CapitaLand has set up a $50 million innovation fund on June 11 to support the testbedding of sustainability and other high-tech innovations in the built environment space.

The move comes as the group seeks to step up on its sustainability drive.

The fund was announced by CapitaLand’s group CEO Lee Chee Koon at the grand finale of the inaugural CapitaLand Sustainability X Challenge, where sustainability-focused companies, Inovues and Climatec Corp clinched the top prizes.

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