By Nick Wilson

International real estate franchise group Century 21 on Thursday officially launched its brand in SA on a platform of 40 franchises around the country.

Cape Town-born Duncan Gray, CEO of Century 21 SA, said that US-based Century 21 believed SA was an "important part of the international market".

"SA is the 20th-ranked economy in the world based on comparisons of GDP (gross domestic product) using the purchasing price parity model," said Gray.

The slowdown in SA's residential property market did not concern Century 21.

He said SA was a "significant area" in which Century 21, as the world's largest real estate brand, needed to have a presence "irrespective of the economic cycle".

"In our opinion, real estate in SA is still very attractive with very strong fundamentals supporting future growth."

Century 21 announced in May last year that it would be entering the South African market.

After that the group started selling franchises, and the first of these opened in October last year. It is now operating from 25 to 30 offices with between 200 and 250 agents and sales staff. Gray said Century 21 SA's turnover had grown from R50m a month in October last year to R200m a month in September.

"With the recent additions to the Century 21 brand in SA, we are forecasting a R3bn turnover for the next 12 months," he said.

This forecast was constantly being "revised upwards" as new franchises came on board.

The Century 21 group, which has 8300 offices in 57 countries, was founded in 1971.

At the time of the announcement that it would be entering the South African market in May last year, the group said it was attracted to the local market because it had distinguished itself internationally as a more attractive destination than others.

The group planned to broker South African properties to local and international buyers.

Century 21 plans to roll out 200 offices in five years and to establish 400 in 10 years.

The group is looking to operate in all segments of the residential property market, as well as the commercial property sector.

Gray said that Century 21 had proven over the decades that its "systems and methods" offered a "winning formula", irrespective of economic cycles.

Business Day