Asteco franchisees contribute 75% annual increase in sales

L-R Anusha Naik, Shoaid Ahsam, Khari Khan, Irfan Qadir, Collen Olaybar, Muhammad Amjad, Ramzan Shahid, Hussein Al-Safadi, Hashim Ahmed, Khurshid Ali, Kashif Saleem and Sunil Lokhande
  • Leading real estate company Asteco celebrates achievements of 14 franchises in the region as part of the company’s inaugural franchise awards;
  • 75% increase in sales and 50% rise in leasing attributed to the franchisees

Asteco, the Middle East’s largest independent full service real estate company, has underscored the success of its licensing division with the inaugural Asteco Franchise Awards, which took place at Towers Rotana in Dubai recently.

There was a total of five awards, each recognising the outstanding contribution each of the franchisees made to Asteco’s sales and leasing figures, which currently sit at over AED13 billion in sales and nearly 16 million square foot in leasing.

The top accolade, Best Franchise, was won by the Asteco Savana Office in Dubai, led by Hashim Ahmed. Criteria included the number of sales completed, residential and office leasing success rate and growth of the franchise.

“Hashim and his team always exceed their targets,” said John Stevens, Managing Director, Asteco. “He is never afraid to reinvest his profits into his business, which culminated in a move from Marina Plaza to Emaar Business Park, marking our first franchisee with a retail unit. As a result, the walk-in trade is excellent. We are confident that it is going to be another great year for Hashim and his first-class team.”

Asteco is the only locally established, full service real estate business in the region offering a bespoke franchise opportunity. As the largest real estate franchise company in the Middle East, Asteco currently has 14 franchises in Dubai, Jordan and Saudi Arabia, which have generated a 75% year-on-year increase in sales and a 50% rise in leasing. Combined, the franchisees employ 141 brokers and 20 administration staff, while the company also has a training academy as part of its value add to the franchises.

Asteco’s Licensing Services division was launched in 2014 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.

All franchisees can leverage Asteco’s 30-year brand pedigree and its successful business model. It offers tailored set-up support services, bespoke operating areas, regional brand visibility and access to an enviable sales and leasing portfolio, which currently stands at more than AED2.5 billion worth of property for sale and 1.5 million square feet of leasable space.

Asteco’s franchise model also provides partners with a high value referrals service, access to Asteco’s market research and quarterly reports, dedicated intranet with a comprehensive range of resources, regular communication and updates, as well as use of the industry-leading real estate software and CRM platform.

“All our franchisees have a wealth of experience in real estate and a business pedigree that is in sync with our own approach to market development,” said Stevens. “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. This ensures that franchisees will deliver the same exacting levels of service that has been the foundation of our business success.”

Other winners on the day included:

Best Sales Broker – Hussein Al-Safadi from Asteco Astra Plaza, the company’s franchisee in Jordan. Hussein sold more than 150 units in 2016 in tough market conditions.

The Best Leasing Broker – Muhammad Amjad from the Asteco Archers Office, Dubai.

Best Mystery Shop – Asteco Haxxon Office, Dubai managed by Muhammad Ali.

Most Compliant Office – Asteco Archers Office, Dubai managed by Ramzan Shahid

“We would like to congratulate all the winners,” said Stevens. “Our franchisees are passionate, service-oriented and commercially astute. We are looking forward to working with them in 2017 and beyond to grow their own businesses with our brand presence in what is one of the most dynamic, challenging and fastest developing markets in the world.”