HONG KONG-The race to embrace professionals who can bolster itsexpansion across China has resulted in the appointment of threesenior executives by CB Richard Ellis. The global real estateservices firm has a 30-year track record in the country, butChina's economic boom and accelerated urbanization are creatingfresh opportunities requiring top talent to pursue goingforward.

“As we grow our business across Greater China, we will continueto look to differentiate ourselves via the recruitment andretention of the best human capital available,” says Chris Brooke,CBRE's regional president and CEO. The executives welcomed in thelatest round are “capable and experienced individuals” who willbolster the 12 existing Chinese offices, he says, “whilst at thesame time continuing to expand our geographic presence.” CBRE isalready in markets like Beijing, Chengdu, Dalian, Guangzhou, HongKong and Shanghai and is formulating a plan to seek out new venuesover in near term.

The three hires include Greg Penn, named a senior managingdirector. He will oversee investment sales. An explosion ofcross-border capital has resulted in significant opportunities toservice buyers and sellers of commercial properties in China whilehomegrown capital also is becoming more prevalent in Mainland Chinaand Hong Kong. Rules making it easier for Chinese investors in HongKong are on the horizon, for example, and the country's burgeoningwealth is further increasing the prospect of sales as individualsseek to place capital. Penn also will serve on the Greater ChinaStrategic Group.