(Yicai Global) March 27 -- China’s second-biggest real estate agency platform 5i5j has inked a deal with the financial arm of Chinese home appliance maker Haier Group to work together on long-term rentals, leasing and smart home services.
Qingdao-based Haier Financial Holdings will provide credit aids for Beijing 5i5j Real Estate Brokerage Co.’s long-term rental apartments and smart home leasing business, 5i5j parent Kunming Sinobright Group Co. said in a statement.
The cooperation will help 5i5j, meaning “I love my home” in Chinese, to increase apartment rentals and to offer users a better rental experience, Kunming Sinobright said, adding that the link-up will assist the firm in its efforts to transition from a regional commercial real estate operator to a national-level supplier of comprehensive services spanning China’s urban areas.
Haier Financial Holdings will offer its supply, leasing and operation services related to smart home products to 5i5j’s property portfolio, while also strengthening community-based marketing of its connected home appliances.
Kunming Sinobright acquired an 84.4 percent stake in 5i5j for CNY6.6 billion (USD1.0 billion) at the end of last year.