Nov 30, 2021 03:43 PM

BUSINESS

ByteDance Ramps Up Push Into Property With 20% Stake in Real Estate Broker

What’s new: ByteDance Inc. has acquired a 20% stake in Beijing Maitian Real Estate Brokerage Co. Ltd., both companies confirmed to Caixin, marking the TikTok owner’s latest push into China’s rental property market.

The move comes after ByteDance successfully obtained a real estate broker’s license in late September by having a wholly owned subsidiary take a 100% stake in Beijing Fuwang Real Estate Agency Co. Ltd., a unit of Maitian.

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