CB Richard Ellis Unveils Growth Strategy

CB RICHARD ELLIS UNVEILS AGGRESSIVE GROWTH STRATEGY

Leading commercial property consultants and real estate agents CB Richard Ellis today announced the first step in an aggressive growth strategy with the acquisition of the Wellington office of Raine & Horne Ltd.

Managing Director for CB Richard Ellis in New Zealand, Jon Chomley, says there are significant opportunities in the New Zealand market, and the company aims to be customers' first choice for commercial property services. Rapid growth is planned over the next 18 months to help achieve that.

Mr. Chomley says the merger of the CB Richard Ellis and Raine & Horne offices in Wellington is an excellent example of how this strategy will benefit clients. The two firms had different but complementary strengths, which will now be available to clients within a single company.

Current CB Richard Ellis Wellington Managing Director Kim Clarkson will remain as Managing Director of the combined group. David Taylor, former Managing Director of Raine & Horne, has been appointed as Director of Investment Sales.

Mr Chomley said CB Richard Ellis will also leverage its international network to provide a comprehensive range of services to clients. The largest globally integrated real estate services company in the world, it is listed on the New York Stock Exchange and employs over 10,000 professionals in over 30 countries.

ENDS.

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