CB Richard Ellis Opens New Office in Shenyang to Further Enhance Capabilities in Greater China

Hong Kong (SANEPR.com) July 3, 2008 -- This new office in Shenyang represents the fifteenth full service office operated by CB Richard Ellis in Greater China and forms part of the strategic expansion of the company in both the fast growing Northern China region as well as in Greater China as a whole. The opening of this additional office in Shenyang will also allow CB Richard Ellis to better serve the real estate needs of both domestic and international developers, investors and occupiers in China going forward.

Shenyang is the capital city of Liaoning Province, and is one of the most important industrial centres in China. In recent years, the economy of Shenyang has developed very rapidly, primarily as a result of the “Revitalize Northeast China” campaign introduced by the Central Government, as well as the ongoing development of both the software and auto manufacturing industries within the city. In addition, given that Shenyang is a host city for the soccer competition associated with the 2008 Olympic Games, various infrastructure improvements have been implemented within the city, which have also supported the increased level of demand for real estate ever seen in Shenyang.

“The establishment of our office in Shenyang is another important component of the ongoing enhancement of the business operations of CB Richard Ellis in Greater China. With the addition of this office in Shenyang, CB Richard Ellis now operates full service offices in the rapidly growing cities of Tianjin, Dalian, Qingdao and Shenyang, meaning that we are very well placed to meet the real estate advisory needs of clients throughout Northern China. The opening of this office also demonstrates our long-term commitment to the real estate market in China, as well as our continued objective to provide comprehensive services to our clients throughout Greater China,” said Chris Brooke, President & CEO for CB Richard Ellis, Greater China.

“Shenyang has very significant potential in terms of economic development, and is emerging as one of the most important cities for manufacturing, logistics and trading in China. Many of our clients are investing in Shenyang or pursuing real estate development projects within the city. With the emergence of Shenyang as a catalyst for the overall economic growth of Liaoning and other parts of Northern China, we believe that there are a wide range of opportunities within the real estate market in the city. We look forward to forming close partnerships with our clients via the provision of services which combine international best practices and local expertise and which satisfy their real estate needs,” said Peter Lin, Managing Director for CB Richard Ellis, Dalian.

The CB Richard Ellis office in Shenyang will provide a full portfolio of real estate services covering the office, retail, residential, hotel, industrial and logistics sectors, including research, consulting, valuation, leasing, sales and management. The continued objective of CB Richard Ellis is to assist clients to achieve their business objectives in the fast changing real estate market in China, as well as to establish CB Richard Ellis as a key player in the development of the real estate market in China going forward.

Over the past decade, the real estate industry in China has continued to grow rapidly as the economy has developed and urbanization has accelerated. CB Richard Ellis has also expanded in order to serve client needs within this dynamic environment. With the opening of the new office in Shenyang, CB Richard Ellis now has fifteen full service offices in Greater China, in Beijing, Shanghai (Puxi and Pudong), Hangzhou, Guangzhou, Chengdu, Tianjin, Shenzhen, Dalian, Qingdao, Wuhan, Shenyang, Hong Kong (Hong Kong Island and Kowloon) and Taipei, as well as approximately ten project offices and experience in over seventy cities within Greater China. Over the years, CB Richard Ellis has developed a comprehensive business platform which combines the advantages of local market knowledge with the resources of a regional and global network.

Peter Lin, Managing Director of the Dalian office will also oversee the day to day operations and business activities of CB Richard Ellis in Shenyang. Mr. Lin has over ten years experience within a number of areas of the real estate industry. Mr. Lin obtained his Ph.D in Economics and Finance in La Trobe University, and MBA degree in RMIT University in Australia.

CB Richard Ellis Shenyang Office:
Address: Units 2102-2103, North International Media Centre No. 167, Qingnian Street, Shenhe District, Shenyang
Postal Code: 110014
Telephone: (86 24) 2318 2688
Fax: (86 24) 2318 2689

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 www.cbre.com.