Nasdaq-listed MDJM Ltd, an integrated real estate services company in China, has announced that its wholly owned subsidiary in the UK, MD Local Global Limited, has agreed to acquire Fernie Castle Hotel from Braveheart Hotels Limited.
In a statement, the company said that it “…believes that the purchase of this hotel, with its historical and cultural value, will be an important initiative for the Company’s business transformation and expansion to specialty hotels, tourism and cultural markets in Europe”.
The Company intends to position the castle as the headquarters for its business and plans to “maximize the castle’s unique historical and cultural value through branding and other strategic initiatives”.
Mr. Siping Xu, Chairman and Chief Executive Officer of MDJM said, “We are exceptionally pleased to announce the acquisition of Fernie Castle Hotel, which is a milestone of our strategic implementation of business transformation and international expansion.
“We believe physical assets play an important role in preserving value against inflation and that, by the time we make considerable progress in the strategic layout of our new business in the European market, our international expansion may become a key growth point”.
MDJM provides primary real estate agency services, and as-needed real estate consulting and independent training services. Through its subsidiaries, the Company expects to focus on international expansion for the development of real estate-related hospitality.