In order to strengthen the presence of CB Richard Ellis in Southern China, CB Richard Ellis formally opened an office in Shenzhen in February 2007; this new office will complement the existing operations of the company in Guangzhou and will expand the business scope of CB Richard Ellis in Southern China, as the company looks to strengthen service capabilities in response to demand from domestic and international developers, investors and occupiers.

Shenzhen represents one of the pioneer cities associated with the implementation of the “open door” policy in China. In recent years, the economy in Shenzhen has witnessed steady and sustainable growth, providing strong support to the development of the local real estate industry. It its estimated that within the next five years, the economy in Shenzhen will maintain a growth rate of at least 13% in aggregate terms. Shenzhen has consistently ranked very highly amongst medium and large cities in terms of per capita income, and correspondingly the demand for real estate within the city has increased steadily. In addition, Shenzhen is one of the largest commercial cities in China, attracting many local and international enterprises to locate and in vest within the city. This trend has also led to the increased maturity and development of the real estate market in Shenzhen and has resulted in a growing demand for professional real estate services from both domestic and international companies.

In line with the potential business prospects associated with Shenzhen, CB Richard Ellis has established an office in the city in order to meet growing clients needs and market demand. As a result of the establishment of this new office, CB Richard Ellis will be well placed to provide a wide range of real estate service in Shenzhen, including Investment, research, consulting, valuation, sales and leasing, as well as property management.