SINGAPORE (Sep 5): City Developments says its wholly-owned subsidiary CDL China has invested RMB 100 million ($20.3 million) for a 20% stake in mamahome, a fast growing Chinese online apartment rental platform.

Serving both apartment owners and rental customers, mamahome provides an online booking website, online management software, and other value-added services like housekeeping, renovation, 24-hour concierge and call centre. It also provides management for its own brands of serviced apartments, namely Suisse Place, Locca and Login.

The site has over 100,000 apartment listings located in more than 20 Chinese cities. Over three quarters of the listings are in Shanghai, Beijing and Guangzhou.

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