E-commerce behemoths jump on the real estate bandwagon

Major Chinese e-commerce players are betting big on the real estate market and will sell properties during this year's Singles Day shopping spree, in a bid to increase sales revenue, diversify their product portfolio, as well as inject new vitality to the country's housing sector.

Online retailer JD will release more than 6,000 discounted housing resources in cooperation with over 200 property developers in 70 cities across the nation for the upcoming shopping bonanza, while Alibaba Group Holding Ltd will launch over 10,000 properties on Nov 11.

Cao Lei, director of China E-Commerce Research Center, said property developers are facing great pressure to cut inventories as the government has maintained tight regulations to curb speculation in the property market.