MDJM Establishes New Joint Venture Company for Asset Management Business to Implement Global Expansion Strategy
MDJM LTD (Nasdaq: MDJH) has announced the formation of Mansions Estate Agent Ltd, a joint venture in the UK aimed at enhancing its global expansion strategy. This new venture, established with Ocean Tide Wealth Limited and Mingzhe Zhang, will focus on asset management services related to UK real estate, including leasing, sales, and maintenance. The initiative aims to assist global investors in navigating local property regulations, promising competitive bilingual services with transparent pricing. MDJM expects this venture to generate revenue soon.
- Establishment of Mansions Estate Agent Ltd supports MDJM's global expansion strategy.
- The new venture will provide comprehensive UK real estate services to global investors.
- MDJM anticipates quick revenue generation from the asset management business.
- Uncertainties exist due to potential COVID-19 impacts on operations.
- Market competition may hinder the expected success of the new venture.
TIANJIN, China, Aug. 18, 2021 /PRNewswire/ -- MDJM LTD (Nasdaq: MDJH) (the "Company" or "MDJM"), an integrated real estate services company in China, today announced the establishment of a new joint venture company in the United Kingdom under the name of Mansions Estate Agent Ltd ("Mansions Estate"). Mansions Estate is jointly established by MDJM's subsidiary MD Local Global Limited, Ocean Tide Wealth Limited ("Ocean Tide"), a specialist mortgage broker in the United Kingdom, and Mingzhe Zhang. Mansions Estate will be engaged in asset management business and expects to provide comprehensive UK real estate-related services, including property leasing, property sales, furnishings, and routine property maintenance, to global investors. The Company believes that the establishment of Mansions Estate is a significant step for its global expansion strategy.
"Our new asset management business in the United Kingdom could greatly assist global investors in compliance with the local regulations on property rentals, especially when violations of these regulations could damage the investors' rental profits. We believe that our asset management business will be competitive in the market once launched, as we aim to provide responsive and bilingual services to customers from different time zones with affordable and transparent pricing. In addition, we have rich experiences in promoting our clients' property on the online rental market. We expect our asset management business through Mansions Estate to start bringing in revenue and growth for our company soon," said Mr. Siping Xu, Chairman and Chief Executive Officer of MDJM.
About MDJM LTD
With branch offices in Tianjin, Chengdu, Suzhou, and Yangzhou, China, MDJM provides primary real estate agency services to real estate developer clients, and as-needed real estate consulting and independent training services. For more information regarding the Company, please visit http://ir.mdjhchina.com.
About Ocean Tide Wealth Limited
Based in London, the United Kingdom, Ocean Tide is a mortgage services provider targeting Chinese communities and overseas investors. It specializes in providing face-to-face or remote services on overseas buy-to-let mortgages, buy-to-let remortgages, commercial mortgages, development finance, bridging finance, personal and home insurance. Ocean Tide is committed to providing its customers with a personalized service, which encompasses its high standards of financial planning and customer care. More information can be found at http://www.oceantidewealth.com/.
Forward-Looking Statements
This announcement contains forward-looking statements. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. In addition, there is uncertainty about the further spread of the COVID-19 virus or new variants thereof, or the occurrence of another wave of cases and the impact it may have on the Company's operations. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report on Form 20-F and its other filings with the Securities and Exchange Commission.
Investor Contact:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE MDJM LTD
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