Date
19 September 2017
Australian properties were a big draw during Taobao's online sales festival on December 12, according to mainland media. Photo: Bloomberg
Australian properties were a big draw during Taobao's online sales festival on December 12, according to mainland media. Photo: Bloomberg

Over 4,000 new homes sold via Taobao on ‘Double 12′

Over 4,000 apartment units were sold via Taobao.com, the online shopping platform of Alibaba Group Holding Ltd. (BABA.US), during the Double 12 Festival last Friday, according to the e-commerce giant.

It was the first time that some overseas developers sold their projects on the platform, the company said, adding that 70 offshore properties were transacted in just the first two hours of the festival.

The 70 overseas units, which were located across nine countries and 15 cities, are said to have attracted over 200 bids, with those in Australia drawing the most attention.

According to mainland media, the 70 overseas units were worth US$32 million in total. 

About 500 domestic projects by mainland developers, including Beijing Capital Land Ltd. (02868.HK), China Vanke Co. Ltd. (02202.HK) and Greenland Holding Group Co. Ltd., were also on offer. 

Mobile phones and tablets were the most frequently traded items during the festival, accounting for 45.8 percent of the sales on December 12, compared with 42.6 percent on Double 11, or the so-called Singles’ Day.

Taobao has successfully transformed itself into a multi-function lifestyle platform from a traditional e-commerce website through the Double 12 Festival, the portal’s president Zhang Jianfeng said.

People from 300 Chinese cities visited Taobao.com to consume lifestyle services and products with the support of 20,000 retail stores and 100 brands, Zhang said. 

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VW/JP/RC

Freelance journalist

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