Image1

Johnson Controls Shows How Artificial Intelligence IoT Cloud Computing Rapidly Transforming the Future of Smart Buildings

/in , /by
Reading Time: 3 minutes

 

Image1

The pressure to meet global climate targets has never been greater and with buildings accounting for 40% of global greenhouse gas emissions, there is an urgent need to advance sustainable building technology to help enterprises meet net zero goals while accommodating for continued growth. “The Smart Building of the Future,” a new paper from Johnson Controls (NYSE: JCI) outlines how smart buildings equipped with advanced technologies like artificial intelligence, IoT, cloud and cybersecurity will help enterprises create a future where our buildings integrate with human and environmental ecosystems. Smart buildings offer a harmonized environment that prioritizes both well-being and sustainability, using technology to adapt and unlock potential, support productivity and drive peak performance of building occupants.

“Never has it been more important for organizations to consider advanced and efficient ways to reduce their carbon footprint – especially in the buildings industry, which is the single largest source of our planet’s greenhouse gas emissions,” said Johnson Controls Chief Technology Officer Vijay Sankaran. “The smart building of the future offers new and more effective ways to help companies meet critical climate goals, reduce costs, enhance daily operations to achieve business growth and improve personalized experiences. When a building ‘comes alive’ with smart technology, all stakeholders benefit from the integrated approach that ultimately creates a healthier, safer and more productive environment.”

Several factors are converging to accelerate the development and adoption of advanced building systems technology. As building owners work to respond to challenges such as rising energy costs and changes in occupancy patterns, among others, sophisticated IoT devices and the implementation of data analytics and AI have become more important than ever.

The report also offers building managers key insights into the major technology enablers of advanced smart buildings, including:

  • Ubiquitous connectivity through cloud-based services on the edge breaks down barriers between siloed and integrated devices, enabling the flow of real-time information that business leaders can analyze for insights and continuous improvement.
  • AI-enabled autonomous smart buildings will be at the core of the next generation of smart buildings, driving efficiencies, enhancing the user experience and enabling advancements in sustainability. AI at the edge reduces privacy, compliance and cyber concerns by allowing data to be securely processed and stored within the building operator’s network.
  • Digital twins enable a continuous feedback loop between the physical and the virtual by facilitating the integration of AI, IoT and cloud technologies to generate strategic recommendations for improving building performance and user experience.

As many of the technical foundations required to turn buildings into smart buildings already exist, organizations should take additional action to prepare for and improve their future building operations. This includes developing a strategy that includes user experience, partnering with IT and cybersecurity teams, establishing partnerships with external consultants, investing in education and training, and running pilot projects.

This report builds on recently announced survey results from Johnson Controls and Forrester Consulting that show widespread acceptance of sustainability as a business priority and a firm recognition that partners are essential to realizing 2030 sustainability commitments. The survey found building operators believe smart buildings are important in helping organizations accelerate sustainability initiatives and that adding or upgrading building automation and digital technologies to optimize energy use are among the most impactful sustainability investment areas. The survey also found that most leaders seek partners, like Johnson Controls, who can provide a digital platform across sites and use cases, which Johnson Controls provides.

As a one-stop-shop for creating smart buildings, Johnson Controls has developed a three-step process to transform buildings into strategic assets – design, digitalize, deploy. The journey starts when we design and roadmap solutions that achieve efficiency, sustainability, decarbonization, resiliency and energy transition in accordance with our customer’s goals. Next, we digitalize to make buildings smarter through solutions like our OpenBlue Enterprise Manager – Net Zero Advisor, connecting infrastructure, distributed generation and the grid so we can access data that is critical to making informed decisions to solve for cost and carbon. We then deploy our solutions through a one-source, turnkey delivery model that leverages best-in-class efficiency, electrification and renewables solutions. Operations, service and maintenance underpin our “as-a-service” offerings to maintain peak operating conditions, protect customer’s investment and achieve the lowest lifecycle costs.

The cornerstone of this smart building strategy is Johnson Controls OpenBlue, an industry-leading ecosystem of connected technologies, digital solutions and services. OpenBlue reads the live activity of a building and continuously adapts to optimize performance. Combining data from across the building’s systems and using advanced digital tools like AI, we can provide insights that save more energy and emissions than possible with isolated systems. OpenBlue is recognized in the building industry as a `powerful enabler of measurable outcomes and earlier this week, Johnson Controls was named a leader in energy management software by Verdantix in its Green Quadrant: Energy Management Software report.

To learn more about how Johnson Controls OpenBlue is transforming smart buildings, please visit: http://www.johnsoncontrols.com/OpenBlue.

