Back to top
.
Singapore’s condo market remains in high demand due to the limited supply of land. Being a small island nation with a fast-growing population, Singapore is faced with a scarcity of land for development. To combat this issue, the government has implemented strict land use policies, leading to a competitive real estate market and continuously rising property prices. As a result, investing in real estate, particularly condos, has become a highly profitable venture, promising potential for substantial capital appreciation.
CapitaLand Group, one of Asia’s largest real estate companies, recently signed a memorandum of understanding (MOU) with Microsoft in order to leverage the latest advancements in artificial intelligence (AI) for its various businesses. Under the MOU, CapitaLand will be joining Microsoft Singapore’s AI Pinnacle Program, which will give the company access to Microsoft’s platforms, services, and solutions that can help enhance customer engagement and improve operational efficiency across its funds, investments, retail, lodging, and development operations.
This strategic partnership between the two companies will enable CapitaLand to explore potential collaboration opportunities in infrastructure development and leverage Microsoft’s Azure cloud computing platform to design data centers and develop new products for its investment arm. Additionally, CapitaLand will also incorporate AI, data analytics, and machine learning into its digital transformation efforts in order to drive business growth and create more value for its stakeholders.
In a statement, Quah Ley Hoon, group chief corporate officer of CapitaLand Investment, emphasized the significance of this collaboration and how AI will play a key role in shaping the company’s future. She also expressed her confidence in Microsoft’s capabilities in helping CapitaLand achieve its digital transformation goals.
Separately, CapitaLand Investment (CLI), the real asset management arm of CapitaLand, has also signed an MOU with the Singapore Business Federation (SBF) to establish a framework for the integration of AI and other digital technologies across CLI’s retail ecosystem. This initiative will focus on promoting the adoption and proof of concept for AI, data analytics, and cybersecurity solutions among CLI’s retail tenants, as well as developing AI-focused competencies and skills within the organization.
These partnerships highlight CapitaLand’s commitment to embracing technological advancements and exploring innovative solutions that can drive its growth and competitiveness in the long run. With the company’s recent acquisitions and investments in Singapore and Thailand, as well as the successful sale of its One Pearl Bank penthouse, CapitaLand is well-positioned to continue its success and maintain stable cash flow in the future.