Tencent Holdings Ltd (HKG:0700) and Juwai Reinvent Real Estate in China
Juwai has partnered with Tencent, China’s largest internet company, to create a new and expansive real estate marketplace for Chinese buyers and sellers.
Tencent will host the marketplace, and Juwai will handle user inquiries, and connect them to listing agents for the properties they’re interested in.
Over the past year, Juwai has expanded its reach by partnering with other real estate brokerages and companies, such as Sotheby’s International Realty and Builders Digital Experience, to further establish its place as the No. 1 resource for Chinese buyers across the globe.
On Dec. 21, Juwai and Tencent launched a new global real estate marketplace at Tencent’s annual Real Estate Summit in Beijing.
Select Juwai listings from areas spanning from North America, Europe and other parts of Asia, will now be available on Tencent’s QQ, a real estate platform that has more than 800 million users and more than 20 million daily views.
Tencent will continue to host the platform and push listings through its various services and platforms, and Juwai’s team will handle inquiries and connect buyers with listing agents.
“Juwai.com is now an important part of our real estate offering. By making Juwai.com’s international property content available to Tencent’s audience, Chinese consumers will be empowered to make informed investment decisions,” said Tencent General Manager Yu Kai in a press release.
“Over the last half decade or more, Chinese consumers have gone from being nearly invisible in international property markets to being the No. 1 buyers in almost every country and continent,” said Juwai.com CEO Charles Pittar of the $80 billion Chinese investors spent on foreign residential and commercial real estate in 2015.
“This is a great result for Chinese consumers who want to make international investments in an informed way. It’s also wonderful for our international clients who want to ensure they are accessing China in a broad and considered way.”