Intero International Franchise Services, LLC Signs First Franchise in Asia
Posted by Teressa Francis — January 31, 2011
CUPERTINO, SILICON VALLEY, USA – (January 31, 2011) Intero International Franchise Services, LLC. (“Intero”) announced the signing of its first international franchise in Asia located in Shanghai, China with Global Gate Property Corp (“GGP”).
GGP is an international real estate group, who works with investors seeking to gain exposure to real estate investment opportunities. A highly experienced management team leads GGP. The team has been operating in Asia for over three decades, and has built up an extensive network of connections across Asia.
GGP CEO Gary Ohlbaum said the deal with Intero® creates a great opportunity to link with a company with a strong Western US presence that is the market leader in Silicon Valley, California. "Being part of this global community allows us to offer our partners and clients investment opportunities from within the group rather than referring out the business to other brokerages," said Ohlbaum.
David Cheung, who heads GGP’s Shanghai operations, said: "The continued growth of Asia’s economies, high asset prices, particularly in real estate, and rising currencies relative to the US dollar, have made Asians significant buyers of US real estate. The Intero brand’s strength in the US, particularly in California, where many Asians choose to buy given its geographical proximity to Asia, established Chinese community, favorable climate, and economic, educational and work opportunities, make it the ideal partner to provide quality real estate investment opportunities to our client base."
The first Intero franchise in China follows the company's plan to expand internationally throughout the Asia-Pacific region. Intero International offers master franchise opportunities in select markets throughout the world.
Intero Chairman Bob Moles pointed to China’s huge growth in home ownership and with 1.3 billion people it presents a great business opportunity. "With the Intero strong value proposition, we know that our company will quickly rise above the competition," he said.
Intero CEO Gino Blefari noted that the first Shanghai franchise represents the company's commitment to solidifying the brand's global presence, a necessary element to thrive and innovate in today's real estate business.
"We’ve always thought about expansion in terms of the individuals involved. We go where we find people who are the right fit for the Intero brand because they have the same values and believe in the culture we’ve created. The GGP executives are those people. With them on board, we simply couldn’t pass on the opportunity to expand,” Blefari said.
About the Intero® brand
Founded in 2002, Intero Real Estate Services, Inc. has quickly become one of the premier real estate brands in the U.S. In 2004, Intero Franchise Services Inc. began franchising and is currently operating in many western states. In 2009, Intero International Franchise Services, LLC embarked on developing around the world. The companies are private and headquartered in California's Silicon Valley.
GGPC is an international real estate investment and services group, with offices and associates in North America and Asia. GGP brings together a management team with over three decades experience in international real estate and of operating and investing in Asia. GGP works with Asian investors seeking to acquire real estate in the US, the UK and Europe, and with international investors looking to acquire real estate in China, including specialist divisions for Agricultural and Forestry investment into China. GGP is listed on the US NASDAQ OTCBB (stock code GGPC).