SINGAPORE, 14 Feb. 10, 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, the one of the largest residential real estate (RRE) agencies 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 property portfolio . By using Matterport, the company will provide customers with easy-to-use 3D versions of its network of properties across China, Hong Kong and Macau while realizing significant operational improvements and cost savings.
“As an industry leader, continuing to invest in the right technology to support our business is critical to our success,” said Angela Wong, vice president of Midland Holdings. “Using Matterport’s digital twins will provide a better experience for our customers while enabling us to pioneer the transformation of 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 customers have traditionally been able to view, buy or rent homes. Using Matterport’s digital twin capture technology, Midland Holdings will be able to provide clients with on-demand virtual access to its extensive list of properties for sale and rent in the Greater China region. Customers can now virtually tour the bedrooms, kitchen and living areas 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, making it easier for customers to visualize how an empty space can be used, and, if interested, customers can also purchase the furniture that they view a property via a virtual market with just a simple click. The added e-commerce offering will give customers a way to furnish their home with what they see in the virtual experience, reducing the stress often associated with moving to an unfurnished home.
“Matterport is thrilled to partner with Midland Holdings as they adopt our digital twin technology into their portfolio,” said Ben Corser, Managing Director APAC of Matterport. “As tenants, buyers and sellers understand the impact and value of our technology, the residential real estate industry has continued to increase its adoption of digital twins to meet customer needs. We look forward to working with Midland Holdings to provide digital twins to their properties and provide a more effective immersive experience for their customers.
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our revolutionary spatial data platform turns buildings into data to make almost every space more valuable and accessible. Millions of buildings in over 194 countries have been transformed into immersive Matterport digital twins to enhance every part of the building lifecycle, from planning, construction and operation to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins. For the company logo and more images, see our media kit.
About Midland Holdings
Deeply rooted in Hong Kong for nearly half a century, Midland Realty was established in 1973 as a small boutique that grew alongside Hong Kong’s economy. In 1995, Midland Holdings Limited (stock code: 1200) became the first listed real estate agency group in Hong Kong. The Group now has more than 600 agencies and nearly 8,000 employees, providing not only real estate agency services, but also financial services, real estate expertise and advice on immigration. With strong roots in Hong Kong, the Group is connected to the whole world. Our footprints stretch from Hong Kong, Macau and mainland China, to cities in Australia, Canada, the United States and Europe.
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Soohwan Kim, CFA
Vice President, Investor Relations
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