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SHANGHAI, China -- CB Richard Ellis Group, Inc. (CBRE) a global leader in providing real estate and asset management services, has selected Intuit Real Estate Solutions`(IRES) newly released MRI Chinese Version software to help better manage its clients` portfolios in China.
IRES, a division of Intuit Inc. (Nasdaq:INTU), develops innovative property management software solutions for the global real estate industry. Intuit MRI is the name of IRES` Asian operations.
"The recent flow of foreign direct investments into Asia real estate, especially in China, has called for higher standards of certified technology to support increasing demands on corporate governance, security and global benchmarking analysis," said Mr. Suwito, chief operating officer for CBRE Greater Asia. "The MRI Chinese Version meets these standards and will enable us to better serve our clients in the China region."
MRI Chinese Version is Web-based, fully translated and certified by Shanghai`s Software Technology Board to comply with jurisdictional financial requirements.
CBRE currently manages 18 million square feet of real estate in Shanghai as a fee manager. It will use the MRI software`s Web and remote access capabilities for key foreign-invested portfolios to provide timely and accurate information. The company also uses MRI solutions in Hong Kong, Singapore, Korea, Philippines, India and most recently, China. CBRE selected Intuit MRI due to the company`s recent certification by the Chinese government.
"We have been working with Intuit MRI in Asia since 1999 and after several successful implementations, we have selected the company, its products, services and people, as the standard for our Asia Pacific operations," Suwito added.
"Achieving national certification of our software was a critical factor in the expansion of the IRES suite of products to mainland China," said Stephen Wilson, managing director of Intuit MRI. "CBRE Shanghai will access the MRI Web product through their regional Hong Kong office, allowing greater consolidation of their China portfolios. We see regional consolidation as a growing trend across Asia and the globe. Our focus is now on growing our market share in this opportunistic market by developing alliances through credible companies like CBRE, and thereby creating greater technology opportunities for IRES and our clients."
CBRE and Intuit MRI are currently working on plans to introduce the MRI solution to other cities in China.
About CB Richard Ellis
CB Richard Ellis (NYSE:CBG), a Fortune 1000 company headquartered in Los Angeles, is the world`s largest commercial real estate services firm (in terms of 2005 revenue).The company serves real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. Including partners and affiliates, the company has over 350 offices in more than 50 countries around the world. For more information please visit www.cbre.com.
About Intuit Real Estate Solutions
Intuit Real Estate Solutions offers business management solutions to the global property management industry as well as to corporate real estate managers. Offering the most flexible solutions with both outsourced hosted offerings and packaged enterprise software, Intuit Real Estate Solutions strives to develop long-term successful relationships with its clients. Currently, the business has more than 4,500 clients on five continents and in 41 countries. For more information, please visit www.realestate.intuit.com.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks(R), Quicken(R) and TurboTax(R), simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries(R) and Lacerte(R) are Intuit`s leading tax preparation software suites for professional accountants.
Founded in 1983, Intuit had annual revenue of more than US $2 billion in its fiscal year 2005. The company has nearly 7,000 employees with major offices in 13 states across the U.S. and offices in Canada, the United Kingdom and the Asia Pacific region. More information can be found at www.intuit.com.
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