Alliance with Century 21 points to more ventures to service the demand for home finance, says consumer finance giant
Bubbling residential property sales have inspired international lender GE Money to spread its reach into the housing loan market.
General Electric's financial arm, one of the 40 restricted-licence banks operating in Hong Kong, yesterday announced the first step in its expansion plan - teaming up with real estate firm Century 21 to target the mass home loan market.
And more ventures focusing on the home loan market are on the way, according to GE Money Hong Kong president and chief executive Kasem Taechawatanathorn.
Mr Taechawatanathorn said the firm was liaising with other Hong Kong real estate agents for similar ventures into the developing the home loan market.
'[Century 21] is our first mortgage privileged partner. We are delighted to enter such an alliance as we see improvement in the local residential property market,' Mr Taechawatanathorn said.
He said GE Money was still looking to acquire a local bank to help transform itself into a fully fledged financial services company.