YTWO Formative Signs Second Deal Globally, and First Deal in China with MyHome Group
Wuhan-based property developer plans to manage and support a project volume of US$ 29bn through 100 pre-fab factories over the next five years
Wuhan, China, June 20, 2017. YTWO Formative, the world’s first cloud-based, combined 5D BIM and supply chain management enterprise platform provider for the building and housing industries, today announced the conclusion of a milestone deal with MyHome Group, a leading China-based developer engaged in the development of real estate projects and city construction. MyHome represents YTWO Formative’s second global signing after the announcement of its signing with German-based CG Group on March 22nd, 2017. YTWO Formative has now reached two out of six signings that it is targeting in its first year since its foundation. Together the two deals with Myhome and CG Group mean that YTWO is now engaging with two property developers that together plan to deliver or manage projects with total project volume in excess of US$ 33 billion over the next years.
With a strong focus on high quality and sustainability in real estate construction, Wuhan-based MyHome Group has decided to cooperate with YTWO Formative to transform and upgrade their entire enterprise through digitalization and industrialization. For the next 5-year plan, with total investment of around US$ 3.7 billion to US$ 4.4 billion, MyHome is planning to build 100 factories over 20 capital cities and also plans to set up 200 German automatic production lines to support the modular construction projects with total value over US$ 29.4 billion. To successfully execute its growth plans, MyHome has decided to use YTWO technology, offering an end-to-end cloud-based 5D BIM enterprise platform with an integrated product catalogue and supply chain that takes projects from concept to completion.
YTWO Formative effectively lets MyHome Group connect and manage all stakeholders, projects and pre-fab factories in one single source of truth. The signing with YTWO makes MyHome Group the first company in China that connects up to 600 stakeholders, such as contractors and sub-contractors, in a collaborative 5D BIM enterprise platform. MyHome’s target is to create up to 30% benefits in the project management process, enabled by YTWO technology.
Thomas Wolf, Chairman of YTWO Formative, comments: “China is the largest real estate market in the world and one of the core regions, next to the US and Germany, that we are currently offering strategic partnerships to selected pilot clients. We are proud to have MyHome Group as our first Chinese visionary on the transformation journey of digitalization and industrialization. We will continuously accompany our partners on their transformation journeys, and do our best to support and accelerate the global building and housing industries’ advancement.”
Daoming Liu, Chairman of MyHome Group, explains: “We are very happy to have this partnership with YTWO Formative. YTWO Formative shares the same vision with us and we see the great potential for the transformation through digitalization and industrialization. With our rapid business growth, our group is currently at the beginning of a strategic transformation. In the next 5 years, we will establish a large number of modular construction factories across China, I believe this cooperation represents a further step towards making this transformation happen. We are looking forward to connecting all our project stakeholders in one platform and to the successful cooperation with the leading provider of the solution that allows us to do so: YTWO Formative.”
About MyHome Group
MyHome Group is a comprehensive group corporation principally engaged in the real estate development, construction, and property management services. Its subsidiary, MyHome Real Estate was listed in the Shenzhen Stock Exchange in 1996. The Group’s business covers Wuhan, Beijing, Shenzhen, Chongqing, Shenyang and other large-medium cities across the nation. The company's total assets are more than US$ 2.9 billion, and land reservation is nearly 10 million m2. MyHome Group won the “China Top 100 Real Estate Stars”, and reelected the “2016 Central China Real Estate Company Brand Value Top 10", now it is nationally renowned. The construction segment of the group - MyHome Construction, with the mission of making more people quickly live in useful, good-looking, and affordable houses, and the business orientation of intelligent construction general contractor, it committed to becoming the domestic leading enterprise in modular construction.
About YTWO Formative
Established in 2016, YTWO Formative is a joint venture of RIB, the world’s leading cloud-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%.