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NAI Adds China Partner, Plans Rapid Expansion

HANGZHOU, CHINA-Locally headquartered Yuxing Real Estate, a residential brokerage firm that is expanding into the commercial real estate business, joins the NAI Global network.

By Brian K. Miller | Updated on January 08, 2007

HANGZHOU, CHINA-NAI Global will be expanding its network in China faster than previously expected now that is has signed up Yuxing Real Estate, a powerhouse in residential brokerage in Zhejiang Province that is becoming a player in the commercial brokerage market. Yuxing’s clients include corporations and property owners, including Guoxiu Finery, Songdu Group, MetersBonwe and City Chain Hotel.

Yuxing, now NAI Yuxing, has one commercial brokerage office in Hangzhou, where it is headquartered, but plans to expand its commercial real estate services into several additional markets in 2007. NAI Global president Jeffrey Finn tells GlobeSt.com that his company now has four offices flying the NAI flag in China and will more than double that total by June. Likely near-term expansion markets include Guangzhou, Shenzhen, Tianjin and Chengdu, he says.

“We started in China eight years ago and for the past five years have had a presence in Hong Kong, Beijing and Shanghai, but now both multinationals and investment clients are looking to expand deeper into China and pricing pressure starts to be felt in those initial markets,” Finn says. “With them, we’re looking at entering another 15 to 20 cities where there is abundant labor.”

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