Image2

Coliwoo Strengthens Community Living with Latest Coliwoo Hotel Pasir Panjang Property

/in /by
Reading Time: 4 minutes

Coliwoo Strengthens Community Living with Latest Coliwoo Hotel Pasir Panjang Property

• Coliwoo introduces its 15th co-living property launch to date – the four-storey Coliwoo Hotel Pasir Panjang falls  under the brand’s co-living Hotel portfolio

• Strategic location with schools, business parks, as well as recreational amenities nearby makes it the perfect  sweet spot for “bleisure” stays – combining the best of business and leisure

• Expansion of co-living hotel portfolio caters to sustained strong demand for rental accommodation as more turn  towards co-living hotel spaces for longer-term stays

Image2

Exterior of Coliwoo Hotel Pasir Panjang, featuring an imaginative mural that injects vibrancy within the  neighbourhood of the Pasir Panjang district

Coliwoo, a co-living subsidiary brand under real estate management services group,  LHN Limited (“LHN”, together with its subsidiaries, the “Group”), has recently unveiled its latest property – Coliwoo  Hotel Pasir Panjang – the newest addition to the brand’s portfolio that now sees 15 properties launched islandwide.

Strategically located at 404 Pasir Panjang Road, the co-living hotel opens plentiful possibilities for a close-knit  community – among students, researchers and lecturers from National University of Singapore, Curtin University and  S P Jain. Also catering to other working professionals, the property is just a short drive from Mapletree Business City,  Science Park and even the Central Business District, all accessible along the stretch from Ayer Rajah Expressway,  West Coast Highway to Keppel Viaduct.

With several recreational spots including parks such as West Coast Park, Hort Park and Southern Ridges, attractions  like Sentosa and Universal Studios Singapore, as well as malls like VivoCity, Star Vista and Clementi Mall, all just  a short commute away, Coliwoo Hotel Pasir Panjang makes for the ideal sweet spot for members looking for an  all-encompassing stay.

Beyond catering solely to individuals and families seeking for convenient flexible-term accommodation, these  well-rounded offerings provide working professionals, especially foreigners, the perfect launchpad for a ‘bleisure’ stay  – a recent trend in temporary stays that seamlessly blends elements of both business and leisure.

“With the resounding success of Coliwoo Hotel Gay World, we are excited to expand our co-living portfolio within the  city fringe with our latest addition to Coliwoo Hotels. Noting the demand among students and working professionals for  long-term yet flexible stays, Coliwoo Hotel Pasir Panjang boasts convenience and accessibility, without compromising  on quality especially through its prime location in the heart of Pasir Panjang,” said Ms. Chong Ching Yeng,  Chief Commercial Officer of Coliwoo.

Nautical Design that Reflects Coastal Ties of Pasir Panjang

Image4 Image3 Image1

Interior of the Premier Studio room type at Coliwoo Hotel Pasir Panjang,

showcasing a mid-upscale modern yet homely ambience

All rooms at Coliwoo Hotel Pasir Panjang are decked in light grey hues paired with bright marine blue – reminiscent  of Pasir Panjang’s coastal ties – calling to mind feelings of calmness and relaxation. The soft, ambient lighting within  the rooms also serves as a welcoming embrace that members can look forward after a long day’s work or school,  seeking respite in the unparalleled comfort that awaits them.

Arches and curves are also introduced at various parts of the rooms and common area, to soften the hard lines of the  interior, along with tints of gold shades and trimmings on the wall, incorporating a touch of brightness to the space.

Enhancing Member Experiences

Adding to its suite of key amenities, each Coliwoo Hotel Pasir Panjang room is a self-contained studio unit that comes  alongside support services, including a self-service mobile app, an onsite concierge and housekeeping. Coliwoo  recently upgraded its mobile app, allowing members to seamlessly book communal spaces, redeem exclusive deals,  sign up for events and more. Members need to only pay for an all-inclusive fee, testament to Coliwoo’s commitment  for exceptionally hassle-free stays, no matter long or short-term.

While each unit is self-contained, Coliwoo continues to pride itself on the communal offerings it provides, recently even  more so through various brand partnerships to create activities such as weekend bicycle rides and urban farming, to  promote a physically and mentally healthy living experience to its members.

Solidifying Coliwoo’s Presence in the Co-Living Market

Scheduled for opening in 2024 with locations at River Valley Road, Rangoon Road, Balestier Road, Lavender Street  and Arab Street, Coliwoo continues to expand its footprint through its commitment to providing members with a diverse  selection of properties. The expansion strategy, through master leases etc., gears towards introducing even more  choices at various locations and price points to cater to all needs – in quick succession.

Ms. Chong added, “We are primed to strengthen our influence in this competitive sector, as we continue to stay true  to our dedication in fostering a dynamic community among our members. Through our value-added offerings, Coliwoo  turns spaces into homes and communities, elevating our status as a sought-after lifestyle destination that transcends  conventional housing norms.”

For more information on Coliwoo Hotel Pasir Panjang, please visit here.

Image4

Cementing a Safer Construction Sector in Singapore

/in /by
Reading Time: 4 minutes

Vitaly Berezka, Head of Sales, Central Asia, MENA and APAC, PlanRadar shares how Singapore’s construction industry adopts surveillance tech amid safety concerns, emphasising holistic approaches for improvement.

 

Image4

 

An escalating emphasis on the safety of construction workers in Singapore has prompted the Singapore Ministry of Manpower (MOM) to launch a new series of measures to reduce workplace deaths and injuries, especially in high-risk sectors. According to the MOM, the rate of major injuries in construction has increased in the first half of 2023 despite a nine-month heightened safety period imposed in September 2022.

