Tencent-backed (0700.HKG) online sales site 58.com (WUBA.NYSE) announced Monday it had acquired property listing platform Anjuke for US$267 million, following a Sunday announcement from Beijing’s largest real-estate firm by market share, Homelink, saying that it would combine with Shanghai Deovolente Realty–the latest deals that reflect a changing order in China’s property industry,The Wall Street Journal reported. As the country’s property downturn lingers more firms are combining as emerging online services upend the sector. In January Chinese real-estate firm Century 21 China Real Estate was delisted by the New York Stock Exchange after it failed to maintain required market capitalization.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved