Global EditionASIA 中文双语Français
Home / Business / Companies

Alibaba to launch property business on Tmall

By WANG YING in Shanghai | | Updated: 2020-09-16 19:51
Share - WeChat
A logo of seen on a street in Beijing, June 1, 2016. [Photo/IC]

Chinese e-commerce giant Alibaba announced it would establish a property service on Tmall jointly with E-House (China) Enterprise Holdings Ltd on Wednesday.

The Chinese business-to-customer site is offering a property service that combines 3-dimensional shopping technology, livestreaming and financial services, to make it possible for homebuyers to complete all the procedures in home buying online.

The newly established business is going to subsidize homebuyers with all its revenues in the coming three years, according to a report.

Chinese property developers are eagerly adopting digital technologies and exploring new opportunities due to the COVID-19 contagion, said Lu Weixing, general manager of Tmall's property business.

According to Lu, as many as 150,000 units of residential properties were traded on ecommerce site Taobao in 2019.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349