Proptech on its way towards changing the property landscape in China
May 15, 2019 (China Knowledge) - Proptech, or property technology, the use of technology to improve office design and efficiency is gaining traction in China as more companies look to deploy such technologies to analyze data and improve management efficiency.
According to property broker JLL, more than USD 20 billion has been invested into Proptech globally with more than a third of these investments finding their way into China. JLL itself is also looking to participate in this growing sector, having setup a fund last year committing USD 100 million towards investing into such companies worldwide.
Given the Chinese government’s strong support and overall tech-savviness of the country, more property managers are using technologies such as artificial intelligence, internet of things and big data to analyze how buildings are being run to determine areas for improvement and save costs.
For landlords and operators, they can now collect and better monitor metrics such as occupancy ratio, real-time energy consumption as well as other technical issues such as abnormal temperatures or excessive power consumption.
For tenants, this data can help them to better optimize their layouts and design such as space allocation and number of work desks needed.
This new technology has the potential to reshape how offices and shopping centers are developed, occupied and even managed, with China looking to be at the forefront of this upcoming sector.
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