Tencent, Juwai join forces for stronger real estate site

11 Jan 2017

Tencent, China’s largest internet company by market capitalization, and Juwai.com partnered to strengthen the global offering of Haiwai.house.qq.com for Chinese users.

In terms of the agreement, a selection of Juwai.com listings in countries outside China will be duplicated on Haiwai and Juwai will offer user support, answer user enquiries, and connect users to the properties they are interested in.

“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 are empowered to make informed investment decisions,” said Yu Kai, general manager of Tencent Real Estate, in a news release.

China-based Juwai.com has Australian owners, and prepares to list on the Australian Securities Exchange (ASE). The cooperation with Tencent was announced last week.

The Tencent/Juwai partnership will compete head-on with Sodichan.com, another Chinese real estate site with a global focus and Australian links. It was launched recently by ACProperty, a Chinese company, and ListGlobally, a Swiss company operating ListGlobally.com.

ACProperty operates real estate site ACProperty.com.au from Melbourne for Chinese searching real estate in Australia. ListGlobally.com has links to Simon Barker, founder of RealEstate.com.au.

Tapping the 800 million users of Tencent’s internet platforms QQ and WeChat, Tencent’s real estate platform Haiwai.house.qq already receives 20 million pageviews per day (web presence and app combined). 

Tencent (SEHK: 700), in which Naspers has a 34-percent stake, hosts the real estate site on different channels, including (soon) the popular messenger service WeChat. 

Tencent has been broadening its service base to better compete with archrival Alibaba. In 2014, it paid $180 million U.S. for a 15-percent stake in Leju Holdings, operator of one of the two leading real estate sites in China.

The two companies teamed up with U.S. real estate site Zillow to create new real estate websites in the country. More recently, Tencent joined forces with classified marketplace 58.com to establish a unified platform for real estate listings.


Don Gasper

Don Gasper joined the AIM team as a writer and analyst in 2005. Based in Hong Kong, he covers media-industry trends in the Greater China area. He specializes in business and legal developments concerning Chinese companies and has worked for several years as a reporter and editor for a number of daily newspapers in Hong Kong. He later moved on to work as a contributor and editor for various monthly publications and Web sites and has also lectured on journalism and communications at different universities. Don is particularly interested in the development of the Internet and how this is revolutionizing possibilities for business and social communication in China. He took part in the International Federation of Journalists mission to China in 2008 to investigate and advise on media arrangements for the Beijing Olympics. He graduated in Oriental Languages at Cambridge University and went on to study Political Science and Political Economy.