RTTNews | Aug 18, 2021 10:50AM EDT

10:50 Wednesday, August 18, 2021 (RTTNews.com) - Shares of Chinese real estate services company, MDJM Ltd (MDJH) are up more than 15% Wednesday morning after it announced the formation of a new joint venture company in the UK for asset management business.

The new company, Mansions Estate Agent Ltd, is jointly established by MDJM's unit, MD Local Global Limited, Ocean Tide Wealth Limited, a specialist mortgage broker in the United Kingdom, and Mingzhe Zhang.

The company said Mansions Estate will focus on asset management business and expects to provide comprehensive UK real estate-related services, including property leasing, property sales, furnishings, and routine property maintenance, to global investors.

"We believe that our asset management business will be competitive in the market once launched, as we aim to provide responsive and bilingual services to customers from different time zones with affordable and transparent pricing. In addition, we have rich experiences in promoting our clients' property on the online rental market. We expect our asset management business through Mansions Estate to start bringing in revenue and growth for our company soon," said Siping Xu, Chairman and Chief Executive Officer of MDJM.

MDJH, currently at $5.63, has been trading in the range of $3.18- $8.60 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3219682/mdjm-gains-15-after-forming-jv-in-uk-for-asset-management-business.aspx)

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