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 catalog 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, commented: “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 the 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, explained: “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.”
MyHome Group is a comprehensive group corporation principally engaged in 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 its land reservation is nearly 10 million m2. MyHome Group won the “China Top 100 Real Estate Stars”, and was reelected the “2016 Central China Real Estate Company Brand Value Top 10″, and now it is nationally renowned. The construction segment of the group, MyHome Construction, with the mission of making more people quickly live into the functional, stylish, and affordable houses, and the business orientation of intelligent construction general contractor, it commits to becoming the domestic leading enterprise in modular construction.
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%.
RIB Software SE is an innovator in construction business. The company creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. Its flagship product iTWO 4.0 is the world’s first 5D BIM enterprise cloud solution for construction companies, industrial companies, developers and project owners, etc. 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 more than 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.