Old Property Giants to Support Rising Proptech Newcomers

Proptech is reaching new levels of interest. And investors are looking to cash in on this latest digital trend.

The latest is UrbanLab (城越) by JLL, Swire Properties, and Ping An Urban Tech. The companies are looking to spur innovative solutions for the real estate industry in China.

“We hope to form an urban ecosystem that can benefit our customers and partners in the long run. I think ‘UrbanLab’ is a good starting point,” said Wei Baisong, chief technology officer at Ping An Urban Tech.

The Ping An Cloud accelerator team will run the program, and UrbanLab will select six to twelve late-stage proptech startups. JLL, Swire Properties, and Ping An Group will choose them from their networks.

"JLL is extremely excited to take on this challenge, together with Swire Properties and Ping An, to bringing a new level of innovation and technology solutions to the real estate industry,” said K.K. Fung, chief executive officer, Greater China at JLL.

Over three months, participants can test and refine their products in real-world environments. They include Swire Properties’ HKRI Taikoo Hui and Taikoo Li Qiantan, and at JLL and Ping An Urban Tech’s projects, in Shanghai.

Targeted technology areas include automation, analytics, smart buildings, artificial intelligence (AI), facilities management, construction, tenant experience, customer engagement, sustainability, etc.

In addition to being mentored by industry leaders and experts, participants will have opportunities to connect with investors to discuss funding prospects.

“Even more exciting is the fact that it gives Swire Properties immediate access to cutting-edge technology solutions that have the potential to change the way we do business, and it can bring long-term benefits including those in the area of sustainable development. We look forward to working closely with those companies that pass through the application process,” said Guy Bradley, chief executive of Swire Properties.

The program is now accepting applications until the end of August.