The real estate arm of 5 star auction house Sotheby`s has announced the opening of its` first office in Northern Africa in Morocco. Morocco Sotheby`s International Realty is owned and operated by David Chicard who brings 15 years of experience to the company. The office is located in the city of Marrakech and will service the surrounding region with plans for expansion in Essaouira, Tangier and Rabat and will be led by Nicolas Beguin who has lived in Morocco for almost 20 years.
Sotheby`s International Realty President and CEO Philip White stated, “Morocco offers a stable and inviting environment for global investors. The country attracts interest from American and Middle Eastern investors due to its`proximity to Western Europe and Marrakech is a promising international city with a growing high-end segment. I am encouraged by our continued expansion and greatly look forward to supporting the Morocco Sotheby`s International Realty team”.
On his part Chicard said, “Morocco has something for every buyer. The region offers a cost-effective alternative to Europe and possesses a variety of highly coveted properties that suit buyer interests including villas for those looking to align their living situations with golf and riads located in the historic heart of the city. My industry experience and our affiliation with Sotheby`s International Realty further enables us to grow our business in the country and on a global scale while catering to the needs of our buyers and sellers”.
Chicard also owns and operates three Sotheby`s International Realty affiliated offices in Belgium which have been operating since 2014 and generated a total sales volume of USD 226m in 2020.
The Sotheby`s International Realty network has more than 24,000 affiliated independent sales associates located in approximately 1,000 offices in 75 countries and territories worldwide. Each office is owned and operated independently.