Duocaitou have signed an agreement with Union Apartment for global strategic cooperation and announced its new branch office in North America at the company’s strategic conference in the center of Los Angeles on July 19th.
The participants in the event were: Weihua Zhang, the Business Director of Duocaitou, and Jialin He, the founder of Union Apartment, also a number of investors and media reporters from China and United States.
This is the first time Duocaitou hosts a strategic conference overseas, and it is also an pivotal step for Duocaitou to further expand its presence in global market.
At the conference, Duocaitou and Union Apartment officially reached a strategic cooperation agreement.
The agreement will enable both companies to join force in various dimensions in order to accelerate business development, brand promotion, market expansion and other aspects in North America.
On the same day, Duocaitou North America office is also formally established in Los Angeles, and will command all its succeeding business in the United States. The Union Apartment Los Angeles project is also the first apartment financed and crowdfunded by Duocaitou in North America. The company also reveals that there will be project launch for Seattle properties in the near future.
Regarding its global strategy, Duocaitou has successfully launched financing projects for local properties and assets in more than ten countries and regions including Japan, Thailand, Cambodia，Morocco, Rwanda and Saipan.
Mr. Jialin He, the founder of Union Apartment, announced at the conference that its company has received a new angel investment of over $10 millions, indicating the brand has reached its rapid expansion period.
Mr. Jialin He also introduced the Union Apartment project to the guests in great details.
It is reported that Union Apartment Los Angeles has officially launched financing on Duocaitou. The apartment, located in the Los Angeles Greenland Center, successfully achieved over 90% average occupancy rate in less than one year after its initial operation in July 2017.
Different from other competitors in the market, Union Apartment not only provides a variety of accommodations and life style services, entertainment facilities, but also creates initimate social environment and community activities for residents. The brand aims to help international students to better integrate into American society, making Union Apartment the first apartment brand to incorproate social driven living environment into its services in United States.
Duocaitou facilitates its financing services to three major classes of properties:chain-branded hotel, boutique hotel and apartment, obtaining 70% share of the subdivision market in the chain-branded hotel and boutique hotel financing in China. In terms of financial solutions for high-end luxurious brands, Duocaitou is also in an absolute market leading position.
Duocaitou’s achievement has fascinated many esteemed venture capital firms. The company has received nearly 100 million yuan investment in various rounds of financing. The institutional shareholders include Shunwei Capital, founded by Lei Jun, the chairman of Xiaomi Corp. And DCM China, the well-known international venture capital firm with $3 billion under management founded in 1996.
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