Greenwood Village, Co - 25 May, 2005 -

Zayed and Solah Al Jaidah operating as Jaidah Brothers have purchased the first RE/MAX franchise in Qatar, making it the 56th country for the global real estate franchisor. Both “Western educated,” and with business backgrounds in technology and banking, they decided to open a real estate operation because of the strong market expansion in the area. They selected RE/MAX rather than try to establish a new and unknown company. "The aim at RE/MAX Qatar is to follow a creative method and well-studied strategy supported by a comprehensive and qualified team and experienced management in both local and international markets," said Zayed Al Jaidah. "In the coming months, look for the famous RE/MAX hot air balloons all over Qatar." Qatar is a peninsula bordering the Persian Gulf and Saudi Arabia with a population of 863,000 whose primary language is Arabic although English is commonly used as a second language. The country transformed itself from a poor British protectorate noted mainly for pearling into an independent state with significant oil and natural gas revenues. In 2001, Qatar, which is a traditional monarchy, resolved its longstanding border disputes with both Bahrain and Saudi Arabia. Oil and natural gas revenues enable the country to have one of the highest per capita incomes in the world. The capital city is Doha and the country’s economy is comprised primarily of Oil and gas production and related services. In recent years, Qatar has consistently posted trade surpluses largely because of high oil prices and increased natural gas exports, becoming one of the world's fastest growing and highest per-capita income countries. The national currency is Qatari rial (QAR). "The excitement shown by the Jaidah Brothers in opening this new RE/MAX operation is heartening," commented Peter Gilmour, RE/MAX senior vice president, international franchise sales and brokerage. "They are obviously committed to high quality real estate service in Qatar and their new operations will lead to unique international referral business throughout the RE/MAX global network."

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