YTWO Formative Signs a Memorandum of Understanding (MoU) with Country Garden Holdings, One of the Leading Global Property Developers

14.12.2017 - Corporate News

Shunde, China, December 14, 2017. Today, at Country Gardens headquarters in Shunde, China, YTWO Formative the worlds 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 Gardens technology partner on their AI Town development, and this cooperation model will be gradually expanded to other Country Gardens 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 Formatives 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 Gardens 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 Exchanges Main Board in 2007, Country Garden ranks among The Worlds 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 Gardens 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 worlds 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%.

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the worlds first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With almost 900 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.