HDC Labs has completed the acquisition of the core business division of Real Estate R114.
This is a formalization of the company's transformation into a "customer-centric AI service provider," and is explained as a strategic decision to expand new businesses and strengthen group-level digital transformation (DX) competitiveness, rather than a simple reorganization.
Real Estate R114 is a leading information service company with extensive real estate data accumulated over 25 years. Since its acquisition by HDC Group in 2018, the company has focused on developing next-generation platforms, including the advancement of its Residential Statistical Analysis System (REPS), as well as the Commercial Statistical Analysis System (RCS) and its brokerage solution, Smart R, which will be launched in 2021. The company has also made active investments to strengthen its technological capabilities and secure talent.
Through this business acquisition, HDC Labs will secure real estate market price, listing, location data, and platform operation capabilities, and plans to fully launch differentiated digital real estate services combined with its AI technology.
In particular, by linking the acquired data and solutions with HDC Labs Realty's facility management (FM) and property management (PM) services, the company plans to expand its customer base and broaden its service offerings. Furthermore, by enhancing its AI-based price prediction model and commercial district analysis solution, the company expects to deliver new value to the market.
Leveraging Real Estate R114's platform and nationwide network, HDC Labs' B2C product and service sales channels will also be significantly expanded. By maximizing synergies with existing businesses, the company plans to accelerate the acquisition of new customers.
An HDC Labs official stated, “This acquisition of the real estate R114 business division is a significant turning point for HDC Labs as it transitions into a digital platform company,” adding, “We will provide customers with a new real estate experience by combining data and cutting-edge technology.”
Meanwhile, HDC Labs has reorganized the newly recruited team into a "PropTech Team" and a "PropTech Research Lab." Going forward, the company plans to strengthen collaborations not only with affiliates but also with diverse real estate and construction sectors, and continue to expand its proptech business through synergies with HDC Group's construction, development, and operations businesses.
Global real estate brand REMAX is partnering with Real Estate 114, Korea's leading real estate information platform, to provide franchisees with the opportunity to list and promote their properties at discounted rates.
REMAX franchisees can advertise their properties to more customers by leveraging Real Estate 114's nationwide platform in addition to their own network.
Going forward, REMAX will continue to develop various cooperative measures with Real Estate 114 to help franchisees promote their properties and grow their businesses.
Remax x Real Estate R114
Contact: Remax Korea, Deputy Manager Lee Mi-young 010-3212-5886 mylee@remax.co.kr
