China and Hong Kong-based Residential Real Estate Company Midland Holdings to Digitize its Property Portfolio with Matterport
Midlands Holdings is the first real estate brokerage company in China and Hong Kong to standardize the use of Matterport digital twins, creating a new way for their customers to tour, buy, and rent properties
SINGAPORE, Monday February 14, 2022 (GLOBE NEWSWIRE) -- Matterport, Inc. (“Matterport”) (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that Midland Holdings, one of the largest residential real estate (RRE) brokerages in the Greater China region, will become the first brokerage in the region to use Matterport digital twins to create virtual 3D experiences for its entire portfolio of properties. Using Matterport, the company will provide its customers with easy-to-use, 3D versions of its network of properties through China, Hong Kong, and Macau while also realizing significant operational improvements and cost savings.
“As an industry leader, continuing to invest in the right technology to support our business is crucial to our success,” said Angela Wong, Vice Chairman of Midland Holdings. “Using Matterport digital twins will provide a better experience for our customers while also allowing us to act as a pioneer in transforming the home shopping experience in China and Hong Kong.”
Midland Holdings’ use of Matterport digital twins represents a significant milestone for the RRE industry in China, changing the way that customers have been able to traditionally view, buy, or rent homes. By using Matterport’s digital twin capture technology, Midland Holdings will be able to provide customers with on-demand, virtual access to its expansive list of for sale and rent properties in the Greater China region. Customers can now virtually tour the bedrooms, kitchen, and living spaces of any number of properties, making purchase and rental decisions from the comfort of their own home.
In 2016, Midland Holdings became the first Hong Kong-based real estate brokerage to launch a Virtual Reality (VR) panoramic property viewing service. With digital twins, Midland Holdings can also virtually furnish or stage its properties, allowing customers to more easily visualize how an empty space can be used, and, if interested, customers can also purchase the furniture they see on a property through a virtual marketplace with just a single click. The added e-commerce offering will provide customers a way to furnish their home with what they see in the virtual experience, reducing the stress that is often associated with moving into an unfurnished home.
“Matterport is pleased to partner with Midland Holdings as they adopt our digital twin technology across their portfolio,” said Ben Corser, APAC Managing Director of Matterport. “As renters, buyers and sellers come to understand the impact and value of our technology, the residential real estate industry has continued to increase their adoption of digital twins to meet customers’ needs. We look forward to collaborating with Midland Holdings to deliver digital twins for their properties and provide a more efficient, immersive experience for their customers.”
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