Dubai: Family office and investment firm Vivium Holding has acquired Viva Sotheby’s International Realty in Spain, it said on Thursday. This will mark the foray of Vivium -- a strategic partner of Luxhabitat Sotheby’s International Realty – into the European brokerage and advisory sector.
Viva Sotheby’s International Realty operates across seven locations, including Madrid, Ibiza, and Mallorca. This acquisition has also expanded Viva’s service regions to include Andalusia, with plans to expand into 14 regional cities in the Spanish market within five years. The company will focus on strengthening partnerships with local luxury developers and attracting talent, said Vivium Holding.
Elie Khouri, Founder and CEO of Vivium Holding, said, “By expanding into new territories, we gain a strong advantage, strengthening our presence and capabilities in the industry.” This strategic move also follows Vivium’s recent establishment of Saudi Arabia Sotheby’s International Realty and its acquisition of United Kingdom Sotheby’s International Realty.
Philip White, President and CEO of Sotheby’s International Realty, says: “According to Instituto Nacional de Estadistica (INE), Spain is seeing increased demand, and in 2022, home sales saw an increase of 14.7 per cent. Spain remains a favoured destination for both investors and businesses.”
White said, “We’re also seeing second home buyers, including Americans, flock to the area due to the country’s favourable conversion rates, climate, proximity to coastal locations, and lifestyle offerings."