JD.com Takes On China's Real Estate Market With New Online Service Platform
Zhang Xia
DATE:  Oct 25 2017
/ SOURCE:  Yicai
JD.com Takes On China's Real Estate Market With New Online Service Platform JD.com Takes On China's Real Estate Market With New Online Service Platform

(Yicai Global) Oct. 25 -- Chinese online retail giant JD.com Inc. [NASDAQ:JD] officially announced its plans to enter the real estate market yesterday, and hopes to integrate the sector with e-commerce to cover residential and commercial properties.

The real estate unit is already accessible on JD.com, where 82 developers and 35 services providers have already settled to offer 2,027 properties across 20 Chinese cities.

China's domestic real estate industry is coming to a turning point, where property firms are struggling to operate, said Xin Lijun, president of JD.com's apparel and home furnishing business unit. The firm's online real estate service will integrate the industry with e-commerce to create a service platform in the 'big real estate era,' and will top traffic and online trading volumes within five years, Xin predicts.

The connection established by the new unit is not just to provide information, said Zeng Fuhu, who heads up the real estate team. It will create a one-stop experience for home buyers through the integration of JD.com's marketing, services, supply chain and other abilities. This will help developers stop competing in advertising and start competing in the service supply chain, making them more competitive, he added.

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Keywords:   JD.com,REAL ESTATE,PROPERTY,E-COMMERCE