Alibaba Australia may enter residential apartment market

Alibaba Australia may enter residential apartment market
Alibaba Australia may enter residential apartment market

Chinese e-commerce platform Alibaba could soon include Australian apartments and allow the payment of deposits or settlements through payment gateway Alipay.

Following the launch of Alibaba's first Australian office in Melbourne last week

John O'Loghlen, Alibaba Australia New Zealand business development director, confirmed to the Australian Financial Review the listings move has been 'discussed internally'.

"This space is [currently] well serviced by the market and the Monika Tus of the world and they do a good job. Our focus is on small businesses but we've discussed it [selling real estate]," he said

"It is possible, as it is an area that is changing so fast.

"Alipay is the dominant platform for these transactions, but it is important that the Australian and Chinese tax bureaucracies are transparent. We are incredibly aware of the flows of money that it will attract.

"We have been on the front foot ... engaging in this conversation."

Mr O'Loghlen said any plans for apartment sales or online transactions would not be immediate for Alibaba.

Tags: 
Residential Sales Alibaba

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