CapitaLand to smarten property offerings

CapitaLand Group, one of Asia's largest real estate companies, will step up efforts in technology innovation in China and explore setting up buildings, malls and communities that are all "intelligent", in a bid to accelerate digitalization of its property offerings.

Toward this end, the company has sealed technology collaborations with leading Chinese players.

It will launch a China-focused venture fund and roll out facial recognition technology at its offices and malls in China and Singapore.

"As a representative of real economy, we have been in China for 24 years and we will actively explore intelligent buildings, intelligent shopping centers, intelligent communities and offices. We are riding an innovation wave and aiding the development of science and technology," said Lucas Loh, CEO of CapitaLand China.

"In the future, we will further integrate our diversified business models and promote China-Singapore cooperation, to build an international smart city and create a more intelligent experience for the public," said Loh.

The company inked strategic cooperation with IE Singapore and UrWork to expand its co-working startup partnership. With Han Hai Holdings, it will create C31 Ventures China to establish innovation centers and incubate technology startups.

It signed a memorandum of understanding with Megvii Technology Inc, an internet startup focused on facial recognition technology, which will be rolled out at the company's offices and malls in China. The two partners will expand their cooperation to Singapore.

"We aim to boost the collective efforts across innovators, companies and governments to bring forth economic growth through technology. As one of the largest foreign-funded developers in China, we are poised to bring to customers new experiences in smart urban communities by integrating physical shopping, working and living with practical digital solutions," said Loh.

The cooperation is expected to boost CapitaLand's efforts to leverage technology to enhance its real estate portfolio.

The company will also offer high-quality properties, including integrated developments, shopping centers, office buildings, residential areas in Beijing, Shanghai, Chongqing and other second-tier cities, for technology enterprises to carry out technological innovation, said Loh.

It will actively explore the overall development direction of future offices, make use of its advantages in the whole industry chain to launch brand new office brands.

Headquartered and listed in Singapore, the company owns and manages high-quality real estate products and services, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts and funds.

Present across more than 170 cities in over 31 countries, CapitaLand focuses on Singapore and China as core markets, while it continues to expand in markets such as Vietnam and Indonesia.