SouFun to Launch Financial Services on December 16
BEIJING, Dec. 2, 2013 /PRNewswire/ -- SouFun Holdings Ltd. (NYSE: SFUN, "SouFun"), the leading real estate Internet portal in China, announced today that its financial services platform "SouFun Financial Services Channel" will be up and running on the 16th of this month.
"SouFun Financial Services Channel" will focus on bringing third party financial products and services to SouFun's rapidly increasing home buying members, SouFun certified agents across major cities of China, and developers and home improvement products and services providers. SouFun is also working with qualified financial institutions to launch joint financial products specifically catered to SouFun's members and clients nationwide. In the longer run, SouFun will develop its own financial products pending on China's regulations to support its full-service eco-system of "everything home online."
"SouFun has accumulated over 15 million registered home buying members, over 500,000 certified active agents who are helping property buyers and sellers, plus more than 10,000 developer and home improvement clients. SouFun has been increasingly approached by them for dedicated financial products and services including home mortgage, home insurance, escrow equivalent service, bridge loan, consumption loan, and home equity loan," said Vincent Mo, Executive Chairman of SouFun. "By providing financial products and services to our members and clients, SouFun will on one hand increase the network effect and synergy among its existing marketing, e-commerce, and listing services, and on the other hand add new financial services clients."
Home (property) related financial needs are huge and in early stage of development in China. To build up SouFun's full-service eco-system for home buyers and sellers so that they stick to SouFun in their life long home "business," SouFun's financial services platform will play an important role into the coming 3 to 5 years. In the past 3 years, for new home sector alone, SouFun's e-commerce transaction volume has increased from approximately US$3.6B in 2011, US$11.1B in 2012, to projected US$25.8B in 2013. "I am sure by adding financial products and services to SouFun's leading new home and resale platforms in China, SouFun will be in a much better position to serve its massive visitors, members, agents and brokers, and other clients to drive up its business to a whole new level," added Vincent Mo.
SouFun operates the leading real estate Internet portal in China in terms of the number of page views and visitors to our websites in 2012. Through SouFun's websites, it provides marketing, e-commerce, listing, and other value-added services for China's fast-growing real estate and home-related sectors. SouFun's Internet portal is highly focused on user experience, and supports SouFun's users in seeking information on the real estate and home-related sectors in China. SouFun currently maintains about 100 offices to focus on local market needs and its website and database contains real estate related content covering more than 320 cities in China. For more information about SouFun, please visit http://ir.soufun.com.
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as "will," "expects," "is expected to," "anticipates," "aim," "future," "intends," "plans," "believes," "are likely to," "estimates," "may," "should" and similar expressions. Statements that are not historical facts, including statements about SouFun's beliefs and expectations and the impact of its new financial services platform, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, SouFun's limited operating history, the current global financial and credit markets crisis and its potential impact on the Chinese economy, measures taken or to be taken by the Chinese government to control real estate growth and prices, the success of the new financial services platform, and other events which could recur in the future.
Further information regarding these and other risks and uncertainties is included in SouFun's annual report on form 20-F and other documents filed with the U.S. Securities and Exchange Commission. SouFun does not assume any obligation to update any forward-looking statements in this release and elsewhere, which apply only as of the date of this press release.
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SOURCE SouFun Holdings Limited