/24-7PressRelease/ - HONG KONG, CHINA - July 10, 2008 - Mr. Zhu will be based in Shanghai and will take overall responsibility for the operation and performance of the offices operated by CB Richard Ellis in Northern, Central, Eastern and Western China. This role will involve the strategic oversight of service delivery and financial results within individual offices within this eographical area as well as ongoing client development activities throughout China. He will also be a member of the Greater China Strategic Group within CB Richard Ellis, which is responsible for the formulation and implementation of business strategy within the Greater China region.
"I am delighted that we have secured such a seasoned professional as Andrew as part of our senior management team at CB Richard Ellis in Greater China. Andrew brings more than 17 years of experience in various fields of the commercial real estate industry to CB Richard Ellis," said Chris Brooke, President and CEO for CB Richard Ellis, Greater China. "Employment of highly experienced professionals represents a key element of our growth and expansion strategy in Greater China. We believe his appointment will be highly beneficial to the company in terms of delivering high quality services and improved professional standards in response to increasing market demands across China."
"I am excited to have joined CB Richard Ellis, a dynamic firm which is growing rapidly in response to the development of the real estate market in China. I believe that market fundamentals remain positive in China, notwithstanding the general slowdown which has been seen in other mature markets around the world. I am convinced that significant opportunities remain for CB Richard Ellis to continue to expand and grow market share within the real estate market in China, and I look forward to contributing towards both the development of CB Richard Ellis as well as the overall real estate industry in China," said Andrew Zhu, Senior Managing Director for CB Richard Ellis, China.
Prior to joining CB Richard Ellis, Andrew was the National Director, Business Development at Cushman & Wakefield, where he was responsible for recognising and capitalising upon business opportunities in second tier cities in China. Andrew obtained his Master of Business Administration Degree in General and Strategic Management from the Maastricht School of Management, and a Bachelor of Finance Degree from Shanghai Jiao Tong University.
Over the past decade, the real estate industry in China has continued to grow rapidly as the economy has developed and urbanisation has accelerated. CB Richard Ellis has focused upon building business capabilities across Greater China and has become a leader in the real estate market in the region. CB Richard Ellis currently has 15 offices throughout Greater China, with offices in mainland China as well as Hong Kong and Taiwan. The company plans to further expand in 2008 with a view to further enhancing the geographical coverage and range of services offered to clients throughout Greater China.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis is the only commercial real estate services company named one of the 50 "best in class" companies by BusinessWeek, and was also named one of the 100 fastest growing companies by Fortune. Please visit our web site at http://www.cbre.com.
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