SK D&D signs MOU with the largest global co-living provider Habyt to strengthen residential business

• SK D&D broadens its market presence by partnering with Habyt to promote Episode residential spaces through Habyt's platform.
• Habyt expands its global footprint by bringing flexible living solutions to South Korea, marking its presence through a strategic partnership with SK D&D.
• The collaboration between the two companies will synergize their efforts in both domestic and international rental housing markets, ensuring dynamic cooperation across marketing, promotion, and cutting-edge technology.
• The initiative aims to propel Episode's brand value, establishing it as a distinguished urban living choice for global city residents.

Habyt CEO Luca Bovone and SK D&D CEO Kim Do-hyun signed an MOU to strengthen the residential business at the Waterfront Hotel in Berlin, Germany. (Source: SK D&D)

April 16, 2024 - SK D&D announced today its strategic partnership with Habyt, the world's leading co-living provider, through the signing of an MOU aimed at enhancing its residential solution business. The signing ceremony, symbolizing this significant collaboration, took place at the Waterfront, a hotel operated by Habyt in Berlin, Germany. Key figures including SK D&D's CEO Kim Do-hyun and Habyt's CEO Luca Bovone were present to mark this momentous occasion.

Headquartered in Berlin, Germany, Habyt is one of the world's top global co-living providers, operating approximately 30,000 residential spaces in more than 50 cities around the world including Los Angeles, New York, Berlin, Barcelona, Singapore, and Hong Kong, across three continents: the United States, Europe, and Asia.

The two companies decided to establish a strategic partnership and cooperate in jointly promoting and expanding the domestic and overseas corporate rental housing business through the MOU. They will utilize SK D&D's domestic top-tier residential solution business capabilities and Habyt's ever-expanding global network to actively cooperate in various areas of marketing, promotion, and ICT (information and communication technology) solutions.

SK D&D plans to expand the network of its residential solution brand 'Episode' through Habyt's online platform and ramp up its status as a mega operator in the corporate rental housing market. The company aims to collaborate with Habyt to showcase Episode's residential spaces, a short-term rental product, on Habyt's online platform and make them available on a global scale. Additionally, membership services, including discount benefits, will be extended to Episode residents who utilize Habyt's residential spaces.

Habyt, seeking to enter the Korean co-living market by joining hands with SK D&D, a Korea's industry leader, is excited to enter a deep strategic alliance with SK D&D to expand its global offering in its mission to provide access to attainable housing solutions anywhere, which also includes a potential equity investment into 'D&D Property Solutions (DDPS)', SK D&D's subsidiary specializing in property management solutions.

SK D&D CEO Kim Do-hyun said, "This MOU will be an important breakthrough in expanding Episode's network globally and further reinforcing its status as an industry leader" adding, "We will continue to try our best to provide Episode's brand value to city residents not only in Korea but around the world."

Habyt CEO Luca Bovone said, "We are thrilled to spearhead our entry into the Korean market through this strategic partnership with SK D&D, Korea's leading residential solution provider. The close alignment in our mission, vision, and commitment to provide a better housing experience for all promises an exciting expansion of the global Habyt portfolio into the vibrant city of Seoul, which continues to grow as a highly sought after destination for international students, young professionals, and digital nomads."

Meanwhile, Episode is SK D&D's residential solution brand that dreams of a 'better urban living', providing residential spaces and services for those living in the city and pursuing a variety of lifestyles. It currently operates 3,700 households in six sites in Seongsu, Seocho, Gangnam, Sinchon, and Suyu. Episode's seventh branch 'Episode Yongsan 241' is scheduled to open in May.

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SK D&D and Habyt signed an MOU to strengthen the residential business at the Waterfront Hotel in Berlin, Germany. (From the left) Habyt VP(Operations) Vincent Schenk, VP(Real Estate) Lasse Haarstark, CEO APAC Jonathan Wong, CEO and Founder Luca Bovone, SK D&D CEO Kim Do-hyun, Frontier Headquarters Operations director Lee Ju-han, Planning and Management Part manager Kim Ji-eun, Operation business advancement TF manager Lee Kyung-mi (Source: SK D&D)

SK D&D and Habyt signed an MOU to strengthen the residential business at the Waterfront Hotel in Berlin, Germany.

(From the left) Habyt VP(Operations) Vincent Schenk, VP(Real Estate) Lasse Haarstark, CEO APAC Jonathan Wong, CEO and Founder Luca Bovone, SK D&D CEO Kim Do-hyun, Frontier Headquarters Operations director Lee Ju-han, Planning and Management Part manager Kim Ji-eun, Operation business advancement TF manager Lee Kyung-mi (Source: SK D&D)

About SK D&D

Since its establishment in 2004, SK D&D has grown to become Korea's only comprehensive real estate company that has built the entire value chain from real estate development to asset management and real estate operation. The company develops, invests, and manages spaces for the happy living of various stakeholders, including offices and residential spaces. SK D&D established D&D Investment (DDI), a subsidiary specializing in asset management, and D&D Property Solutions (DDPS), a subsidiary specializing in comprehensive property management solutions, to provide stable asset management and professional space management services. In addition, the company is accelerating its transformation into a space platform provider based on IT solutions. In doing so, SK D&D will explore various opportunities in the solutions business for both commercial and residential spaces and contribute to the creation of a better user-centered urban living.

About Habyt

Habyt is the largest global flexible living company with a mission to provide access to housing anywhere, for everyone. The company was founded on the simple idea that simplicity is best when it comes to finding a house. Habyt has standardized the housing process for both tenants and landlords with a digital-first approach that provides accessible solutions. The company was founded in 2017 by Luca Bovone, and now operates globally. Today, Habyt's portfolio consists of over 30,000 units in 50 cities, supporting thousands of customers every year. Habyt is backed by investors including Korelya Capital, Deutsche Invest, P101 and ITA500-Azimut, Exor, Endeavor Catalyst, HV Capital, Norwest, Kinnevik, Picus, Burda Principal Investments, Sequoia Capital, Mitsubishi Estate, Vorwerk Ventures and Inveready.

For more information, please visit: https://www.habyt.com/