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. Last Updated: 07/27/2016

Realogy to Double Century 21 Outlets

Realogy, the biggest residential real estate broker in the United States, aims to double its Century 21 outlets in Russia by the end of the year to take advantage of a construction boom, Realogy vice president Bill Hunt said Thursday.

Century 21, through franchise agreements, aims to build a chain of 100 offices across the country this year, Hunt said in an interview.

"Russia, India and China are our main focus" for sales growth, Hunt said before a briefing to discuss the opening. "Emerging markets are really our future."

Housing construction in the country climbed 51 percent in the first quarter as builders rush to fill demand after seven decades of Soviet-era housing shortages.

Century 21 registered its trademark in the Soviet Union in 1989. The company has an office in St. Petersburg and its partners there will open 10 outlets in the city within 18 months, Hunt said.