PropTech, short for property technology, refers to the digitalisation of the industry to add value to projects, promote sustainable development and improve cost-effectiveness, among others.
The first PropTech collaboration between Mainland and Hong Kong developers in the Greater Bay Area has been established following the signing of a Memorandum of Understanding (MoU) between New World Development Company Limited (NWD) and SCP Group (SCPG).
Through this partnership, the two parties will give priority to the use of each other’s PropTech products and services, in addition to jointly providing other commercial property operators in the Mainland with one-stop integrated PropTech solutions in the long run.
A task force will be formed to strengthen cooperation and development in commercial PropTech techniques, talents and assets of both companies.
Among the PropTech products and services developed by NWD in recent years are the first one-stop Property-Purchase Blockchain Platform in Hong Kong; a blockchain-enabled construction supply chain financing platform; and artificial intelligence green energy optimisation solutions. Meanwhile, SCPG created a digital solution that covers investment, construction, preparation and operations in 2019, which has since served over 200 projects for Mainland Chinese enterprises to date. —Construction+ Online