RE/MAX Holdings, Inc. (NYSE: RMAX) disclosed that it has finalized the sale of Master Franchise Rights in the Republic of Kazakhstan and the Republic of Uzbekistan. This is the first time RE/MAX has sold Master Franchise Rights in Central Asia, and it marks the beginning of the brand's future growth in the Euro-Caucasus Region, bridging the European and Asian markets.
RE/MAX will be one of the first international real estate franchises available in Kazakhstan. It will be critical in improving the country's international presence and garnering global clients' attention. According to Bazarsuren, his team aims to improve the local real estate brokerage sector by introducing new standards and ethical values.
Furthermore, RE/MAX Vice President of Worldwide Growth and Development stated that this is a relationship-based firm with a proud global community. These developments help associates professionalize and transform their local real estate businesses, while also boosting professions and assisting people and families in finding their communities. It's all coming full circle now.
In addition, Region Owner Karaduman disclosed that Uzbekistan is one of the world's greatest emerging countries, evolving into an open economy with a rapidly rising working-age population. The economy of Uzbekistan is stable, and housing projects are thriving, but its real estate industry as a business must improve its image. Region Owner believes that the RE/MAX system, which is backed by worldwide experience and solid brand recognition, will assist to alter our real estate market and position us as the paradigm of real estate business.