ERA Real Estate, a global franchising leader within the Realogy family of brands, announced today the signing of a master franchise agreement for Paraguay with Rutland S.A. This marks ERA Real Estate’s first expansion into South America.
Rutland S.A. is led by owner Ernesto Orosman Gomez and CEO Francisco Manuel Gomez Mansilla. It will serve as the brokerage operations of Fortaleza, a nearly 30-year old leading development firm. Fortaleza has approximately 200 employees and has developed notable recent properties as Boggiani, Molas Lopez and Carmelitas, creating more than 750 housing units. It has a current pipeline of more than 8,500 apartments in the coming years.
The Paraguayan real estate market continues to boom. Both sales prices and the number of multi-family housing projects are experiencing positive growth, especially in the capital city of Asunción. The number of homeowners in the region is 86,400 and doubles that of renters. The country of nearly seven million people has a homeownership rate of 76.3%.
ERA Paraguay will launch with a flagship office in Asunción. In addition, ERA Paraguay intends to expand its franchise system throughout the country. ERA Real Estate has a presence in 31 countries and territories throughout Africa, Asia, Europe, and North America. It began franchising internationally in 1981 with Japan as one of the first in the real estate industry to expand outside of the U.S.
“As a global leader in real estate with over 36,000 affiliated agents worldwide, we are thrilled to have found great partners to launch the ERA brand in Paraguay as our first master franchise in South America. Francisco and Ernesto have a tremendous understanding of the Asunción market and where growth opportunities exist in the region and nationwide. Their partnership with Fortaleza allows them to represent properties that meet the needs of potential buyers. Francisco and Ernesto recognized that to expand in the Paraguayan market, franchising with ERA provided unique advantages to help build a successful company. We are excited to welcome ERA Paraguay to our Team ERA global network of real estate professionals.” - Sherry Chris, President and CEO of ERA Real Estate
“The real estate industry is considerably dynamic. In order to succeed, you must be at the forefront. Paraguay has enormous potential and with the support from the ERA brand, we can quickly capitalize on the momentum that we are seeing in the region today. Likewise, we were immediately drawn in by the innovative technology and supportive tools that ERA® Real Estate had to offer. We knew it was exactly what our company needed. We understand where the industry is headed and we’re excited to go there with ERA Real Estate.”
- Francisco Manuel Gomez Mansilla, CEO of Rutland, S.A.