Dewaele Group is taking its competitor, First Real about it. That the two chains have agreed to. This results in a group of 38 offices, is the second-biggest player amongst real estate agents, and after, ERA, and Century 21. The new company will be the largest independent agency in Belgium.
the Financial details around the acquisition were not disclosed.
the Dewaele Group is mainly active in the East-and West-Flanders and in Brussels, belgium, as the First real Estate is a well-known player, is in the city of Antwerp and East-Flanders, belgium. Their network is, therefore, complementary to each other. The two companies will use it to his own words, ” to have the same values, with a locally-rooted network of post offices which is to be controlled, in order to be able to guarantee it.
The acquisition is also part of the story of globalization is in the real estate industry. The small players are likely gobbled up by the big boys. Due to the required scale, there are all the necessary resources to invest in marketing, IT, and innovations, such as digital signature, virtual reality,… “as a Result, the continuity and stability of our group will continue to be covered, both for our employees and for our customers,” said Philippe Dewaele.
The new group has been accounted for 38 offices, 220 employees and an annual up to 2400 transactions, and 2,000 in rental transactions. The company is also a trustee of more than 500 blocks of flats.
