Century 21 China Real Estate Launches Strategy to Expand Mortgage Management Services Business in 2015
Company to Begin Providing Property Refinancing Loans in Qingdao in Early 2015 and in Further Cities throughout the Year
BEIJING, Dec. 23, 2014 // PRNewswire // -- IFM Investments Limited (NYSE: CTC) ("Century 21 China Real Estate" or the "Company"), a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21® brand in China, today announced plans to expand its mortgage management services business. Having previously operated the segment exclusively through its company-owned store network, which covers Beijing, Shanghai and Chengdu, the Company now plans to offer its mortgage services in more cities through its franchise network in 2015.
As a first step, the Company will begin providing property refinancing loans in the city of Qingdao, Shandong Province, in early 2015. The Company has identified at least 20 cities where it believes it can provide mortgage management services.
"The rapid growth of our mortgage segment in Beijing, Shanghai and Chengdu has demonstrated the significant demand among buyers for a range of mortgage services," said Mr. Donald Zhang, chairman and chief executive officer of Century 21 China Real Estate. "Moving into other cities is a natural step in our expansion of this segment, and we're confident our franchise network is equipped to provide the high-quality service our customers expect from Century 21 China Real Estate."
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 services, commercial services 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 became a public company in January 2010 and its ADSs, each of which represents 45 ordinary shares of CTC, currently trade on the New York Stock Exchange under the symbol "CTC". For more information about CTC, please visit http://www.century21cn.com/english.
Safe Harbor: Forward-Looking Statements
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "confident," "continue," "estimate," "expect," "future," "intend," "is currently reviewing," "it is possible," "likely," "may," "plan," "potential," "will" or other similar expressions or the negative of these words or expressions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. The Company may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements and are subject to change, and such change may be material and may have a material adverse effect on the Company's financial condition and results of operations for one or more periods. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements in this press release. Potential risks and uncertainties include, but are not limited to, the risks outlined in the Company's Annual Report on Form 20-F and other documents filed with the U.S. Securities and Exchange Commission. Unless otherwise specified, all information provided in this press release and in the attachments is as of the date of this press release, and the Company does not undertake any obligation to update any such information, except as required under applicable law.
SOURCE Century 21 China Real Estate (IFM Investments Limited)
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