Sotheby’s expands luxury brand into Indonesia, Vietnam

Madison-based Sotheby’s International Realty Affiliates LLC is expanding its brand into Indonesia and Vietnam, it announced Thursday.

The agreement with LIST Co. Ltd., which owns List Sotheby’s International Realty, will allow the brand to expand into Jakarta and Bali in Indonesia and Ho Chi Minh City and Hanoi in Vietnam. Operations in both countries is projected to begin in the second half of 2019.

“The addition of Vietnam and Indonesia to the List Sotheby’s International Realty portfolio will further establish their foothold in Southeast Asia,” said Philip White, CEO and president of Sotheby’s International Realty Affiliates. “Hisashi Kitami and his team have a strong history of growth in the markets they serve, and we are proud to have them lead this venture.”

“Because of geographical and economical closeness, the addition of Indonesia and Vietnam to our current portfolio of locations will facilitate more cross-border transactions, which will be beneficial for all stakeholders including our clients, employees, and agents,” Hisashi Kitami, owner and CEO of List Sotheby’s International Realty.

List Sotheby’s International Realty currently operates throughout the Asia-Pacific region.