Sotheby’s International Realty Network Expands into Morocco

RISMEDIA, August 1, 2007—Sotheby’s International Realty Affiliates LLC announced its luxury real estate services will be available for the first time in Morocco with the opening of Morocco Sotheby’s International Realty.

The firm is owned by Qatar Real Estate Partners through a joint venture partnership between real estate investment and development leader Qatari Diar and leisure real estate consultant NorthCourse. The brokerage officially opened its first offices in the historic Moroccan cities of Casablanca and Tangier.

“Our expansion into Morocco continues our commitment to provide access to our network’s exclusive real estate services in more countries around the world,” said Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “North Africa is an exciting and emerging real estate market, and we are very pleased that our global clientele will have access to our luxury real estate services in this exotic and storied area.”

Nasser H. Al-Ansari, chief executive officer, Qatar Real Estate Partners, anticipates that the Sotheby’s International Realty® affiliation will attract qualified buyers to his first resort project, Al Houara, in Tangiers.

“We are honored to become the only firm in Morocco able to offer the prestigious Sotheby’s International Realty services, and we look forward to being its premier luxury real estate firm in the region,” said Al-Ansari. “Al Houara is a spectacular world-class resort targeted at an international affluent clientele, blending Moroccan culture with European sophistication. Designed by award winning architects, the result is a community that offers handcrafted luxury and an unrivalled investment opportunity.”

Al Houara consists of three five-star hotels, an 18-hole signature golf course, numerous retail and entertainment facilities and more than 1,100 villas and apartments.

The Sotheby’s International Realty network has more than 8,000 sales associates located in more than 400 worldwide offices. All listings from Morocco Sotheby’s International Realty will be marketed on the sothebysrealty.com global Web site. In addition to the referral opportunities and great exposure generated from these sources, the firm will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.

For more information, visit www.sothebysrealty.com.

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