South Korean tech giant Naver Corp. is pushing deeper into the Middle East through a joint venture with Saudi Arabia’s National Housing Company to develop digital twin technology for real estate and smart cities.
The partnership, formalized at last week’s Cityscape 2024 event in Riyadh, gives Naver access to Saudi Arabia’s rapidly digitalizing property sector. NHC, which handles 70% of the kingdom’s real estate transactions, aims to accelerate technological adoption in housing development.
This marks Naver’s second major Middle East initiative following the planned launch of Naver Arabia. The company is betting on growing demand for digital infrastructure as Saudi Arabia pursues ambitious smart city projects under its Vision 2030 economic transformation plan.
The collaboration brings together Naver’s expertise in digital twin platforms – virtual replicas of physical assets and environments – with NHC’s dominant position in Saudi real estate. Housing Minister Majid Al-Hogail’s presence at the signing signals strong government backing for the venture.
While exact investment figures weren’t disclosed, the deal represents Naver’s most significant push yet into Saudi Arabia’s technology sector as the kingdom courts international tech partnerships.
