Zigbang Expands to Saudi Arabia — And will Prioritize 'Smart' City Project

Zigbang has signed an agreement with Saudi Arabia's National Housing Company in the Korean portal's first foray into the Middle East.

The National Housing Company is a state-run enterprise focusing on real estate development and investment, and will work with Zigbang to 'digitize' the kingdom's real estate market.

Zigbang plans to build a local team to launch its smart home systems and digital property management services, as well as participating in the planned development of a 'smart' city in Neom—which is 33x the size of New City.

An estimated $500 Billion will be poured into the development project in Neom, with the Saudi crown prince Mohammed entering discussions with prospective collaborators including Samsung and Hyundai late last year.

Ahn Seong-woo, CEO at ZigBang, said:

"We are dedicated to growing not only our company but also other domestic proptech companies in the Middle East."

Zigbang has been on the charge since last summer, including a ₩100 billion ($77 million USD) funding round in July ahead of an anticipated IPO, and the announcement of a rebrand as part of the portal's international expansion plans.