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.

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Don Gasper