Maclean is credited with positioning the company in the region

Dubai, February 21, 2007: CB Richard Ellis (CBRE), the world’s largest full-service real estate services company, has reappointed Nicholas Maclean as Managing Director of their regional operations in the Middle East, for another three years.

An expert in key areas of real estate, including investment and valuation advice, Maclean was originally appointed as managing director for CBRE Middle East in 2003, with the mandate of extending CBRE’s successful operations in the major international markets to the region.

During the past three years Maclean has remarkably positioned CBRE as a market leader, with a diverse clientele and highly distinguished partners, including Dubai International Capital and The Developers in Abu Dhabi. The reappointment means that Maclean will continue to steer the company for another three years in one of the most vibrant real estate markets in the world.

“Although we opened our offices in the region in 2004 only, the Middle East has been a focus market for sometime. In fact, intimate knowledge of virtually every major market in the world, including the Middle East, has been one of our key strengths. That strength has now grown many fold over the last three years and I am looking forward to higher levels of growth given the ongoing developments in the region, especially the UAE real estate sector,” Maclean said while commenting on his reappointment.

“The real estate market in the Middle East is fast evolving. From conventional leasing and renting practices it has diversified considerably; more and more local players are now pursuing international interests. It takes full-service real estate companies like CBRE to meet the demands of this market,” Maclean added.

The past year has seen CBRE winning many international accolades including being named Global number 1 at the 2006 Euromoney Global Real Estate Awards. The company also reinforced its leadership position with the acquisition of the Trammel Crow Company last year.

CBRE established its operations in the UAE in 2004 with offices in Abu Dhabi and Dubai.


Notes to editor:

About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a FORTUNE 1000 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2005 revenue). The Company serves real estate owners, investors and occupiers through more than 350 offices (including affiliate and partner offices) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; mortgage banking; investment management; appraisal and valuation; and research and consulting. Please visit our Web site at www.cbre.com.

Lina Anani/Sami Al Shorafa
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