 

As part of the suite of measures coming into effect in June 2024, companies will have to deploy video surveillance systems at construction sites for projects valued at $5 million or more. The video surveillance systems will facilitate 24-7 surveillance, identification of workplace safety and health (WSH) risks, support incident investigations and corrective actions, and help deter unsafe behaviours.

 

With the industry experiencing record-high growth across multiple sectors, and more requirements being announced in the foreseeable future, these regulations underscore the overall need for a more holistic and conscientious approach to a safer construction environment for the longterm, and with time running out, companies must act fast.

Holistic solutions to safer environments

To ensure a smooth transition, companies need to have a clear and holistic view of each site based on a detailed mapping of construction processes and operations with lessons from past projects. Companies need to switch gears to mitigate risk and prevent unwanted injuries or fatalities before accidents occur.

 

From the get-go, firms need to identify potential safety hazards and challenges that workers may encounter, and they need to have a comprehensive plan for the logistics of equipment, vehicles or materials and the overall operations of the site.  To do so is no mean feat, but it is crucial to every company’s reputation for accident-free, on-time and on-budget delivery.

 

Image1

 

Leveraging technology for construction safety

Building Information Modeling (BIM) can play a crucial role in identifying and reducing risk in construction safety by providing a comprehensive and visual representation of the entire construction project. When used for safety analysis and risk assessment, data on safety regulations, guidelines, and best practices can be integrated for compliance. This also helps in identifying high-risk areas and ensuring that safety measures are integrated into the design and construction phases, including where and how to install video surveillance systems.

 

Being able to visualise the entire construction process in a digital environment before actual construction begins helps to identify high-risk areas that might not be immediately apparent in traditional 2D plans. An example would be clash detection, which helps to identify conflicts or collisions between different building elements such as structural elements, and mechanical, electrical and plumbing (MEP) systems, among other components. Resolving clashes in the virtual model helps prevent physical clashes on the construction site that could pose safety risks.

 

Investing in BIM technology could also achieve greater accuracy, empowering site management with valuable simulations in planning site logistics and construction sequencing. By simulating the construction process, including the movement of equipment and materials, potential bottlenecks and safety concerns can be identified and addressed in advance. The creation of virtual mock-ups and simulations, where different construction scenarios can be tested for safety ensures that the right measures are integrated into the construction process.

 

Post-construction, BIM could also provide a detailed digital model for facility management and maintenance. This includes information on the maintenance requirements of different components, ensuring that safety considerations are maintained throughout the lifecycle of the building. As new technology makes building information analysis easier and more powerful, BIM is likely to become even more relevant to construction site safety and will be a valuable component to the future of Singapore’s construction industry.

 

Image2

 

Looking ahead: Long-term benefits of compliance

As the construction industry gears up for the six-month countdown, it becomes increasingly urgent to focus on preparation. To effectively prepare for the impending changes, construction firms should conduct comprehensive safety audits, assessing current protocols and practices while identifying areas for improvement.

 

As part of this preparation, strategies for engaging and educating the workforce on the forthcoming safety standards are also crucial. Companies that proactively embrace and integrate high safety standards beyond mere compliance can demonstrate their unwavering commitment to best practices, positioning themselves as leaders in the construction sector.

 

By prioritising the well-being of workers and cultivating a safer and more secure working environment, they establish a foundation for long-term sustainability and competitiveness.

About Vitaly Berezka

A person in a suitDescription automatically generated

Vitaly Berezka is Head of Sales across Central Asia, MENA and APAC for the construction and real estate software company, PlanRadar. With an engineering degree in construction, Vitaly also holds an executive degree in business administration. His experience in the real estate development and construction industry spans more than 15 years. Since 2013, he has held management positions in international companies that provide innovative solutions to the construction and real estate industries. Besides lecturing on digitalisation topics at universities, he is the author of scientific publications and the co-author of three books. Vitaly is a member of the International Real Estate Federation (FIABCI).

 

Image2

The Exchange TRX in Kuala Lumpur Opens to the Public

/in /by
Reading Time: 5 minutes
Image2

 

A new chapter unfolds this month in the heart of Kuala Lumpur, as The  Exchange TRX opens its doors, inviting the community to discover the future of experiential retail,  sustainable urban living, and vibrant cultural expression. Part of the 17-acre lifestyle quarter of TRX, The Exchange TRX brings international placemaking and sustainability standards to Malaysia, strategically located in the nation’s first dedicated international financial district (IFC).

 

With more than 400 stores spread across 1.3 million sq ft of nett lettable area (NLA), The Exchange  TRX redefines the retail landscape with the introduction of global firsts and new-to-market brands. It is also the first retail asset in Malaysia to achieve LEED Gold Certification, in a nod to its commitment towards building sustainability.

 

As the new social heart of the city, The Exchange TRX goes beyond the traditional retail experience with a sprawling 10-acre public-activated park on its rooftop. The first major green space in the city in over two decades, the park is home to a unique ecosystem of over 150,000 plantings with 95 per cent comprising native or naturalised species. Open year-round, TRX City Park will be free for all to discover, supporting Malaysia’s 2040 vision of achieving inclusive and sustainable growth. It will also serve as one of Kuala Lumpur’s most scenic locations to host festivals, concerts, movie premieres,  international exhibitions and more.

