Qihoo 360 Technology, an Internet company “knowing nothing about real estate,” and Huayuan Real Estate Group, “a property developer “knowing nothing about the Internet,” are set to unveil the first smart community project by the end of 2015.
The cooperation plan, unveiled on Wednesday, aims to develop smart homes that are resident-friendly.
"Our initiative centers on guarding and caring for elderly and children, who spend the most time at home," Qihoo founder and CEO Zhou Hongyi remarked during the launching.
"Smart homes shouldn't be a technology show," he added, stressing that the products should be put into use by the residents.
The smart communities that the firm will be co-developing with Huayuan will offer packages specifically designed for children belonging to different age brackets.
The smart-home drive is slated to commence in Changsha, Hunan Province. The partnering firms say that they will soon expand the venture in other major cities such as Beijing and Shanghai.
According to Ren Zhiqiang, a respected entrepreneur who attended the event, the cooperation between Qihoo and Huayuan will serve as a platform by which they could better understand and deliver their customers' demand.
Qihoo earlier announced its plan to invest at least $1.6 billion to develop more smart-home products.
Currently, the U.S.-listed firm offers smart gadgets such as real-time camera, safety watches with GPS for kids, routers with data storage and appliance control capacities. Its own brand of smartphones will be available in the market next month.