In a positive sign for China’s rebounding housing market, classifieds giant 58.com (NYSE: WUBA) is reporting a surge in new property listings in 2018, according to Sina.com.

Revenue from new property listings was up 50 percent year-over-year in 2018. This has led 58.com executives to announce their intention to help further “open up connections” between real estate agents and property developers.

Representatives of the company confirmed that MAUs across horizontals 58.com and Ganji‘s property sections and vertical Anjuke regularly top 200 million. They have reportedly “peaked at close to 300 million [MAUs].”

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58.com vice president Zhao Yuyang

Last week, 58.com promoted Zhao Yuyang 赵彤阳 to the position of vice president in charge of new property listings. She’ll report to 58.com vice president and Anjuke COO Ye Bing 叶兵. 

The company is currently facing off with Beike (AKA, Ke.com), an open source listings platform launched by Beijing agency brand Lianjia in April 2018. The company has since confirmed that Beike will become its own independent business entity.

The new site is being bolstered by a major marketing campaign, fronted by movie star Huang Xuan 黄轩, one of China’s most famous leading men (nicknamed “The Nation’s First Love”).

Lianjia announced a $2 billion U.S. private placement in September. Ten­cent in­vest­ed $1 bil­lion U.S. and pri­vate-eq­uity firm War­burg Pin­cus added $500 mil­lion U.S. The round valued the company at $13 billion U.S. Lianjia announced that the new funding would be directed toward Beike.

 

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