 

The Exchange TRX is jointly developed by Lendlease, a globally integrated real estate group based in Australia and TRX City Sdn Bhd, the master developer of the Tun Razak Exchange.

 

“Our ambition for The Exchange TRX is really to create a truly exceptional and transformative space that not only sets new standards in the retail industry but also a landmark that represents the heart of Kuala Lumpur’s vibrant community and Malaysians’ exemplary service and hospitality,” says Mitch  Wilson, Project Director of The Exchange TRX and Head of Retail of Lendlease Malaysia.

 

“As with all Lendlease developments, our goal is to create world-class, sustainable, and community-focused destinations that not only meet but exceed the expectations of consumers, enrich the local culture, and make a significant and positive impact on the country’s retail and economic landscape. We want The Exchange TRX to be known for having enhanced the community’s quality of life and contributed to the city and country’s growth and identity,” he adds.

 

TRX City Chief Executive Officer Dato’ Azmar Talib said the opening of the retail and lifestyle hubs within TRX marks a pivotal moment for the IFC enhancing its vibrancy, seamlessly integrating commerce, lifestyle, and innovation.

 

“The launch of The Exchange TRX marks a significant milestone in our journey towards establishing a truly dynamic and vibrant heart of the Tun Razak Exchange. It aligns with our vision to create an  IFC that resonates on a global scale. The amalgamation of top-tier retail experiences, contemporary lifestyle amenities and an iconic public realm, amplifies its allure, positioning TRX among the premier destinations for business and leisure in the region,” he said.

 

Image1

 

The Exchange TRX also celebrates both local and international cuisine with unique dining outlets across five dining precincts. Food Exchange brings together the best of the traditional hawker scene,  featuring beloved local delicacies and snacks. Concourse Dining will feature international food offerings while Park Dining consists of six unique dining experiences with garden-inspired interiors providing a perfect backdrop for private and corporate events. Premium Dining combines gastronomy and aesthetics to present an exquisite, luxurious dining ambience, whilst the alfresco  Dining Terrace serves as an ideal place for socialising.

 

Amongst the diverse array of vendors at The Exchange TRX is American hotdog, hamburger and milkshake giant, Shake Shack’s first-ever store in Malaysia. The incredible lineup also includes sophomore stores for Bacha Coffee, the Moroccan coffee brand established in 1910; Italian confectioner and gelateria, Venchi; Japanese noodle restaurant, Kanbe Ramen, which will debut a  refreshed park dining concept; as well as proudly Malaysian cult favourite, Paolo Paolo Gelato.

 

Meeting the market’s increasingly sophisticated demands for retail and leisure, the opening of The  Exchange TRX marks the national debut of brands such as Gentle Monster, Alo Yoga, Molton Brown and more. Guests can also look forward to exciting statement stores such as Louis Vuitton, Chanel and Gucci. Other exciting brands include escentials — the niche luxury fragrance destination for brands such as Penhaligon’s, Santa Maria Novella, Matiere Premiere and more; Italian fragrance brand, Acqua di Parma; as well as the largest HOKA store in Kuala Lumpur.

 

To provide consumers with a seamless shopping experience, several retailers will also integrate e-commerce platforms with their brick-and-mortar stores, providing customers with options like click-and-collect, same-day delivery and in-store digital experiences. In line with digital aspirations on the enterprise front, The Exchange TRX has partnered with retail data insights platform Podium Property Insights (PPI) which will revolutionise the way the mall tracks and drives performance in terms of sales, marketing, operations, and sustainability targets. PPI will help The Exchange TRX activate the value of the precinct by unlocking actionable insights about the interaction of people, spaces, and places.

 

A hyper-connected node of urban and cultural activity, The Exchange TRX is leveraging Tun Razak  Exchange’s superb vehicular and pedestrian access and is adjoined with the largest and only MRT  interchange station, Tun Razak Exchange MRT Station. The financial district provides seamless connectivity to a network of highways such as MEX and SPE, providing convenient access to key destinations in the Klang Valley as well as access through the SMART Tunnel, allowing visitors to bypass surface road traffic.

 

Within the precinct, The Exchange TRX’s pedestrian network of walkways provides walkability and accessibility throughout the development with connectivity to the park, retail, residences, hotel, and office spaces. Additionally, TRX is also connected to Bukit Bintang and KLCC via a pedestrian walkway, extending Kuala Lumpur’s shopping belt.

 

To coincide with this momentous occasion and with the festive season just around the corner, The  Exchange TRX marks its opening with a magnificent Christmas campaign led by brand partners  Chanel and United Overseas Bank (UOB). Running till 31 December 2023, visitors will be enchanted by a magical wonderland replete with festive decorations including a 60 ft. Christmas tree, exciting gift redemptions and activities.

 

In the spirit of giving and as a testament to their interest and care for the wider community, The  Exchange TRX will also organise a donation drive and children’s day out in collaboration with Suriana  Welfare Society — a registered NGO that seeks to address social issues involving disadvantaged children and their families.

