China’s leading e-commerce company, Alibaba, is adding a new item to its annual shopping bonanza this year: real estate.
The company said that over 10,000 properties will be listed on its auction site for the upcoming “Double Eleven” shopping festival on Nov. 11, The Beijing News reported Tuesday. Some of the houses being auctioned are near subway stops, scenic spots, and top public schools — any one of which makes for a prime location.
Now in its 11th year, Double Eleven is China’s biggest online shopping day. Last year, Alibaba-owned shopping platform Tmall raked in a record 213.5 billion yuan ($30.8 billion) in purchases in 24 hours. While Tmall mostly sells everyday goods such as clothing, the auction platform offers houses, cars, and even swaths of ocean. Many of the auctioned items are confiscated from criminals and sold on behalf of the government. (Image: VCG)