The two parties have a long-standing partnership. Since 2014, Lianjia has been a strategic partner with Vanke for property sales and online marketing work.
The two also formed a company named Vanlian to provide renovation and furnishing services to houses, as stated.
The investment announcement come in just three months after a Chinese property developer Sunac China Holdings Ltd made a RMB2.6 billion ($375 million) investment in Lianjia for a 6.25 per cent stake. Lianjia is said to be valued at RMB 41.6 billion ($6 billion) around January.
Prior to that, in April 2016, Lianjia raised RMB6 billion ($926 million) series B from Huasheng Capital, Baidu Inc. and Tencent Holdings Ltd. At the time it was reported that Lianjia was looking at a public listing in either China, Hong Kong or the NASDAQ.
Lianjia has been operating as a sales and rental platform covering 36 cities in China. The company has a 7 per cent market share in China’s online and offline real estate market, as stated.
It has claims to conduct around 1,000 deals per month in Beijing, has got about RMB500 million ($72 million) in revenues by the end of 2016.
Vanke’s investments in real estate development projects are made across China having nearly a thousand property service projects in 64 cities in China. For ventures overseas, their works are present in Hong Kong, Singapore, San Francisco, New York City and London.
In January, Vanke recently also formed a joint venture with Banyan Tree Holdings Ltd to consolidate the ownership of Banyan Tree-branded hotels in China.