 

Image1

Marriott International Signs Agreement with IOI Properties Group

/in /by
Reading Time: 2 minutes
Image1

 

Marriott International, Inc. announced recently it has signed an agreement with IOI Properties Group, one of Malaysia’s leading property developers to bring W Singapore – Marina View, a new 350-room property, to downtown Singapore. The hotel is slated to debut at the site of a 51-story mixed-use development. Perched atop the hotel is Marina View Residences, where a suite of high-end apartments is set to redefine luxury living. Construction of the development is expected to begin by the end of 2023, with the hotel projected to operate in late 2028.

 

“We are excited to collaborate with IOI Properties Group to bring the iconic W brand to Marina  Bay, one of the island city’s most dynamic and vibrant areas,” said Oriol Montal, Managing  Director, Luxury Asia Pacific excluding China, Marriott International. “This signing underscores the strong demand for our luxury brands across the region as we continue to expand our portfolio in new and existing markets. It also marks the opening of our second W Hotels in Singapore, following the success of W Singapore – Sentosa Cove. Singapore is a city that celebrates diversity, creativity and innovation, and W Singapore – Marina View is anticipated to redefine Singapore’s iconic skyline with its evolved design, dynamic programming and Whatever/Whenever service philosophy,” he added.

 

W Singapore – Marina View expects to offer guests an exhilarating escape in the heart of the city, with stunning views of Marina Bay and the central linear park along the planned  Marina View Road. The project is anticipated to be led by Architects 61, with interiors by  Hachem Design and is slated to feature stylish and spacious guest rooms and suites, as well as signature venues such as the WET deck, FIT fitness centre, AWAY spa and WOOBAR.  Plans also call for the hotel to feature innovative dining and social spaces at multiple restaurants and bars, including the brand’s iconic Living Room amplified through always-on programming.

 

Mr Lee Yeow Seng, Group Chief Executive Officer of IOI Properties Group, said, “This partnership with Marriott International is testament of the confidence we have in their track record and renowned expertise in the hospitality industry and W Hotels’ commitment to delivering unparalleled luxury and innovation. We are delighted to answer to the growing  demands of luxury lifestyle hotels with W Singapore – Marina View, which is set to transform  guest experience in leisure, entertainment and gastronomy here within the iconic Marina Bay district.”

 

Located near key commercial and entertainment districts of Marina Bay, Raffles Place and  Tanjong Pagar as well as the heritage neighbourhood of Chinatown, W Singapore – Marina  View is set to appeal to locals and travellers.

 

 

Image1

APAC Real Estate Investment Landscape Undergoes Significant Transformation

/in /by
Reading Time: 3 minutes
Image1

 

In a market accustomed to abundant supplies of cheap debt, the real estate landscape in Asia Pacific (APAC) is undergoing a significant transformation following the series of rapid interest rate hikes initiated by the US Federal Reserve since mid-2022, according to the 18th edition of the Emerging Trends in Real Estate® Asia Pacific 2024  Report, the regional real estate forecast jointly published by the Urban Land Institute (ULI) and PwC. The report is based on a survey of 149 real estate professionals and 54 interviews with investors,  developers, property company representatives, and lender brokers.

 

In the absence of asset revaluations, far fewer deals are now able to deliver accretive returns,  prompting large global investors to retreat to the sidelines as they wait for markets to reset. Traditional asset classes often pursued by global investors – large, core, office and retail assets – have also fallen from favour as yields have not yet expanded to match the expectations of potential buyers, resulting in a bid-ask standoff.

 

As they seek out assets that offer yields able to match revised underwriting thresholds, investors are pivoting to alternative asset classes, including those in the “beds” category, such as multifamily residential projects, student housing, senior living, and hotels, as travel and tourism continue their rebound. Other alternative asset classes include logistics, data centres, and life science assets. Alternatives are popular due to their potential to tap tailwinds of demand generated by technological,  demographic, or social trends that are uncorrelated with macroeconomic fluctuations.

 

The higher interest rate environment affects not just the financing of new deals, but also the refinancing of purchased assets, creating the prospect of a “refinancing wall” that may drive a wave of selling by owners unable or unwilling to recapitalise. The tightened traditional bank lending has catalysed a  financing gap of as much as US$5.8 billion for private credit to fill.

 

The report highlights how transition risk arising from energy efficiency issues has become a critical factor impacting asset valuations. Properties failing to meet environmental standards may face market discounts, emphasising the growing importance of aligning real estate portfolios with sustainable practices.

 

Alan Beebe, CEO, ULI Asia Pacific said, “As investors are re-evaluating their strategies, a ripple effect on real estate markets is widespread. There is an urgency for real estate to align with  environmental standards, and adaptation and informed decision-making will be key to manoeuvring this  new chapter in real estate financing.”

 

Stuart Porter, PwC Asia Pacific Real Estate Tax Leader said, “Amidst this transformative phase in  APAC’s real estate landscape, investors are at a juncture where strategic alignment with sustainable practices for resilient real estate portfolios will be critical. The shift towards alternative asset classes  signifies an evolving investment model fuelled by diverse socio-economic trends.”

 

Against a backdrop of sharply reduced overall investment, the share referable to regional cross-border flows has held up well (i.e., flat, year-on-year in the third quarter of 2023) compared to plunging  transactions from global funds (down 64 percent for the same period). One reason for the relative strength of intra-Asian flows – in particular those from Singapore – has been the resilience of regional economies. Another reason has been an upswing in outgoing capital from Japan in search of higher returns.

