(Yicai Global) May 22 -- JD.Com, one of China’s biggest e-tail firms, launched its new realty agency today and plans for Chief Executive Xu Lei to advertise listings in live online broadcasts.
The first properties for sale on the Jingdong Real Estate website are at a lot developed by Zhongjun Real Estate in Beijing. The houses are priced at around CNY35,000 (USD4,920) a square meter, according to public information.
Real estate is a family’s greatest expense and the success of this unit could really boost JD’s core business, industry analyst Yan Yuejin told Yicai Global. The sector is not yet fully digitized and the firm can leverage its web savvy and massive user database to better integrate property and e-commerce, he added.
JD May extend the business, currently focused on new homes, to include second-hand houses, smart homes, and other properties, it said.
The company set up a real estate business in 2017, mainly providing online support for agencies to generate traffic and earn advertising revenue.
Editor: James Boynton