Liu Minxia

    mllmx@msn.com

    SHENZHEN-BASED Qfang, a leading online real estate and financial services company in China, announced a strategic cooperation plan Friday in Shenzhen with Dubai’s well-known luxury property developer DAMAC Properties, targeting Chinese buying home abroad.

    “We’re proud to be associated with DAMAC Properties, the leader in luxury real estate sector across the Middle East region and especially in the vibrant and growing city of Dubai,” said Liang Wenhua, chairperson of Qfang. “Qfang, with its 1,200 outlets across 19 cities in China and more than 30,000 sales staff, will be actively promoting and selling DAMAC’s unique real estate investment products offered to Chinese investors.”

    Qfang, established five years ago, branded itself as an “Internet+” company that has real estate trading as its major business and it has an annual turnover of nearly 300 billion yuan (US$47.04 billion).

    Qfang said it has been constructing a big database of cloud house resources based on room number of development projects and its regional matching in more than 40 Chinese cities. Last year, it initiated an O2O brokerage mode that subverted the traditional operation pattern and created the first O2O real estate brokerage platform in China.

    To meet the growing demand of Chinese homebuyers investing abroad, Qfang extended its business scope by servicing clients in Japan, the United States and Malaysia in recent years.

    “We’re delighted to start this cooperation with Qfang that represents one of the most effective sales agencies in China and especially in southern areas of the country,” said Ziad El Chaar, managing director of DAMAC.

    The cooperation with Qfang is a natural continuation of DAMAC’s business operation in China that represents a very important market for the developer where sophisticated investors are looking for lucrative real estate deals across the globe, according to El Chaar.

    Chinese investments in the emirate’s real estate sector reached 2.24 billion yuan last year, which represents a more than 300-percent rise from a year earlier, Dubai’s The Economic Voice newspaper quoted latest statistics issued by the Dubai Land Department as saying.

    Statistics announced last month by the department revealed that the total value of real estate investment from Chinese individuals in Dubai reached 2.07 billion yuan in the first eight months of 2015, El Chaar said.

    With a price range of 1.3 million yuan to 15 million yuan, the projects offered by DAMAC include a number of limited edition homes that were built in collaboration with global brands, including Versace, FENDI, Paramount Hotels & Resorts, The Trump Organization and Bugatti.

    DAMAC is also developing two major lifestyle communities set around a Trump International Golf Club, with one of the courses being designed by world famous golfer Tiger Woods, according to El Chaar.