eXp World Holdings Expands Real Estate Operations Into Hong Kong
eXp World Holdings (Nasdaq: EXPI) has expanded its operations into Hong Kong, enhancing its status as one of the fastest-growing real estate companies globally. This expansion adds to its presence in 11 other countries, totaling over 50,000 agents worldwide. Led by Michael Valdes, eXp aims to leverage Hong Kong's dynamic market for real estate professionals. The local brokerage will be managed by Kingly Choi, boasting over 15 years of experience. This move is part of eXp's broader expansion strategy, which includes entering additional markets in 2021.
- Expansion into Hong Kong enhances eXp's global presence.
- Over 50,000 agents worldwide indicate strong growth.
- Agent-centric model and local leadership may drive success in a competitive market.
- None.
One of the Fastest-growing Global Real Estate Companies Extends its Footprint In Asia, With the Opening of Hong Kong
BELLINGHAM, Wash., March 30, 2021 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty, one of the fastest-growing real estate companies in the world, has expanded into Hong Kong, under the eXp Hong Kong banner. In addition to its robust U.S. presence, eXp Realty also operates in 11 other countries and locations, including Australia, Brazil, Canada, France, India, Italy, Mexico, Portugal, Puerto Rico, South Africa and the United Kingdom, with more than 50,000 agents across the globe.
eXp Realty’s worldwide expansion is being led by Michael Valdes, President of eXp Global and an international real estate veteran with experience opening markets around the world.
“Hong Kong is globally recognized as a leading multicultural center of international trade and finance,” said Valdes. “As one of the most dynamic real estate markets in the world, it is an ideal fit for our model. We’re thrilled to empower real estate professionals in Hong Kong to grow their businesses and transform their communities.”
eXp Hong Kong’s brokerage operations will be led by Kingly Choi, Managing Director and Broker, eXp Hong Kong. Choi comes to eXp with more than 15 years of experience in various Asian real estate markets.
“The launch of eXp Hong Kong is an agent-centric shift for the real estate industry,” said Kingly. “As the Hong Kong real estate market continues to evolve, the eXp model will lend well to agents and brokers seeking a rewarding model, while ultimately benefiting the end consumer. We are already seeing tremendous interest in the eXp platform, and we look forward to setting a new industry standard.”
Hong Kong represents one of the four markets that eXp Global has identified for expansion during the first quarter of 2021. Puerto Rico, Brazil, and Italy have already opened eXp operations in the first quarter of 2021. eXp has recently announced three additional countries to be launched in the second quarter of 2021, including Colombia, Spain and Israel.
eXp Realty offers a unique financial model for residential and commercial real estate agents, going beyond attractive commissions to provide its agents with an opportunity to earn additional income by helping the company to grow its revenue base anywhere in the world. Agents can also earn equity in eXp World Holdings stock for listing and selling activities. eXp’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative platform, enabling agents and staff to communicate, meet and conduct business in a virtual world.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty, Virbela and SUCCESS Enterprises.
eXp World Holdings and its global brokerage, eXp Realty, is one of the fastest-growing real estate tech companies in the world with more than 50,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Italy, Mexico, Portugal, France, Puerto Rico, Brazil, Italy and Hong Kong and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.
For more information, visit https://expworldholdings.com/.
Safe Harbor Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the economic and social effects of the COVID-19 pandemic; continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our new commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Media Relations Contact:
eXp World Holdings, Inc.
Mediarelations@expworldholdings.com
Hong Kong Media Relations Contact:
eXp Hong Kong
pressrelations@exphongkong.hk
Investor Relations Contact:
MZ Group – MZ North America
Investors@expworldholdings.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c3e77cf2-ea6a-4475-8a2d-3a2c47786349
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