Century 21 China Achieves RMB800 Mln In Property Refinancing Loans

(RTTNews) - China-based real estate services provider IFM Investments Limited or Century 21 China Real Estate (CTC) said it has achieved the milestone of handling a cumulative total of RMB800 million in property refinancing loans.

The company said in May 2014 that it had handled a cumulative total of RMB500 million in property refinancing loans.

Donald Zhang, chairman and chief executive officer of Century 21 China Real Estate said "We continue to make encouraging progress in property refinancing loans which, along with our broader mortgage management services business, are an important pillar of our strategy to increase profitability. We've gained strong momentum in the latter half of this year, particularly in Shanghai and Chengdu, and we plan to expand our loan offering into more cities in 2015."

The company's total revenue from mortgage management services reached RMB16.4 million in the third quarter of 2014, up 69.1 percent from the prior-year period and up 31 percent from the preceding quarter.