 

This year’s top Emerging Trends investment prospect rankings reveal a notably optimistic perspective despite a gloomy global outlook, indicating overall confidence in APAC as a safe haven compared to the West. Unsurprisingly, given that interest rates remain at ultra-low levels, Tokyo and Osaka rank first and third respectively. They are followed by Sydney and Melbourne in second and fifth, reflecting a  historical preference for Australian core assets among global investors, together with expectations of strong demand for Grade-A assets. Singapore is ranked fourth place, as investors continue to regard it as a viable core market given the limited supply, ongoing demand for space, and good prospects for rental growth.

 

The full report can be accessed via the ULI Knowledge Finder.

 

Image3

Wyndham Royal Lee Phuket Unveils Grand Opening

/in /by
Reading Time: 3 minutes
Image3

 

The grand opening of Wyndham Royal Lee Phuket marks the debut of a distinguished airport-adjacent destination within the renowned ‘Wyndham’ brand. The commitment to providing an exceptional guest experience is at the forefront of the newly inaugurated Wyndham Royal Lee Phuket. Situated close to Phuket Airport, this esteemed addition to the world’s largest hotel alliance brand positions itself as the preferred choice for travellers, emphasising its convenience and accessibility.

 

Chairman of the Royal LEE Group emphasising the inheritance of Wyndham’s renowned excellence, Mr. Li Min remarked, “Wyndham Royal Lee Phuket is dedicated to crafting a distinctive and unforgettable stay for guests. Positioned just 3 minutes from the airport, near Sirinat National Park and Naiyang Beach, our international guests will enjoy unparalleled convenience and a unique accommodation experience, setting a new standard for Phuket airport accommodations.”

 

Image4

 

The pinnacle of excitement at the opening ceremony was the signing of a strategic cooperation agreement between the Royal Lee Phuket Mixed-use development project, ZTE Corporation, and TRUE. This announcement officially confirmed the establishment of the first community implementing FTTR technology in Phuket, signalling a promising future for the development of intelligent health and wellness communities on the island.

 

In partnership with TRUE and ZTE, the Royal Lee Phuket smart community has successfully implemented FTTR technology, ushering in gigabit-level fibre-to-the-home Wi-Fi. This achievement delivers a rapid and stable network connection for residents, representing a major milestone in the community’s digital infrastructure. FTTR technology introduces a new era of gigabit Wi-Fi, addressing high bandwidth demands such as 4K/8K videos and Cloud VR. With comprehensive whole-house coverage and efficient digital operation and maintenance, it eliminates network dead zones, enhances operational efficiency, and supports connectivity for up to 256 terminal devices.

 

Image2

 

As the pioneering community in Phuket to embrace FTTR technology, this initiative establishes a forefront position in technology, setting a benchmark for digital community construction and presenting a sustainable development model. Beyond being a mere network upgrade, the introduction of FTTR technology signifies a commitment to a new digital life for residents. This collaborative effort holds profound significance, laying a robust foundation for the sustainable growth of smart communities and making a positive contribution to the digital and intelligent community development of Phuket.

 

Moreover, the Royal Lee Phuket Mixed-use development project enjoys robust backing from the prestigious Royal Lee Cancer Hospital in Guangzhou. Committed to establishing the largest smart health and wellness community in Phuket and standing out as a centrepiece of the Andaman Wellness Corridor, the project aligns with a vision of comprehensive well-being. The Royal Lee Cancer Hospital in Guangzhou, recognised with international JCI certification, is a leading cancer speciality hospital in southern China. It is devoted to delivering top-tier medical services encompassing cancer prevention, treatment, and rehabilitation.

 

Prioritising holistic health across the lifespan, the hospital employs a resident-centred examination approach, intricately designing health management services featuring “cancer early screening, chronic disease management, and body anti-ageing.” This approach caters to a range of customer health needs. With the steadfast support of the Royal Lee Cancer Hospital in Guangzhou, the Royal Lee Phuket Mixed-use development project is poised to provide residents with an all-encompassing health and wellness experience, ensuring health assurance for the future.

 

Image1

 

The project appeals not only to retirees in search of a natural and healthy lifestyle but also caters to airport transit tourists, business travellers, digital nomads, and remote workers. This initiative enhances the profit outlook for property investors, who can opt to delegate management responsibilities to Royal Lee Phuket Mix Development. This comes with an enticing profit-sharing arrangement and an additional perk of a 30-day stay annually, presenting an ideal fusion of investment and vacation.

 

Image2

Singapore Signs First Implementation Agreement with Papua New Guinea

/in /by
Reading Time: 2 minutes
Image2

 

Singapore and Papua New Guinea (PNG) signed an Implementation Agreement on carbon credits cooperation under Article 6 of the Paris Agreement recently. The Agreement was signed by Minister for Sustainability and the Environment Grace Fu and Papua New Guinea Minister of Environment, Conservation and Climate Change Simo Kilepa on the sidelines of the 2023 United Nations Climate Change Conference (COP28). The Agreement comes after both countries signed a Memorandum of Understanding (MOU) on the sidelines of COP27 last year to collaborate on carbon credits.

