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RISMEDIA, December 6, 2010—Sotheby’s International Realty Affiliates LLC announced the opening of Turkey Sotheby’s International Realty in Istanbul.

The firm, owned by Emin Hitay, will first serve the Istanbul market. Hitay’s firm has an exclusive 25-year master franchise agreement with the Sotheby’s International Realty brand for Turkey and plans to open additional offices in key markets across the country over the next several years.

“Turkey is a critical part of our growth plan as it represents an important gateway between Europe and the Middle East,” said Michael R. Good, chief executive officer, Sotheby’s International Realty Affiliates LLC. “Istanbul is a melting pot of cultures that continues to expand dramatically, with a population of more than 13 million spread over the European and Asian sides of the Bosphorus. I am confident that under Emin Hitay’s leadership, the company will bring quality service to Sotheby’s International Realty clients worldwide.”

Hitay believes the new company fulfills Turkey’s need for a strong global real estate presence. “Turkey Sotheby’s International Realty will open a new door in Turkey’s global luxury real estate market,” said Hitay. “A luxury real estate brokerage company with a strong international network of hundreds of offices and thousands of sales professionals worldwide is unprecedented here. This exclusive network allows us to ensure customer satisfaction by assisting each client in marketing their properties at both the local and global levels using state-of-art technologies, innovative ideas and exceptional personal service by our internationally trained staff.”

For more information, visit www.sothebysrealty.com.

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