Century 21 China Real Estate Signs Nanjing Franchise Agreement
BEIJING, Aug. 10, 2011 /PRNewswire-Asia-FirstCall/ -- IFM Investments Limited ("Century 21 China Real Estate", the "Company" or "CTC") (NYSE: CTC), a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21® brand in China, today announced that it has signed a regional franchise agreement with Nanjing Guangsha Real Estate (Group) Co.,Ltd ("Guangsha Real Estate"), an established property developer based in Jiangsu Province, under which Guangsha Real Estate will operate a sub-franchising business in Nanjing under the CENTURY 21® brand.
Nanjing has a population of approximately 8 million residents and is the capital of Jiangsu Province. Guangsha Real Estate has a track record of developing residential and commercial real estate projects in Nanjing and other cities across China.
"We are delighted to expand our franchise network into Nanjing, which is experiencing rapid economic growth," said Mr. Donald Zhang, Century 21 China Real Estate's chairman and chief executive officer. "This is a good opportunity for us to broaden our franchise footprint again this year in China's tier-two and tier-three cities, where we believe the real estate market will continue growing at a healthy rate. We intend to continue to identify strong partners throughout China as part of our strategy for sustained long-term growth of our franchise network."
About Century 21 China Real Estate
IFM Investments Limited ("Century 21 China Real Estate" or "CTC") is a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21® brand in China. CTC primarily focuses on China's fast-growing and highly fragmented secondary real estate market, providing company-owned brokerage services, franchise services, mortgage management services, primary, commercial and fund management services. CTC has experienced substantial growth since it commenced operations in 2000, and received numerous awards and recognition as franchisor and real estate services provider for its service quality and business achievements. Century 21 China Real Estate's ADSs, each of which represents 15 ordinary shares of CTC, currently trade on the New York Stock Exchange under the symbol "CTC" following its initial public offering in January 2010. For more information about CTC, please visit www.century21cn.com/english.
Safe Harbor: Forward-Looking Statements
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SOURCE IFM Investments Limited