Fred’s firm opens new China office
BILLIONAIRE bookmaker Fred Done has launched a new office in China to market his Manchester developments to a global audience.
His residential property sales agency, Salboy International, founded in 2017 with co-founder and property expert Simon Ismail, was established primarily to market sister company Salboy’s Manchester developments including Local Blackfriars and Local Crescent to a global audience.
The company said the China expansion follows a sharp increase in Far Eastern investment sales.
Salboy specialises in private equity investment and property development and, along with Salboy International, is privately owned by Simon Ismail and Betfred founder Fred Done.
The Shanghai office will help facilitate an expansion in its Chinese operation.
As well as marketing its Manchester developments it will also act as a sales agent for other developers around the world.
Simon said: “As one of the most active UK developers selling to Far Eastern investors, we soon realised there was a more efficient and cost effective method of marketing global property developments than was being offered by traditional property agents.
“Our business model not only delivers increased sales volumes but also de-risks much of a developer’s investment into selling internationally. We know from experience how to effectively forward sell any sort of development with a focus on the developer’s needs rather than the agent’s. Our new agency approach whilst reducing developer marketing costs ultimately results in better value for the purchaser.
“It is no surprise we are being instructed to sell on behalf of other developers with a proposition that includes no marketing fees and increased brand protection. Our new larger Shanghai operation will enable us to develop this part of the business even further in a property region we already know inside out.”
Salboy International complements an overall business strategy that has seen Salboy launch its own construction arm, Domis.