 21 Real Estate LLC

FAQ

What new markets did Century 21 (HOUS) expand into in November 2024?

Century 21 expanded into Greece, India, and the United Arab Emirates through new Master Franchise Agreements.

What is the projected growth for UAE residential property sales by 2029?

UAE residential property sales are expected to grow by 18%, from $390 billion in 2024 to $460 billion in 2029.

Who will oversee Century 21's operations in India and UAE?

Charles Tarbey, owner of CENTURY 21 Australia/New Zealand, will oversee the Master Franchise Agreements in India and UAE.

What is the current Century 21 presence in Greece?

Century 21 currently has three offices and 50 independent agents operating in Greece.