Second Biggest Chinese Internet Retailer is entering Real Estate Segment
JD.com Inc., the second biggest Chinese internet retailer is entering real estate segment by launching a new site on its platform for targeting property buyers. It is doing so in association with leading developers of the country, despite slowing property market of China in the wake of curbs by authorities. The company is going to take steps to integrate online and offline real estate businesses through creation of one-stop service platform to integrate its capacities in marketing, services and the supply chain. It will also build a specialize team which would work with other property companies in the fields of commercial real estate, tourism real estate, senior citizen homes, overseas real estate, as well as develop in-depth tailor-made properties for consumers.
JD.com has also entered into partnership with Country Garden Group, a Guangdong based property development firm to launch a batch of high-quality houses. To boost property sales during the upcoming Singles Day shopping spree this partnership will also offer discounts. JD.com has also entered housing rental sector of China. Beijing Jingdong Shangke Information Technology, an affiliated subsidiary of the company has won a bid from the Beijing housing rental supervision platform to provide technical support.
According to the company at present there are 82 property vendors and 35 service providers on the platform, covering 2,027 projects in 20 plus cities. “We want to position ourselves as a service provider for property developers and will jointly explore new business models with our partners in the future,” said Zeng Fuhu, General Manager of the real estate business unit of JD.com.