On Monday, South Korean proptech company Zigbang announced a partnership with Saudi Arabia's National Housing Company with the goal of digitalizing the kingdom's real estate market.
The two companies agreed to prioritize collaboration on the launch of door locks and wall pads, and to work together on securing orders for the Neom City Project.
Zigbang's relationship with the National Housing Company began at the Korea-Saudi Arabia Housing Cooperation Forum of Nov. 2022 and was strengthened by the Korean company's participation in the LEAP 2023 global tech exhibition earlier this month.
As a state-run enterprise focusing on real estate development and investment, the National Housing Company is well-positioned to support Zigbang's entry into the Middle Eastern market.
"We are dedicated to growing not only our company, but also other domestic proptech firms, in the Middle East," said Zigbang CEO Ahn Seong-woo.
Write to Hyun-Il Lee at hiuneal@hankyung.com
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