Countries across Asia Pacific are gearing up for the smart cities revolution.
In pole position are gateway commercial cities such as Singapore with technology war chest of US$2.4 billion for Smart Nation-related projects in 2017. Meanwhile Chinese tech giant, Alibaba, announced its strategy of transforming Macau from Casino City to a leading Smart City through cloud computing.
For smart cities to succeed they’ll need to integrate new connective technologies in both existing cities and master-planned communities. And many of those new technologies are being applied in real estate – a development also known as proptech.
“The adoption of proptech in homes and offices will improve living standards, enhance productivity and create more dynamic urban areas across the region,” says Jeremy Sheldon, Managing Director of Markets, JLL Asia Pacific. “As companies and talent are attracted to smart cities offering the best quality of life, not to mention the most robust and intelligent proptech infrastructure, smart metropolitan areas can expect to see greater economic growth.”
There are other significant benefits such as sustainability. For instance, smart buildings with innovative energy management can reduce carbon emissions and make the city’s grid more efficient, resulting in financial savings in the long run.
Take a look at the infographic below to see how proptech will create smarter cities.