Vanke to invest $440m in Chinese online real estate agency Lianjia

An employee walks past a logo of Vanke at its headquarters in Shenzhen, south China's Guangdong province, November 2, 2015. REUTERS/Tyrone Siu

China Vanke Co Ltd, a leading real estate company in China, has agreed to invest $440 million in a Beijing-based online real estate agency, Lianjia, according to a report in China Money Network.

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.

Also Read:

China property giant Vanke buys Shenzhen Metro unit for $6.9b

Backed by $926m Series B funding, Lianjia to IPO in China, HK or US: Report

China’s Huasheng Capital leads $926m Series B in Lianjia: Report

Singapore: Banyan Tree to consolidate China assets via JV with China Vanke

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.