‘PropTech Asia and Beyond’ Summit Offers Place to Pioneer PropTech Strategies to Deliver Superior Market Returns
HONG KONG, May 31, 2021 / PRNewswire / – “PropTech: Asia and Beyond “, the most anticipated PropTech event in Hong Kong, jointly organized by Asia PropTech and Invest Hong Kong as part of the annual flagship StartmeupHK 2021 festival, successfully concluded on Tuesday 25 May. The two-day online and on-site events attracted Asian real estate companies, startups, investors, industry leaders, and academics, among others. Participants reached consensus that the COVID pandemic has accelerated efforts by businesses and governments to improve housing construction through technology to meet global targets for energy efficiency, reduction of emissions and ESG (environment, social and governance), thus increasing the value of real estate.
The 2-day event attracted over 1000 delegates and well over 40 speakers to share their perspectives on the issues shaping the industry, including real estate technology in the context of the sector and the changing cityscape, as well as strategies and solutions to effectively address global issues in the property space through a webinar and physical exhibit. The Summit is co-hosted by MaGESpire and Radiant, with the generous support of Fonto Holdings.
The first day of the event and the open ceremony were officiated and initiated by Paul Chen, co-founder of APT and Bonnie lau, Founder of MaGEHold / MaGESpire.
A wide range of topics, distinguished speakers, and plenty of networking and learning opportunities made the first day of “PropTech: Asia and beyond “a rich experience. Christina gaw, Senior Director and Head of Financial Markets at Gaw Capital, argued that technology is an essential component of any industry and that the real estate sector is no exception. However, the COVID pandemic has highlighted the outdated and insufficient adoption of PropTech. In particular, the use of data in transactions, financing and operational management remains insufficient and opaque. The pandemic has also slowed the execution of real estate transactions and exposed the lack of management of otherwise well-built properties.
Traditional real estate developers face a number of challenges in embracing the technological transformation. Damien wu, Director of Digital Transformation at Chinachem Group, said his company has remained open-minded since the start of transformation planning. The company has interacted with various innovators in the industry, including start-ups and other tech companies in the region. Chinachem has also set up a venture capital fund to invest in a portfolio of start-ups and engaged different stakeholders in discussions on various social platforms. According to Akina Ho, Head of Digital Transformation and Innovation at Great Eagle Company Limited, real estate companies must have three pillars for digital transformation: customer experience, operational processes and a business model. The tech professionals that real estate companies employ must be positive thinkers, team players, and quick learners who demonstrate expertise, loyalty, creativity, and other desirable qualities.
Andrew Baum, renowned professor of PropTech at Saïd Business School, Oxford University, concluded the second day by stressing that the world has set a target for energy efficiency, emission reduction and climate change by 2030. Additionally, he noted that today’s homebuyers risk losing value if they resell properties after 2030 that underperform in terms of energy savings and reduced emissions. Therefore, the real estate market needs a robust system to assess overall performance and to encourage the construction of high quality properties.
PitchStart !, a PropTech startup competition, kicked off in the second half of Day 1. Twelve teams were shortlisted for the final round, where they made presentations to the investor judges.
On the second day, the Festival hosted the PropTech for young people Event. The opening ceremony was chaired by Leo lo, Founder of Asia PropTech, LU Chin Yung, Senior Manager (StartmeupHK) of Invest Hong Kong, and Professor David Chan, Director, School of Hotel and Tourism Management of the Chinese University of Hong Kong. Mr. Lo stated that knowledge of PropTech in Hong Kong has grown over the past two years, and leading real estate developers have started offering internships to young technologists. Mr. Lo also highlighted the many constraints on further adoption of PropTech, including insufficient technology education, limited potential remaining on the rise for the local PropTech market, and conservatism among venture capitalists, etc. He expects the COVID pandemic to spur PropTech’s growth and industrial innovation, thereby increasing the industry’s competitiveness in the market. On site, 15 PropTech start-ups set up stands to present a range of their research products and technologies. During his stay, Mr. Lo shared his belief that BuildTech would likely be the first element to effectively reduce property operating expenses and therefore increase margins.
About Asia PropTech (APT)
Asia PropTech is a community / association that connects PropTech players and industry players Asia. He aspires to promote the adoption of PropTech in Asia and facilitate PropTech’s intra-regional trade through events, knowledge sharing and management, and strategic partnership with PropTech’s counterpart organizations in Europe and United States. Asia PropTech also actively engages stakeholders such as governments, real estate developers and institutional investors, and is committed to promoting technology adoption, and even business model innovation, to solve industry challenges. real estate today. In 2018, the APT organized the Propteq Asia 2018 summit in Hong Kong Cyberport. It was a networking summit for the world’s leading real estate technology companies and their potential partners to better understand the future of real estate innovations and develop investment opportunities. Two hundred of the world’s leading real estate innovators have been invited to co-host conferences on the challenges and opportunities of PropTech (Property Technology).
SOURCE Asia PropTech