Chinese internet company Baidu (Nasdaq: BIDU) today unveiled its online real estate information platform at the 2015 Chinese Real Estate Brokerage Industry Sales Summit in Beijing.
To construct the "Baidu Real Estate" platform, Baidu has integrated the product with the enterprise resource planning (ERP) systems of 30 large-scale real estate brokers. The first phase of rollout for the site will cover new real estate projects in 7 key cites. Moving forward, the platform will expand to include second-hand listing information and reach more than 20 cities.
Gao Lei, director of Baidu Real Estate, stated that Baidu was spurred to enter the online real estate market by the more than 200 mln real estate-related searches the company's search engine receives per month.