SINGAPORE (Feb 4): Unlike other companies that are attempting to digitalise, developers such as CapitaLand have a stable of investment and development properties and real estate investment trusts (REITs) that own physical assets (and not intangible assets), which form the cornerstone of their net asset values. The delivery of these assets to customers who use the properties is changing over time. For instance, as Singapore moves to Smart Nation status, CapitaLand is working to deliver smart spaces.

CapitaLand’s CapitaGreen, completed in 2014, and Raffles City Singapore have smart building features such as a smart air-conditioning system. RCS has a centralised intelligent building platform system operated by CapitaLand Project Management. The IBP is expected to provide prompt rectification of issues through earlier detection of potential faults in the equipment used in the buildings (RCS comprises two hotel towers, an office tower, a retail podium and conferencing facilities). The IBP will also help with cost savings through efficient energy usage achieved by applying its diagnostic features and data analytics services carried out by CLPM. In addition, machine learning and data analytics at the CLPM level will help with “preventive maintenance”.

CapitaSpring, which will be completed in 2021, harnesses the latest technology infrastructure that is future-ready. The building will make use of the Internet of Things to personalise workplaces for comfort and well-being. It will operate on an IBP and tenants will be able to use a digital app one-stop interface that will have work, live and play features and services.

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