Appointment of CBRE Indochina to sell JSM
20 September 2010 – The Board of JSM Indochina Limited (AIM: JSM.L) is pleased to announce that CB Richard Ellis (CBRE) has been appointed to sell the property portfolio owned by JSM Indochina Ltd , comprising assets in Ho Chi Minh City, Vietnam, and Phnom Penh and Siem Reap in Cambodia.
The portfolio comprises real estate assets which are either already operational, under construction or those which are suitable for the development of hotels, serviced apartments and retail centers.
Mr. David Simister, Chairman of CBRE
A prime development site located in Siem Reap, next to Raffles Hotel will also be included as part of the sale. The city is the main tourist location for visitors to the UNESCO World Heritage site Angkor Wat and attracts over 2 million visitors annually to
JSM Indochina Limited is a property fund that was set up to invest in both existing retail and residential property and developments sites, primarily in HCMC, Vietnam and Phnom Penh, Cambodia.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide.
CB Richard Ellis established an office in