Vanke builds growth with Homelink

Giant property developer sees good prospects beyond develop-and-sell

Vanke, China's largest residential property developer by market value, plans to spend 3 billion yuan ($441 million) on purchasing shares of Homelink, as the developer is bullish about the Beijing-headquartered real estate agency's development prospects.

Analysts said the two parties are likely to jointly explore a new model to meet demand amid fast growing pre-owned home transactions and tap more segmented markets along the value chain of real estate development and maintenance, such as decoration, property dealing, property management and residential community services.