 

This marks the first Implementation Agreement for Singapore. The agreement sets out a legally binding framework and processes for the generation and international transfer of carbon credits aligned with Article 6 of the Paris Agreement, between Singapore and Papua New Guinea.

 

This collaboration will advance both countries’ climate ambitions and help to channel financing towards additional mitigation efforts through carbon credit projects, which would otherwise not be possible. The carbon credit projects authorised under the Implementation Agreement will also promote sustainable development and generate benefits for local communities, such as the creation of jobs, access to clean water, improved energy security, and reduction of environmental pollution.

 

As part of Singapore’s Article 6 cooperation, project developers will be required to cancel 2% of the carbon credits authorised under the Implementation Agreement at first issuance to ensure additional contribution to the overall mitigation of global emissions.  They will also be required to contribute the equivalent of a 5% share of proceeds or authorised carbon credits towards climate adaptation in Papua New Guinea. This will help Papua New Guinea prepare for and adjust to the impacts of climate change.

 

Image1

 

Singapore is also supporting the development of carbon markets, by enabling the demand and supply of high-quality carbon credits to be matched. Under Singapore’s International Carbon Credit (ICC) framework, Singapore-based carbon tax-liable companies can source for eligible ICCs generated under this Implementation  Agreement to offset up to 5% of their taxable emissions. Trading these credits through Singapore will help unlock new business opportunities in areas such as carbon services and sustainability solutions, strengthening Singapore’s position as a carbon services and trading hub.

 

Minister Fu said, “High-integrity carbon markets can contribute to much-needed climate action globally. As an alternative energy-disadvantaged country, effective international cooperation, such as through carbon markets, will also help us to achieve our climate ambitions. We are delighted to sign our first Implementation Agreement with Papua New Guinea, a fellow Alliance of Small Island States (AOSIS) member. We look forward to working with Papua New Guinea to advance climate action together.”

 

All photos courtesy of COP28 Singapore Pavilion.

Image1

LIXIL Celebrates Architecture and Design Industry Excellence at World Architecture Festival 2023

/in , , /by
Reading Time: 3 minutes
Image1

 

LIXIL, maker of water and housing products, through its GROHE power brand, was pleased to support the World Architecture Festival 2023 (WAF) for its sixteenth edition at the iconic Marina Bay Sands, Singapore. The WAF is the largest global gathering of the industry’s leading architects and designers (A&D), thought leadership and celebration of their prestigious achievements.

 

WAF also represented a global platform for branding, business networking and opportunities. Nearly 2,000 delegates attended the WAF and INSIDE events and over 800 entries vied for coveted awards across different categories. Out of the 55 category and special award winners, 24 were from Asia and Australasia, led by Australia (10), China (6), and equivalently placed Thailand, India and Japan (2 each).

 

This year’s festival theme ‘Catalyst’ marked WAF’s return to Asia, after a hiatus of almost a decade. The theme explored how architecture and design can be catalysts for beneficial change through enabling, accelerating and inspiring interaction across the entire built environment, to benefit both individuals and institutions. The global A&D community gathered to advance this theme through various WAF keynotes, speakers, and conversations to catalyze ideas and opportunities.

 

GROHE, a global brand for complete bathroom solutions and kitchen fittings, has supported WAF since the inception of the festival in 2008. As WAF Founding Partner, GROHE represents the unique role water plays in the design discipline and helps shape innovative architectural visions and solutions around the element of water.

 

GROHE affirmed this commitment with the sponsorship and awarding of the GROHE Water Prize at WAF to UArchitects. The winning proposal calls for the scaling up of ‘micro-colonies’ comprised of floating platforms in Bangladesh. The connected platforms allow for the growing of food, with a community hub created to provide services (such as education and storage) to clusters of family homes.

 

Clean water production is of great importance for these micro-colonies, which are intended to cope with extreme weather events, combat poverty and provide a new model of how communities can address the challenges of climate change. This is the fifth time the GROHE Water Prize has been awarded, with past winners across water filtration, generation and cooling systems in Peru, Brazil and Greece.

 

Satoshi Konagai, Leader, LIXIL Water Technology, Asia Pacific, expressed, “Through our GROHE power brand, we are proud to be the Founding Partner of the World Architecture Festival since its 2008 inception. Over the past sixteen years, we have worked together to grow WAF into a respected global platform that attracts thousands of delegates to celebrate excellence, network and explore business opportunities over the course of the festival. We are delighted to congratulate the WAF award winners, the GROHE Water Prize winner and WAF shortlist candidates. LIXIL will continue to engage the A&D community to uplift industry excellence and address challenges, including macrotrends across health and wellbeing, sustainability and urbanisation.”

 

“This year’s festival is especially meaningful as we are concurrently launching GROHE SPA for the Asia Pacific region. First launched at this year’s Milan Design Week, we are excited to bring GROHE SPA’s specially curated collections that can create versatile combinations for a multi-sensory, personalised showering experience. We look forward to collaborating with discerning homeowners and industry partners on unique GROHE SPA projects across the region.” Mr. Konagai added.

