HDC Labs Acquires Real Estate R114 Business Divisions, Aiming to Become a Leading Proptech Company

Providing Digital Real Estate Services
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On May 1, HDC Labs announced that it has completed the acquisition of the core business divisions of Real Estate R114 and will transition into an AI service provider.

HDC Labs Building. Provided by HDC Labs

Real Estate R114 possesses a vast amount of real estate data accumulated over more than 25 years. Since its acquisition by the HDC Group in 2018, the company has not only upgraded its existing "REPS (Residential Statistics Analysis System)" but has also developed next-generation solutions such as "RCS (Commercial Statistics Analysis System)" and "SmartR (Brokerage Solution)" since 2021.

Through this acquisition, HDC Labs has secured capabilities in market price, property listing, and location data, as well as platform operation know-how. The company plans to actively introduce digital real estate services to the market by integrating these with its AI technology.

The acquired real estate data and solutions will be combined with the facility management (FM) and property management (PM) services of the HDC Labs Realty Division, expanding the scope of its offerings. The company also plans to further advance its AI-based real estate price prediction models and commercial district analysis solutions.

By leveraging the Real Estate R114 platform and its nationwide broker network, HDC Labs will significantly expand its promotional and sales channels for B2C products and services.

An HDC Labs representative stated, "This acquisition of Real Estate R114 marks a turning point for HDC Labs as it evolves into a leading digital platform company in the proptech industry," adding, "We will provide customers with innovative real estate experiences by combining our accumulated data with advanced technologies."

Following the acquisition, HDC Labs has named the newly integrated organizations "Proptech Team" and "Proptech Research Lab." The company plans to strengthen collaborations not only within the group but also with various partners in the real estate and construction sectors, and to continuously expand its proptech business area and enhance market competitiveness through synergies with HDC Group's construction, real estate development, and operations businesses.