To meet dynamic customer demands and business needs, the real estate industry in Southeast Asia is actively embracing cutting-edge tech applications. The Internet of Things (IoT) has proved to be an effective solution, providing greater business value, differentiating companies from their competitors, and offering new sources of revenue.
With the aim to exchange industry insights and future possibilities, Tuya Smart (NYSE: TUYA) organized a webinar on September 23 to discuss topics on IoT-enabled smart real estate in the Southeast Asian region. The event was hosted by Charles Zhao, Director of Southeast Asia Region for Tuya Smart, and brought together speakers from IoThings (Thailand), HiLife Interactive (Singapore), Centrin Online Prima (Indonesia), participants from the Singapore Manufacturing Federation (SMF), and the media.
“The IoT solutions for the real estate industry enable you to collect and analyze data from connected assets, people, and places to deliver actionable insights in an industrial environment. It can also increase production uptime and reduce operational risks. Real estate players should get prepared for business transformation before losing out to the competition when IoT technologies are destined to disrupt the whole industry in three to five years, “said Zhao in his opening remarks.
In his keynote speech, Na-pajra Umpudh, Managing Director of IoThings, shared insights on Thailand’s high rate of IoT adoption and his perspectives on the future trend of smart properties.“We are anticipating growing partnerships between real estate developers and IoT firms. It will also be essential for local IoT firms to tap into the tech capabilities of global IoT firms such as Tuya to develop better solutions for their customers. While new properties will definitely be smart, existing properties present retrofitting challenges and will create large potential for IoT firms like us to explore,”said Umpudh.
Andrew Tan, Senior Key Account Manager at HiLife Interactive, spoke about how his company helps integrate smart condominium management and lifestyle offerings. He also emphasized how IoT applications can greatly ease the lives of building owners, tenants, and real estate agents, by providing them with effective building maintenance and predictive analytics.“We can only expect more smart solutions deployed in smart living,”said Tan.“Hilife by partnering Tuya is able to successfully curate a 3 in 1 solution from smart home automation, smart estate management and smart communities that has benefited more than 300 residential condominiums in Singapore.”
Mahrizal Jafar, Product Owner at Centrin Online Prima, shared his company’s experiences of implementing IoT technologies in the local Indonesia market especially in the security, energy, and parking system field. Being one of the pioneer internet service provider in Indonesia, Centrin Online Prima has accumulated rich experiences in implementing IoT infrastructure and carry out smart projects in the real estate industry in the local market. He also mentioned how his company was able to provide more smart apartment solutions with support from Tuya’s efficient solution infrastructure.
Before moving on to the roundtable discussion, Jimmy Zhou, Solution Director of Tuya Smart, introduced Tuya’s smart residential solutions and the Project Klein program for developers. For companies hoping to upgrade their products and services, reduce costs and increase efficiencies through the application of IoT capabilities, participating in the program will allow them to leverage Tuya's ecosystem resources.
The roundtable discussion deep dived into issues concerning the prospect of IoT adoption in Southeast Asia, including tech readiness, talent readiness, and government support in the respective markets.
Finally, the webinar was concluded with an MOU signing ceremony between Tuya Smart and the Singapore Manufacturing Federation (SMF), a national organization representing the interests of 5,000 corporate members across the manufacturing sector in Singapore since 1932. The collaboration aims to explore different ways to grow the manufacturing communities in both China and Singapore; SMF members will be able to leverage on Tuya’s solutions and receive timely technical support.
“This collaboration between SMF and Tuya is timely as the manufacturing sector in China, Singapore, and globally is going through the transformative process towards Industry 4.0,” said Douglas Foo, President of Singapore Manufacturing Federation.“In formalizing the strategic collaboration, we hope to assist more companies to build technical skillsets in their existing employees which will allow these companies to meet the current challenges head on and allow for growth even in these challenging times.”
“By partnering with SMF, we believe we can unleash business potential and grow manufacturing communities in both China and Singapore,”said Ross Luo, General Manager of Asia Pacific Region of Tuya Smart.
Tuya has many successful client stories in the Southeast Asia market so far and has collaborated with influential partners such as IoThings (Thailand), HiLife Interactive (Singapore), Centrin Online Prima (Indonesia), With the belief that the IoT adoption rate in Southeast Asia will continue to accelerate, Tuya is prepared to collaborate with our partners in various vertical industries such as education, elderly care, and commercial.
