(Yicai Global) Sept. 30 -- Chinese property developer Greenland Holdings will join hands with Alibaba Group Holding to construct smart homes and industrial parks. 

Greenland and Alibaba inked an agreement to collaborate in the fields of consumption, healthcare, and finance by using Alibaba's technologies, including artificial intelligence, cloud computing, Big Data, and the Internet of Things, the Shanghai-headquartered property developer said in a statement. 

Greenland embraces technological transformation to break through many ceilings to make room for growth, said Chairman Zhang Yuliang.

The construction of future cities and communities requires thorough digitization, said Daniel Zhang, the Hangzhou-based tech firm's chief executive. Alibaba is looking to create more smart services with partners to integrate digital innovation with all aspects of human life. 

Before this, Greenland has partnered with Huawei Technologies and ZTE to enrich its projects with smart features that are powered by fifth-generation wireless networks.

Editor: Emmi Laine