Real Estate Imperative for Smart Cities.

17 ก.ค. 2562

Technology is ingrained in our everyday life. It is used to promote efficiency and enhance production, and the advent of smart cities whereby data is collected and used to manage resources and improve performance is making waves across Asia.

Recent research released from JLL has advised that the real estate industry plays a role in smart cities is a success. Jeremy Kelly, Director of Global Research at the real estate firm, commented:

“Cities are unleashing technologies such as the Internet of Things and Artificial Intelligence to solve some of the pressing problems of urbanisation – whether it’s traffic or waste disposal or public safety. This has the potential to change the way we live and work, as well as how we interact with the buildings and infrastructure in our cities. These innovations hold particular promise in the Asia Pacific where city populations are growing rapidly.”

Business woman sending sms on cellphone smart city

Attention needs to be focussed on looking at how individuals live their lives in order to perfect smart cities. Without which the cutting edge technologies are not used effectively.

JLL’s research noted the growth of smart cities in Asia and revealed that Thailand has plans between 2020 and 2021 to develop 60 smart cities in the Kingdom with ambitions of adding a further 40 the following year. This follows Singapore who launched the concept in 2014; China and India also have plans to build smart cities too.

JLL argue that should, ‘real estate industry catch(es) up in technology, it could bridge the gap between smart city solutions and the physical spaces where people work, live, and play.’ They liaised with experts from the real estate and technology fields as well as speaking with the government as part of their research, that concluded that many smart cities across the world have been slow to get off the starting block since many are not supported by a strategy for their implementation.

Bureaucracy is in part blamed for this particularly due to the scale of the project but the technology within the real estate industry will improve various elements including the construction stage and the management of buildings which is good news for the residents as well as the investors.

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“To fulfil the promise of smart cities, we must start focusing less on technology and more on how to use it to make lives better for people. We believe real estate can be a connector between the people who are the lifeblood of cities and the digital infrastructure that is increasingly powering our urban environments. It’s time for the real estate industry to step up,” adds Mr Kelly.

 

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