E8, Enters Real Estate Big Data Platform Business

E8 announced on the 7th that it has opened an office in Jeju Island and will officially commence the establishment of a real estate big data platform and spatial information business. The newly established Jeju office is planned to serve as a central hub for the spatial information business while also functioning as a data center and training facility.

The big data platform project aims to create a digital environment where high-quality data is produced and supplied, enabling citizens and businesses to actively utilize data. The real estate big data platform project carried out by E8 is led by the Korea Real Estate Board and jointly participated in by Korea Land and Housing Corporation, Korea PropTech Forum, Zigbang, Spacewalk, Urbanbase, and others. The core of this project is to activate the real estate data economy by producing various real estate-related data, including real estate transactions and development, income-generating real estate data, multi-family housing new construction design information, and residential area noise map services.

E8 will execute this project by combining image-based 3D mapping technology from its partner PIX4D. Through the digital spatial information created by E8, detailed information such as major auction sites, slopes, contour lines, and 360-degree panoramas can be checked without physically visiting the sites. These data products can be purchased free or paid on the real estate big data platform by anyone.

3D modeling spatial information is an essential technology in the era of digital transformation and can be applied to smart factories, building twins, road traffic twins, and more, with related market demand gradually increasing. A representative from E8 stated, “The core of building a digital twin-based real estate big data platform is producing 3D-based spatial information, an area where our company holds unique technological competitiveness. This real estate big data platform project is a data monetization business where data produced by digital twins itself becomes a marketable product, making it one of our important revenue models.” He added, “We plan to continue expanding the spatial information business based in the Jeju office.”