YTWO Formative Signs a Memorandum of Understanding (MoU) withCountry Garden Holdings, One of the Leading Global Property Developers
Shunde, China, December 14, 2017. Today, at Country Garden’s headquarters in Shunde, China, YTWO Formative the world’s first cloud-based, integrated 5D BIM and supply chain management enterprise platform provider for the construction industries, signed a Memorandum of Understanding establishing a strategic technology partnership with Country Garden Holdings, one of the leading global property developers with an annual revenue of more than 80 billion USD.
This technology partnership will enable Country Garden and YTWO Formative to further collaborate on a transformation journey of digitalization and industrialization. Through the partnership with YTWO Formative, Country Garden will utilize the world-class cloud-based YTWO Platform that integrates 5D BIM technology with smart supply chains to manage the entire construction process from design to execution under one single system for its enterprise-wide projects. The target of the partnership is to achieve up to 30% savings and benefits for Country Garden.
With a shared vision around the benefits of digitalization, Country Garden and YTWO Formative are looking forward to further cooperation in China and abroad. The initial cooperation between Country Garden and YTWO Formative will start on pilot projects. Additionally, YTWO Formative will be Country Garden’s technology partner on their AI Town development, and this cooperation model will be gradually expanded to other Country Garden’s projects worldwide.
Jeff Lin, the Vice President and Chief Strategy Officer of Country Garden Holdings, commented, “We are delighted to build a strategic partnership with YTWO Formative as we collaborate in the building of communities for the 21st century where people can live, work, rest and play. We see huge potential from digital transformation, and with its advanced technologies, YTWO Formative’s vision is strongly aligned with ours. We are looking forward to a successful cooperation with YTWO Formative.”
Thomas Wolf, the Chairman of YTWO Formative, said, “Signing this MoU with a partner of Country Garden’s scale and strength has the potential to change the game in the real estate industry. This is an important step enabling Country Garden and YTWO Formative to deepen our cooperation as we work together to achieve our shared vision of transforming the industry with digitalization and industrialization. We are also excited to see more and more industry leaders – developers, construction material suppliers, universities and visionaries - from China and worldwide join us as we continue transforming the construction industry.
About Country Garden
As a large group enterprise listed on Hong Kong Stock Exchange’s Main Board in 2007, Country Garden ranks among “The World’s 500 Largest Public Companies” as per Forbes. Country Garden is not just a developer and operator of residential communities, but also constructs and operates green, ecological and smart cities. In 2016, Country Garden’s residential property sales exceeded USD 43 billion, covered approximately 37.47 million square meters, and ranked among top three real estate enterprises globally. Country Garden has developed more than 1000 residential, commercial and urban construction projects globally, and offers its services to more than 3 million property owners.
About YTWO Formative
Established in 2016, YTWO Formative is a joint venture of RIB, the world’s leading web-based 5D BIM enterprise solution provider, and Flex, the global supply chain management solutions provider. Combining digitalization and industrialization, YTWO Formative offers a fully integrated end-to-end cloud-based 5D BIM enterprise platform to support the building and housing industries worldwide. The digitalized and industrialized working process can generate savings and benefits of up to 30%.