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Real estate industry

CB Richard Ellis Selects Intuit Real Estate Solutions' MRI Chinese Version Software

Strategic Insights

— 1 min read

CB Richard Ellis Group, Inc., a global leader in providing real estate and asset management services, has chosen Intuit Real Estate Solutions' newly released MRI Chinese Version software to enhance its clients' portfolio management in China. The decision comes in response to the increasing demand for certified technology that meets corporate governance, security, and global benchmarking analysis standards. With the MRI Chinese Version, CBRE aims to provide better service to its clients in the China region.

Key Takeaways:

  • CBRE selected Intuit MRI due to its recent certification by the Chinese government, which was a critical factor in expanding the IRES suite of products to mainland China.
  • The MRI Chinese Version software is Web-based, fully translated, and certified by Shanghai's Software Technology Board to comply with jurisdictional financial requirements.
  • CBRE will use the MRI software's Web and remote access capabilities for key foreign-invested portfolios to provide timely and accurate information.
  • The company currently manages 18 million square feet of real estate in Shanghai as a fee manager and has used MRI solutions in Hong Kong, Singapore, Korea, Philippines, India, and most recently, China.
  • CBRE and Intuit MRI are working on plans to introduce the MRI solution to other cities in China, with regional consolidation seen as a growing trend across Asia and the globe.
  • Intuit MRI has developed alliances with credible companies like CBRE to create greater technology opportunities and grow its market share in the opportunistic market.
  • CBRE serves real estate owners, investors, and occupiers by offering strategic advice and execution for property leasing and sales, property, facilities, and project management, and other services.

Statistics:

  • CBRE manages 18 million square feet of real estate in Shanghai as a fee manager.
  • CBRE has used MRI solutions in Hong Kong, Singapore, Korea, Philippines, India, and most recently, China.
  • Intuit MRI serves over 4,500 clients on five continents and in 41 countries.
  • CBRE is the world's largest commercial real estate services firm (in terms of 2005 revenue).
  • Intuit had annual revenue of more than US $2 billion in its fiscal year 2005.
  • CBRE has over 350 offices in more than 50 countries around the world.

Sources:

  • CB Richard Ellis Group, Inc.
  • Intuit Real Estate Solutions
  • Intuit Inc.
  • National Association of Realtors
  • Fortune magazine (2005 revenue)

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