Saudi Real Estate Sector Enters New Era with Advanced Technologies
In a groundbreaking move, the Saudi real estate sector is gearing up to revolutionize with cutting-edge technologies as the National Housing Co. joins forces with Korean tech giant Naver Corp. to elevate smart city solutions.
The collaboration, endorsed by Housing Minister Majid Al-Hogail, is set to introduce Digital Twin technology, leveraging Naver’s state-of-the-art cloud system. This innovative technology creates virtual replicas of real-world entities, enabling real-time decision-making through data analysis, prediction, and optimization in a cloud-based environment with a focus on three-dimensional digital modeling.
Aligned with Saudi Arabia’s Vision 2030 objectives, the integration of Digital Twin technology will play a crucial role in urban planning, flood predictions, and the advancement of smart city development.
This strategic partnership signifies a significant step towards modernizing the Kingdom’s real estate sector and adopting advanced solutions to enhance urban management and infrastructure efficiency, as emphasized by Minister Al-Hogail.
“This collaboration paves the way for innovative digital solutions, driving us closer to our goal of sustainable smart cities in the municipalities and housing sectors,” stated Minister Al-Hogail.
Building on its entry into the Middle East and Saudi markets in 2023, Naver’s contract with the ministries of investment and housing laid the foundation for this ambitious roadmap, which includes the integration of AI, robotics, and cloud solutions.
Naver’s open-ended platform architecture promotes collaborations with local Saudi and South Korean entities, as highlighted by the company. A visit by Abdullah Al-Ghamdi, president of the Saudi Data and Artificial Intelligence Authority, underscored the strong relationship between the firm and the Kingdom.
Discussions during the visit focused on potential collaborations between the two entities, with SDAIA leading strategy, research, and development in the AI, data, and smart city sectors in Saudi Arabia.
Notable Saudi institutions, including the Ministry of Communications and Information Technology, the National Information Center, and the National Data Management Office, have also explored collaborative opportunities with Naver, showcasing the growing interest in the company’s technological advancements.
Naver’s participation in the “One Team Korea” consortium in November 2022 further solidified its presence in Saudi projects under the auspices of South Korea’s Ministry of Land, Infrastructure, and Transport.