IFM Investments Limited (NYSE: CTC), the owner of Century 21 China Real Estate, has entered into a series of strategic cooperation agreements with SouFun Holdings Limited (NYSE: SFUN), the leading real estate Internet platform in China. The result is that SouFun will become the second-largest shareholder of IFM Investments Limited.
At the core of this agreement:
"These agreements with China's preeminent online real estate player are a major step forward for Century 21 China Real Estate as we look to shape our business for the future," said Donald Zhang, chairman and chief executive officer of Century 21 China Real Estate. "By combining our unrivaled on-the-ground knowledge with SouFun's well-established platform, we will be uniquely positioned to offer today's buyers and sellers a truly integrated O2O experience. SouFun's online strength will facilitate the upgrading of our franchise model, equipping our agents with better tools and systems to provide more integrated services to our customers, and allowing us to further expand the Century 21 China Real Estate franchise network."
About Century 21 China Real Estate
IFM Investments Limited ("Century 21 China Real Estate" or "CTC") is a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21® brand in China. CTC primarily focuses on China's fast-growing and highly fragmented secondary real estate market, providing company-owned brokerage services, franchise services, mortgage management services, primary services, commercial services and fund management services. CTC has experienced substantial growth since it commenced operations in 2000, and received numerous awards and recognition as franchisor and real estate services provider for its service quality and business achievements. Century 21 China Real Estate became a public company in January 2010 and its ADSs, each of which represents 45 ordinary shares of CTC, currently trade on the New York Stock Exchange under the symbol "CTC". For more information about CTC, please visit http://www.century21cn.com/english.
SouFun operates the leading real estate Internet portal in China in terms of the number of page views and visitors to its websites in 2013, according to DCCI, an independent market research institution commissioned by us. Through our websites, we provide marketing, e-commerce, listing and other value-added services for China's fast-growing real estate and home furnishing and improvement sectors. Our user-friendly websites support active online communities and networks of users seeking information on, and other value-added services for, the real estate and home-related sectors in China. SouFun currently maintains about 100 offices to focus on local market needs and its website and database contains real estate related content covering more than 330 cities in China. For more information about SouFun, please visit http://ir.fang.com.