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REA Group announces strategic partnership with 58 Group on syndication of over 50,000 Australian residential property listings for Chinese buyers

2019-04-17 12:52 10522

HONG KONG, April 17, 2019 /PRNewswire/ -- REA Group, a multinational digital advertising business specialising in property, is pleased to announce a strategic partnership between its online platform Myfun and one of China's leading online real estate listing platforms under 58 Group, Anjuke.

This partnership will allow Myfun to leverage Anjuke's presence in the market, which covers more than 600 cities and counties, to further expand its footprint in mainland China, while Anjuke further enriches its business by providing international properties to Chinese users.

As part of the partnership, Myfun will syndicate Australian residential properties, including daily updates on over 50,000 residential listings on Anjuke's platform. Liaison services will also be provided by Myfun to help users throughout their property journey, while data points such as monthly median price, rental price and annual growth rate of listings in Australia will help Chinese buyers understand the Australian market. Nationally listed properties will be featured, as well as specific listings for Melbourne, Sydney, Brisbane and Gold Coast localities.

"As a leading online real estate listing platform in China, Anjuke has an edge over the market in terms of the coverage of cities, number of listings and wide variety of property agent brand and broker options," said 58 Group's Senior Vice President and Anjuke's Chief Operation Officer Jeff Ye. "The collaboration with REA Group will provide a broader range of information and data to our users. At the same time, Anjuke will provide further resources to show qualitative property listings and market updates to global users for properties in Australia and other markets through the syndication of data and supplementary sharing of resources and technology with REA Group."

Regarding the future prospects of this partnership with REA Group, Jeff Ye also mentioned, "REA Group is equipped with mature management experience and competitive advantages in the industry, with their professionalism in providing property information, development of a property agent network, management of property listings and analysis of property-related data. In the near future, Anjuke and REA Group will continue to have deepened communication and collaboration on technological innovation by adoption of big data analytics, interactive property information display and optimisation of the online platform. We hope to be a role model in the online real estate platform industry in China."

Mr. Kenneth Kent, General Manager -- REA Greater China commented: "Our partnership with Anjuke opens up a broad range of possibilities to offer a superior property search experience to buyers in China. We are excited to announce this partnership as it marks an important step in connecting Chinese buyers with global property markets. It aligns with our core strategy on many fronts and will help provide Chinese investors with greater insight, enabling them to make more informed decisions across a broader suite of international property opportunities."

"This partnership opens a new chapter for us, with further collaboration already under discussion. In the foreseeable future, we will be happy to extend the partnership in terms of rental and commercial listings syndication, and other B2B connection opportunities as well as expansion of other market listings beyond Australia."

About REA Group

REA Group Limited (www.rea-group.com): REA Group Limited ACN 068 349 066 (ASX:REA) ("REA Group") is a multinational digital advertising business specialising in property. REA Group operates Australia's leading residential, commercial and share property websites - realestate.com.au, realcommercial.com.au, Flatmates.com.au -- as well as Spacely, a short-term commercial and co-working property site. In Asia, REA Group owns leading portals in Malaysia (iproperty.com.my), Hong Kong (squarefoot.com.hk) and Indonesia (rumah123.com), and prominent portals in Singapore (iproperty.com.sg), Hong Kong (Gohome.com.hk) and China (myfun.com), and a leading property review site in Thailand (thinkofliving.com). REA Group owns Smartline Home Loans Pty Ltd, an Australian mortgage broking franchise group, and Hometrack Australia Pty Ltd, a leading provider of data property services. REA Group also holds a significant shareholding in property websites Move, Inc in the US and PropTiger in India.

About Myfun:

Myfun.com is designed for the Chinese market to make finding property overseas easy. Myfun connects Chinese property buyers to find home worldwide, provides Chinese buyers a better experience with property information by a team of Property Liaison Specialists to connect the overseas real estate agents, brokers, and property developers and provides professional advices.

About 58.com Inc.

58.com Inc. (NYSE: WUBA) operates China's largest online marketplace for classifieds, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The Company's online marketplace enables local merchants and consumers to connect, share information and conduct business. 58.com's broad, in-depth and high quality local information combined with its easy-to-use website and mobile applications has made it a trusted marketplace for consumers. 58.com's strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. The Company is comprised of 58.com and Ganji, the multi-content category online classifieds platform, Anjuke, a real estate listing platform, ChinaHR, an online recruitment platform that focuses on white-collar jobs, Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services, Zhuan Zhuan, an online used goods trading and service platform and 58 Town, a rural version of 58.com.

About Anjuke

Anjuke was launched in 2007 and acquired and consolidated by 58.com Inc. in March 2015. It is currently one of the leading real estate listing platforms and is focused mainly on real estate sales in both secondary and primary markets, whereas the housing categories on 58.com and Ganji platforms mainly focus on rental and secondary housing sales.

Source: REA Group
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