NAVER Cloud announced the formal establishment of a strategic joint venture with Saudi Arabia’s National Housing Co. (NHC) on May 28. The new entity, named NAVER Innovation, aims to accelerate digital transformation in Saudi Arabia’s public and residential sectors by deploying advanced smart city solutions, enhancing the quality of life for citizens.
This joint venture represents NAVER’s first business under its regional headquarters, NAVER Arabia, and is co-funded by NAVER Cloud and NHC Innovation, NHC’s digital subsidiary. NAVER Innovation will focus on creating and managing a map-based super app designed to assist Saudi residents and travelers with daily activities such as housing, transportation, and more. Additionally, the venture plans to expand digital twin platform-based services for urban planning and smart city development.
NAVER’s digital twin platform, already slated for deployment in major Saudi cities, offers capabilities including flood prediction, traffic analysis, and population distribution mapping. The joint venture aims to position Saudi Arabia as a global leader in digital twin technology, building sustainable, data-driven smart cities aligned with Vision 2030.
The collaboration offers NAVER Cloud an avenue to expand in the Middle East by leveraging its advanced technological expertise, while NHC Innovation strengthens its role in smart city innovation. NAVER Cloud will localize Korea-proven reservation, payment, and personalization technologies tailored to Saudi infrastructure and culture.
Ryan AlAql, CEO of NHC Innovation, emphasized the venture as a sign of Saudi Arabia’s commitment to adopting world-class technology with localized solutions, stating the goal to create smart cities that promote sustainability, innovation, and quality of life improvements.
Kim Yoo-won, CEO of NAVER Cloud, expressed enthusiasm for partnering in Saudi Arabia’s digital transformation journey and pledged active collaboration to lead smart city innovation.
The joint venture follows an MOU signed at Cityscape 2024 and builds on NAVER’s ongoing digital twin platform projects for Saudi municipalities, including a contract won in October 2023 to construct platforms for major cities.
