Local Property News | Posted by Aye Myat Thu
The real estate unit of mainland e-commerce giant JD.com says it is teaming up with more than 200 Chinese property developers to offer homes at half their market value for the Singles’ Day online shopping festival coming up next month.
The Beijing-based online retail platform revealed the discounted home sales program at its at its inaugural technology and real estate summit in Shanghai this past week saying that the promotion which centres on 11 November, a day known as Singles’ Day for its set of consecutive 1 numerals, would include homes in 70 mainland cities.
The announcement of the real estate program, which JD.com says will provide 50 percent discounts on 6,000 homes worth more than RMB 300 million ($42.37 million), came at an event where the e-commerce giant founded by Richard Liu Qiangdong unveiled plans to open a chain of offline stores to help developers promote properties listed on the company’s website.
JD’s leadership did not reveal details of specific homes being made available on China’s Singles’ Day, which now outranks Black Friday in the US as the biggest shopping orgy in the world, according to some highly elastic statistics promoted by JD’s rivals at Alibaba who originated the event.
The Beijing-based company’s representatives went into more detail regarding their plans for the chain of brick-and-mortar stores, called Haofang Jingxuan, which are being set up to allow prospective homebuyers to view available homes and development projects through virtual reality or augmented reality systems.
“Haofang Jingxuan allows property purchases to become part of shopping activity and will enable users to instantly gain a sense of unit layouts, project surrounding and amenities,” Fu Huadong, general manager of Haofang Jingxuan said at the event.
Ref: Property Report
