Singapore is one of the technical countries of the world where technology is becoming a major trend in the evolvement of the country’s economic phase. Singapore has done much to get itself in the good books of international relations whilst becoming a tech giant as well.
Singapore now lists among the most tech-savvy countries of the world. The WEF’s (World Economic Forum) Global Information Technology Report suggests that Singapore is now ranked amongst the top-seven countries in terms of generating the economic impact and doing it through investing in information and communication technologies in 2016.
In terms of evolving their economy, the Singaporean Government launched Information Transformation Map in February 2018 which deals with the real estate technology. In a state of evolution, this has become a strategic roadmap for companies which will assist them towards innovation and productivity.
Singapore is doing as much as they can in terms of motivating the public institutions and doing it more and more by pursuing them to adopt new technologies and the integration of new real estate technology. Singapore condo such as Riverfront Residences is the new directive trends which are helping in the speeding up process of the evolution of their economy.
The real estate companies which are working in Singapore are already geared up and doing as much as they can to stand up with the tech giant. As their hard-work states, the developer goes by the name Capitaland’s Corporate Venture Fund (CCVF) has invested US$110 million from Series A to C companies.
Another construction company named as Hop Hup conglomerate has invested through their investment arm called Aurum which has pumped almost US$1.5 million into Singapore’s co-living startup which is first in its existence known as Hamlet and is looking towards to invest more.
As with this investment, people of Singapore along with the Singaporean Government has felt the change, as well as the residential market, also witnessed it with their own eyes. As evolution, many properties agencies have launched an online marketplace for home transactions. These property agencies include Huttons Asia, ERA Realty and PropNex Realty.
The ITMs (Information Transformation Map) are more intended towards sophisticated and innovative solutions which include automation through machine learning (Artificial Intelligence) and predictive maintenance. While, on the commercial front, smart buildings are expected to pop-up in the market.
As with the time passing, Singapore is becoming more and more vibrant and innovative through technology and investing more in the real estate world. It is not wrong to say that Singapore has done much more than any other country could. While becoming a tech-giant, Singapore’s annual budget has taken a large turn indicating that it is going to create a more vibrant and innovative economy. When it comes to the evolvement of the economy, Asia is playing a vital/important role in the investment and global phase of Singapore’s condo real estate technological terms.
As all of the Singaporeans are concerned with the future of tech-giants. The head of research and consultancy at JLL, Singapore states that; “A future-ready real estate industry is imperative not only in terms of preparing to help the real estate industry to ride this wave only to continue to grow but, it is also to show the investors that Singapore is more concerned about maintaining its competitive advantage and relevance in this digital age.”