Co-living provider Habyt expands its presence to Korean market

Habyt expands global footprint by bringing flexible living solutions to South Korea, marking its presence through a partnership with SK D&D.

Habyt and SK D&D form a new strategic partnership | BTR News
Habyt and SK D&D form a new strategic partnership.

A new strategic partnership has been formed between Korea’s real estate leader SK D&D and co-living provider Habyt, through the signing of an MOU aimed at enhancing SK D&D’s residential solution business.

Symbolising the significant collaboration, the signing ceremony 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 the occasion.

The partnership was established so the pair can cooperate in jointly promoting and expanding the domestic and overseas corporate rental housing business through the MOU. They will utilise SK D&D’s domestic top-tier residential solution business capabilities and Habyt’s 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.

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.

SK D&D 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 utilise Habyt’s residential spaces.

“This MOU will be an important breakthrough in expanding Episode’s network globally and further reinforcing its status as an industry leader. We will continue to try our best to provide Episode’s brand value to city residents not only in Korea but around the world.”

Kim Do-hyun, CEO, SK D&D

Habyt, seeking to enter the Korean co-living market by joining hands with SK D&D, 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 specialising in property management solutions.

Headquartered in Berlin, Germany, Habyt is one of the world’s top global co-living providers. The company currently operates approximately 30,000 residential spaces in over 50 cities around the world including Los Angeles, New York, Berlin, Barcelona, Singapore and Hong Kong.

“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.”

Luca Bovone, CEO, Habyt