TIANJIN, China, Oct 29, 2019 (GLOBE NEWSWIRE) – MDJM LTD (Nasdaq: MDJH) (the “Company” or “MDJH”), an emerging and integrated real estate services company in China, today announced that the Company has entered into a primary real estate agency services contract (the “Agreement”) with Tianjin Aizhishan Real Estate Co., Ltd. (“TARE”), a real estate developer in Tianjin, China.
TARE is a real estate company 100% owned by Great Wall Motor Co., Ltd. (“GWM”), which is China’s largest manufacturer of SUVs and pickup trucks. TARE is currently developing a real estate project (the “Project”) in Tianjin, which is designed to develop up to approximately 147,000 square meters (1,582,294.83 square feet) in total construction area of residential properties for sale.
The duration of the contract is from August 25, 2019 to December 31, 2020. According to the contract, TARE agrees to authorize the company to act as the lead real estate services agency for the project, and no other entity or agency, to the exception of TARE. itself, is authorized to sell the properties of the project. TARE also undertakes to ensure the legality of the project, to manage the financial management of the sale site, to cooperate with the company in its sales of the residential properties of the project and to be responsible for any disputes that may arise from the quality of the housing, mortgage, delivery, etc. , and be responsible for overseeing implementation and other related activities. The Company is committed to providing marketing planning and research service, pre-sales agency service, after-sales transaction management service and other related services.
As part of the Contract, TARE undertakes to pay the Company a primary performance-based real estate agency service fee.
Mr. Siping Xu, Chairman and CEO of the Company, said, “We are delighted to announce this service contract with an exceptional partner, TARE, as we expand our business in Tianjin. Our cooperation is the first step in GWM’s entry into the real estate sector and is of great strategic importance for both parties. We are looking forward to the collaboration with TARE in Tianjin and strive to expand more potential cooperation opportunities with GMW in the future. ”
About MDJM LTD
Based in Tianjin, China, MDJM is an emerging and integrated real estate services company in China. The Company provides primary real estate agency services to real estate developers, including integrated marketing, advertising and strategic planning. The Company also provides real estate consulting and independent training services as required. Currently, the company’s main market is Tianjin Autonomous Municipality. Since 2014, the company has expanded its presence from Tianjin to other cities, including Chengdu, Suzhou and Yangzhou. In addition to its existing core business, the Company also plans to provide real estate marketing, branding and planning services, real estate agency services, beautiful villages operation services and advertising planning services by through its subsidiaries, Xishe (Tianjin) Business Management Co., Ltd., Xishe (Tianjin) Culture and Media Co., Ltd. and Xishe Xianglin (Tianjin) Business Operations & Management Co., Ltd. For more information about the company, please visit: http://ir.mdjhchina.com.
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained 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 regarding future events and financial trends which, in the opinion of the Company, could affect its financial condition, results of operations and strategy. business and financial needs. Investors may 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 assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. While the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from 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 in its other documents filed with the Securities and Exchange Commission.
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