The rapid adoption of Proptech in Asia Pacific is reshaping the region’s real estate markets, changing the way people work, shop, and travel.
Companies and cities in the region are leading the charge, applying technologies such as artificial intelligence and data analytics to improve experiences.
Singapore-based mall operator Capitaland has a chatbot called Sparkle on its app that responds to shoppers’ queries and make reservations or hail a ride from its malls. Taipei and India’s Andhra Pradesh are using blockchain to upgrade their digital offerings and protect their residents’ from land fraud, respectively. National Australia Bank is participating in a A$9 million investment round for real estate crowdfunding platform Brick X.
“Many of the exciting innovations being developed in the proptech sector, such as smart home controls or drones for property management, have the potential to improve user experience, and save time, money and energy,” says George Thomas, Chief Information Officer of JLL Asia Pacific CIO.
The rise of proptech, however, could be a cause for cybersecurity concerns, as highlighted in JLL’s report Clicks and Mortar: The Growing Influence of Proptech. “We have to consider the implications of data security and privacy as the sector evolves,” Thomas says.
Take a look at the infographic below to find out more on the new innovations and initiatives that will continue to drive proptech in Asia Pacific.