CDL moves into Mamahome with $15m investment

Sep 7, 2016 • Thierry Heles

Real estate firm City Developments has made a strategic investment in the short-term apartment rental platform, taking a 20% stake.

China-based serviced flat rental platform Mamahome secured RMB100m ($15m) from real estate company City Developments (CDL) subsidiary CDL China on Monday in return for a 20% stake.

Plastics manufacturer Shanghai Chongfu and E-House Capital, the financial services arm of real estate firm E-House China, will own 56% and 24% of Mamahome respectively, though their financial contributions to have not been disclosed.

Mamahome operates an online platform through which users can book short-term serviced apartments that include features such as a…

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