MDJM LTD was incorporated in the Cayman Islands on January 26, 2018. We conduct our business, as an emerging, integrated real estate services company in China, through our variable interest entity which we control via contractual arrangements, Mingdajiahe (Tianjin) Co., Ltd. (“Mingda Tianjin”).
Mingda Tianjin started offering primary real estate agency services in 2002. It primarily provides primary real estate agency services to its real estate developer clients, and provide, on an as-needed basis, real estate consulting services, and independent training services. Currently, Mingda Tianjin’s primary market is in the Tianjin Autonomous Municipality, one of the richest cities in the PRC, ranking seventh in the PRC based upon GDP per capita in 2020, according to China Statistical Yearbook. Since 2014, Mingda Tianjin has expanded its market presence to other first and second tier cities in China including Chengdu of Sichuan province, and Suzhou of Jiangsu province.
Our primary real estate agency services offerings include providing primary agency sales services to residential real estate developers at any stages of the development and sale of a residential real estate project.
Since our inception in 2002, we have been engaged in the sale of 74 unique residential real estate projects, with 58 projects reaching 100% sales completion status as of December 31, 2021.
While we expect the exclusive sales agent arrangements to continue to be the main part of their business, since 2016 we have strategically bid on and won real estate projects as co-sale agents, where we collaborate with other primary agency sales service providers to act as co-agents in a sale.
We also provide, on an as-needed basis, real estate consulting services with respect to any stages or a combination of stages of the development and sale of a residential real estate project. Types of real estate consulting services that the PRC operating entities are capable of providing include consulting, marketing strategy planning and strategy, and advertising services and sales strategies. We provide stand-alone real estate consulting services to clients based upon a consulting service plan we created that tailors to each client’s specific challenges and needs.
For our independent training services, we are engaged by existing or prior real estate developer clients to provide independent third-party training services to the primary agency sales agents the developers have engaged.
Our UK subsidiaries, MD UK and Mansions Estate, commenced operations in August 2021. Mansions Estate engages in asset management business and expects to provide comprehensive UK real estate-related services, including property leasing, property sales, furnishings, routine property maintenance and management, and hospitality and butler services to overseas real estate owners. Mansions Estate implements customized management plans holistically curtailed to the needs of its real estate owner clients. It facilitates a variety of ancillary services, including its real estate marketing and planning services, real estate agency services, advertisement planning services, 24-7 multilingual customer service meeting the demand of an international market, and professional onsite butler team. We believe that the establishment of Mansions Estate is a significant step for our global expansion strategy.