Sina Spins Off Real Estate Into Separate Portal Company; Ties With Real Estate Agency

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An interesting spin-off from within Chinese portal Sina (NSDQ: SINA) and keen to see if this becomes a trend of some sort with other portals: it is spinning off its real estate section into a separate company and will form a new venture with online real estate agency E-House Holdings, reports Shanghai Daily. The yet-to-be-named portal will feature Sina’s real estate and home decoration channels and E-House’s China Real Estate Information Circle system, a database containing transactions on land, residences, offices and commercial buildings in the country’s 30 major cities. Sina, which will hold about two-thirds of the company’s stake, will provide related advertising, while E-House will develop online products and services for the new firm. More info in the release.

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