E-House To Launch Two New Real Estate Service Platforms - Quick Facts

(RTTNews) - E-House (China) Holdings Limited (EJ), a real estate services company in China, announced two new strategic initiatives that will expand the company's services to real estate related financial services and community value-added services.

E-House said that, to establish the financial services platform, it plans to form a joint venture, together with SINA Corp. (SINA), Sequoia Capital China, and Yunfeng Capital.

The joint venture will leverage E-House's vast home buyer data and SINA's huge number of high-end online users to launch a series of asset (existing home) backed financial products, bridging individuals who have borrowing needs (borrowers) and those who have investment demands (investors). The real estate financial service joint venture will be an important part of SINA's overall online financial services platform. E-House and SINA will each have a 42.5% stake in the new joint venture.

In addition, E-House announced that it plans to form a joint venture with SINA, Focus Media Holding Limited, and Shentong Express Co., Ltd. to provide online to offline or "O2O" community value-added services. The community-focused joint venture, of which E-House will have a 55% stake, will leverage SINA Weibo, WeMeet social network community online accounts, and mobile applications to reach consumers in local communities.

Together with Focus Media's digital interactive media community networks and Shentong's logistical capabilities, the new joint venture aims to enable homeowners to find and connect with local service providers best suited to meet their "last mile" needs.

E-House said it has signed a strategic cooperation agreement with Shanghai Shangfang Property Management Ltd and nine other leading property management companies in Shanghai in connection with the establishment of the community value-added service joint venture.

The new community value-added service joint venture will target about 500 communities currently served by those ten property management companies, reaching nearly one million residents with online to offline services.