 

Paul Finch, Programme Director, WAF, said, “Congratulations to all the WAF and INSIDE award winners and shortlist candidates. Their ideas and projects are a beacon for how design can be a multi-faceted catalyst for positive change. Our return to Asia is immensely gratifying to ignite fresh ideas and relationships in and around the A&D community. We greatly appreciate the support and encouragement from GROHE, our sponsors, partners, delegates and the global A&D community.”

 

Ahead of the WAF main event in Singapore, the GROHE and WAF teams worked closely to strengthen industry engagement through a series of special pre-WAF events and receptions held in Singapore, Indonesia, Vietnam, Thailand and the Philippines that was enthusiastically received by the A&D community and media in each country.

 

Image1

Building and Construction Sector Show Collective Force at COP28

/in , /by
Reading Time: 4 minutes
Image1

 

The built environment was centre stage during the ‘Multilevel Action, Urbanisation and Built Environment/Transport’ day at the UN Climate Summit COP28. The World Green Building Council (WorldGBC), a global network of 75+ national Green Building Councils (GBCs), and leading businesses in the buildings and construction sector presented a unified call to action to political leaders, stressing the critical role of the built environment to deliver climate solutions.

 

The Open Letter was accompanied by a policy briefing that laid out the regulatory outcomes urgently needed to scale up action and deliver on the sector’s huge potential. It also supported the Buildings Breakthrough (a high-level political announcement that was launched and endorsed by 25+ countries in the context of the Breakthrough Agenda global process), calling for ‘near-zero emission and resilient buildings as the new normal by 2030’.

The statement

The Open Letter went beyond simply mitigating the negative impacts of the sector’s emissions, and made bold claims about its potential for enormous contributions to social equity and financial prosperity. The letter highlighted that beyond the opportunity to reduce 37% of total carbon emissions, the building and construction sector could also create $1.5 trillion in sustainable investment opportunities in emerging markets, and lift 2.8 billion people out of energy poverty.

 

The letter was fronted by signatories of WorldGBC’s Net Zero Carbon Buildings Commitment (a leadership initiative in the sustainable built environment arena), WorldGBC corporate partners (including ARUP, Buro Happold, CEMEX, Saint Gobain, Signify, Siemens, Skanska, Stora Enso, Schneider Electric, Knauf Insulation, WSP) and Green Building Councils (representing 46,000 private and public sector members around the world). A total of over 350 organisations and businesses put their support behind the letter and the numbers are growing daily. These leaders operate across every region on the planet, both on a local and global scale.

The challenge

The building and construction sector accounts for nearly 40% of global energy-related carbon emissions. It is a huge industry nexus and demand sector, with cities consuming 70% of all global resources. Whilst awareness of the sector’s impact and its potential as a climate solution is rising, so are its operating emissions, which have grown by an average of 1% year on year from 2015 to 2021.

 

The resilience of the global building stock is insufficient to cope with a growing population alongside the impacts of climate change. Flooding and extreme heat pose an imminent risk not only to human life, but also to social cohesion and economic stability.

 

Last but certainly not least, the financial stakes are high. We saw companies that are not treating decarbonisation as a serious business need and are therefore already paying a carbon premium in the short term; in the long term, they will miss out on emerging opportunities to secure market share, faced with shifting decarbonisation investment and regulatory environments.

The Open Letter ask

The WorldGBC network and its partners are calling for:

  • Strong political leadership to scale the sustainable transformation of the built environment.
  • Climate Mitigation: Parties commit to the integration of building codes, sub-national policy and commitment within their Nationally Determined Contributions, and pledge to double their energy efficiency improvements and triple global renewable energy capacity by 2030.
  • Climate Adaptation: Parties agree on a global goal for adaptation and recognise the role of buildings in anticipating, adapting, and responding to climate impacts and commit to making greater efforts to integrate resilience and adaptation into existing policies and programmes, including within the building sector.
  • Climate Finance: Parties agree to increased funding for energy efficiency improvements and Loss and Damage, and support a global reform of financial institutions for more just, equitable and effective debt lending and borrowing.
  • The Global Stocktake: Parties to commit to the Buildings Breakthrough as a platform for collaboration between national governments and stakeholders to accelerate action and optimise the role of buildings in closing the gaps identified in the Global Stocktake.

 

Cristina Gamboa, CEO, WorldGBC, said, “Climate Action is often misunderstood as human efforts to save the planet. In fact, it is humanity’s effort to save itself and the environment we have created to facilitate prosperity, equity and growth. It’s about every government that wants to maintain stability and cohesion, every business that wants to remain successful and financially viable, and every person who enjoys the comforts of modern life. In the built environment, we are falling short of the goals that will preserve us. And we don’t need to. Solutions already exist to secure a better future. We can still get back on track. To do that, we need an enabling policy environment, industry ambition, and finance to leverage the huge potential of the built environment. The numbers of industry leaders backing our Open Letter make a powerful statement to send to policymakers. The industry is ready for change. The world is calling for change. This COP28 can be the moment where leaders uphold their commitments and set out an energy-efficient, regenerative, and just transition for the building sector. Are you ready?”

 

Find out more here or follow the campaign on social media at #BuildingTheTransition.