JLL, Swire Properties and Ping An Urban Tech Launch Chinese Mainland’s First Corporate PropTech Accelerator – “UrbanLab”
Named“UrbanLab”(城越), the initiative aims to foster and further develop promising tech companies in the dynamic Chinese PropTech ecosystem, with the goal of creating innovative technology solutions for the real estate industry.
19 July 2019, Shanghai – JLL, Swire Properties and Ping An Urban Tech jointly announced the official launch of Chinese Mainland’s first corporate accelerator programme that focuses on property technology (“PropTech”). Named “UrbanLab” (城越), the initiative aims to foster and further develop promising tech companies in the dynamic Chinese PropTech ecosystem, with the goal of creating innovative technology solutions for the real estate industry.
The launch ceremony was held at JLL’s office at HKRI Taikoo Hui in Shanghai. The event was officiated by senior management from all three companies including KK Fung, Chief Executive Officer, Greater China at JLL; Eddie Ng, Managing Director for East China at JLL; Guy Bradley, Chief Executive of Swire Properties; Don Taylor, Director of Office at Swire Properties; Baisong Wei, Chief Technology Officer at Ping An Urban Tech; and Hua Zhu, General Manager of Product Center at Ping An Urban Tech.
The renowned Ping An Cloud accelerator team will run the programme, and “UrbanLab” will select six to twelve mature PropTech startups. During the three-month programme, participants will have an opportunity to test and refine their products in the real-world environment – namely at Swire Properties’ two large-scale developments, 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.
The startups will be selected from JLL, Swire Properties and Ping An Group’s vast networks. In addition to being mentored by industry leaders and experts, who will help them enhance their solutions and explore how to scale up their products to the regional and international levels via long-term adoption, participants will have opportunities to connect with investors to discuss funding prospects.
KK Fung, Chief Executive Officer, Greater China at JLL said, “We recognise in our partners the same client-focused pioneering spirit to reshape the real estate industry as we have at JLL. This programme extends our PropTech efforts in the region, including the recent inaugural of ‘China Proptech Forum’ that we organised in both Beijing and Shanghai. 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.”
“We’re delighted to be working with two industry giants to help foster the next generation of entrepreneurs from the Chinese PropTech ecosystem through ‘UrbanLab’,” said Guy Bradley, Chief Executive of Swire Properties. “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.”
Wei Baisong, Chief Technology Officer at Ping An Urban Tech said, “We are providing an opportunity to urban innovators to test their solutions in Chinese Mainland, specifically technology solutions that can change the urban planning, real estate and infrastructure industries. With the spirit of a financial services firm, Ping An Urban Tech also hopes to find a model that can seamlessly integrate these technology solutions with its finance and technology ecosystems. 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.”
“UrbanLab” is now accepting applications until end of August. Tech startups based in Chinese Mainland with fully-functioning products and business models, and are trial and implementation-ready, are welcome to apply. Business proposal can be send to firstname.lastname@example.org .
JLL (NYSE: JLL) is a leading professional services firm that specialises in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
JLL’s website: www.joneslanglasalle.com.cn
About Swire Properties
Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Cityplaza and Pacific Place as its core holdings.
In Chinese Mainland, Swire Properties has five completed mixed-use developments in Beijing, Guangzhou, Chengdu and Shanghai, as well as one retail project in Qiantan, Shanghai currently under development. The Company’s attributable portfolio in Chinese Mainland amounts to around 9.4 million sq ft.
Swire Properties’ website: www.swireproperties.com
About Ping An Urban Tech
Ping An Urban Tech is a subsidiary of Ping An Group, the biggest insurance company in China. The firm is integrating technology into construction, operations and services in the real estate ecosystem. Ping An Urban-Tech created a digital backbone of city space by integrating city spatial and operational data to facilitate digitalized and visualized city planning, operations and management. Ping An Urban-Tech focuses on establishing a collaborative services platform by connecting the real estate industry with the government compliance, approval and services network to empower the entire value chain. As of December 31, 2018, Ping An Urban-Tech had signed smart city-related contracts with 50 cities, launched pilot projects in 20 cities, and developed three model cities in Shenzhen, Sanya, and Wuxi. Most recently, we helped Wuxi shortened its real estate registration processing time from 5 days to 1 hour.
Ping An Urban Tech’s website: https://www.pinganut.com/web/page/home.html