May 2026
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Largest Real Estate Services Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
KE Holdings, Onewo, Poly Property Services, Hangzhou Jiebai Group and E-House (China E-Home).
 | KE Holdings, or Beike, is a large residential real estate sales and rental brokerage company in China. Founded in 2001, the company operates through self-owned Lianjia stores in Beijing and Shanghai and connected third-party agencies, including franchise brand Deyou in other cities, with commissions charged on existing-home and new-home transactions. Leveraging an online-offline hybrid model, Beike also attract clients through its namesake online marketplace. The company tapped into home renovation services by acquiring Shengdu Home Decoration in 2022. As of the end of 2024, Beike’s co-founders collectively control the company, while Tencent and its affiliates share 8% of voting power. | $6 | -10% | $18B | $14B | 1.0x | 16.6x | ||
| Onewo Inc is a property management service provider in China. It offers comprehensive property and facility management services to various types of properties, including office spaces, commercial complex, industrial parks, and public premises. The Group is divided into three business segments: Community space living consumption services; Commercial and urban space integrated services; AIoT and BPaaS solution services. Majority of revenue is from Community space living consumption services, which includes Residential property services, Home-related assets services, Other community value-added services. | $2 | -19% | $2B | $811M | 0.1x | 2.6x | ||
| Poly Property Services Co Ltd is engaged in provision of property management services, community value-added services, and value-added services to non-property owners. The Company's property management services are engaged in providing property management services to property owners, residents, and property developers, including security, cleaning, greening, gardening, and repair and maintenance. Value-added services to non-property owners engaged in the provision of services to non-property owners, including pre-delivery and other services, Community value-added services include community living services, such as purchase assistance, turnkey furnishing and move-in services, housekeeping and other bespoken services, parking lot management services, and common area value-added services. | $4 | -1% | $2B | $562M | 0.2x | 1.6x | ||
| Hangzhou Jiebai Group Co Ltd is a China-based company engaged in general merchandise retailing. | $1 | -- | $778M | $197M | 0.8x | 1.7x | ||
| E-House (China) Enterprise Holdings Ltd is a real estate transaction service provider. The company's operating segment includes Real estate agency services in the primary market, Real estate data and consulting services, Real estate brokerage network services, and Digital marketing services. It generates a majority of its revenue from the Digital Marketing services segment, which provides E-commerce, online advertising services, and listing services to property developers and buyers. The company’s operations are located in the People’s Republic of China. | $0 | -64% | $12M | $770M | 2.2x | (333.0x) | ||
| China Evergrande Group is engaged in the property development, property investment, property management, new energy vehicle business, cultural tourism business and health industry business principally in the People’s Republic of China. The company is organized into four business segments: property development, property investment, property management and other businesses. Other businesses mainly include new energy vehicle business, cultural tourism business, health industry business and investment business. | -- | -- | $1M | $86B | — | — | ||
| Median | $2 | -15% | $1B | $790M | 0.8x | 1.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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