Transformation in the Real Estate Industry: Challenges & Enablers
As technology continues to make innovations in the Construction & Real Estate Industry, the adoption of digital twins is increasing in viability and usage. But what are the difficulties that come with digitalisation and how can those be overcome? What are the factors that enable its implementation? These were some of the questions addressed in the online panel discussion held by Spaceworx Pte Ltd titled, “Transformation in the Real Estate Industry.”
The panel was part of the virtual launch event of Spaceworx’s online marketplace to the public and was moderated by Mr Lakshita Wijerathne, CEO of Spaceworx. Forming the panel of distinguished speakers were Mr Chunga Cha, Co-Founder & CTO of Re-imagining Cities, Mr Dominic Penaloza, CEO of REinvent Ventures and Ms Chan Hui Min, Director of DP Architects. Catering to the Construction & Real Estate industry, the platform is reinventing PropTech-enabled solution sourcing and their lifecycle management.
Kicking off the discussion, Mr Cha shared why the Real Estate industry needs to transform towards having a positive impact on communities and increasing resilience and sustainability. He was followed up by Mr Peneloza who talked about how technology helps that transformation through factors such as automation, data-driven operations, and business model innovation.
Having been part of the collaboration between DP and Spaceworx since the platform’s inception, Hui Min shared insights on how the online marketplace addresses industry needs. She cited how the Spaceworx ecosystem democratises the way digital twins are built by having the knowledge of creating and assembling PropTech products readily available for users. This ‘Shop, Plug & Play’ approach she attributes as drawing inspiration from the internet and consumer technology world. Hui Min also highlighted that the platform has the potential to push the PropTech industry further by bringing the know-how in the real estate realm into the technology realm where it can then be accessed and used by other users of the platform. She concluded that the platform reduces the complexity of the built environment industry, facilitates the need to evolve — allowing construction of different scales and compositions, and pushing the human dimension by giving talents a platform to contribute and add value to the construction industry.
Headquartered in Singapore, Spaceworx Pte Ltd has built a B2B online marketplace for the Construction & Real Estate industry, reinventing PropTech-enabled solution sourcing and their lifecycle management using a ‘Shop, Plug & Play’ approach. Led by a team with 20+ years of experience in delivering Smart City, Smart Building, and Smart Workplace solutions, Spaceworx ecosystem enables landlords, occupants, FM operators and system integrators to source ‘pre-integrated’ PropTech products, related services, and smart automation in meaningfully assembled, outcome-driven bundles.
Driven by a vision to be the globally ‘trusted intermediary’ in enabling sustainable, resilient and enjoyable spaces, Spaceworx offers solutions from various focal categories of contemporary relevance, including those from Sustainability, Health & Wellbeing, Security, Smart Facilities Management, Space Optimisation and Occupant Experience. The Spaceworx marketplace is currently available to the Singapore & Malaysia markets, and in the upcoming years, it will be expanded into APAC, Middle East, Europe, and USA markets, making it a global marketplace.