HDC LABS announced on May 1 that it will officially transition into a customer-centric AI service provider after completing the acquisition of the core institutional sector of Real Estate R114 on April 30. This decision is a strategic judgment aimed at expanding new businesses and strengthening digital transformation (DX) competitiveness at the group level.
Real Estate R114 holds real estate data accumulated over more than 25 years. Since being acquired by HDC Group in 2018, it has focused on developing next-generation solutions such as the 'Commercial Statistical Analysis System (RCS)' and 'Smart R (brokerage solution)' in addition to upgrading the existing 'Residential Statistical Analysis System (REPS)' since 2021. Through this acquisition, HDC LABS has secured proven capabilities in market prices, inventory, and location data, along with platform operation know-how in the real estate market, and plans to offer a higher level of digital real estate services by combining these with its advanced AI technology.
A representative of HDC LABS noted, "This acquisition of Real Estate R114 is a turning point for HDC LABS to leap as a leading digital platform corporation in the proptech industry" and added, "We will provide innovative real estate experiences to customers through the combination of accumulated data and advanced technology."
Meanwhile, HDC LABS plans to officially name the newly joined organization as 'Proptech Team' and 'Proptech Research Lab' through this acquisition and strengthen cooperation not only within the group but also with various real estate and construction sectors. Additionally, it aims to expand the scope of its proptech business and enhance market competitiveness through close synergy with construction, real estate development, and operational businesses within HDC Group.