Xiaomi's successes are seen in every new phone that comes out on the market. Recently, it has been setting its sights on another new market--the real estate market. KR Asia reported that the mobile phone company has set-up another which was provided with a license to provide 'real estate rental services.'

Mi Space Information Technology, registered on March 26 in Nanjing, was listed with Lei Jun inked in as executive director. Xioami's VP Liu De, meanwhile, was designated as the company's general manager. Parent company Mi Space NJ Ltd was likewise registered in Hong Kong in December last year.

Xiaomi's move appears tied in with the Chinese government's idea to develop the country's housing rental sector. Setting up a company just for that purpose has been the firm's answer to calls for investments into the apartment rental sector, as the housing bubble that affected the real estate property market had made buying property difficult for quite a few of China's up and coming home owners.

It's been a successful year for Xiaomi, evident enough as illustrated by a 1 billion yuan 'bet' among companies. Cai Xing Global pointed out Gree Electric as the other company behind the said 'bet,' where the latter would dole out 1 billion yuan ($147 million) in raises to its many employees' salaries.

According to reports, the raises were courtesy of a standing agreement between Gree's Dong Mingzhu and Xiaomi CEO Lei Jun. The raises will be given out as 1,000 yuan per employee per month, although it is not guaranteed. The amount depends on how each worker performed during the fiscal year of 2018.

The wager happened back in 2013, when Gree and Xiaomi were highlighted as successes during a high-profile awards ceremony hosted by CCTV. As success stories, Lei and Dong met backstage, with Jack Ma and Wang Jianlin welcoming them. The bet was that Xiaomi would post a higher revenue than Gree's in five years, and the rest happened.

Xiaomi's successes might have pushed them into the real estate business, but it's not their first time trying it out. Shunwei Capital, an internet fund backed by Lei Jun himself, was involved in funding Guangzhou-based service apartment operator Youplus in 2014 and 2015. Shuwei Capital was also tagged in the series B financing of Beijing-based Lefull.