completionAsian property heavyweight Capitaland forms sustainability-linked credit facilityThe CapitaLand Group has signed an agreement (Mou) with Microsoft to utilize advanced technologies such as artificial intelligence (AI) for their businesses. By taking part in Microsoft Singapore’s AI Pinnacle Program, CapitaLand will have access to Microsoft’s platforms, services and solutions to improve customer engagement and efficiency.
One of the key focuses of the partnership will be collaboration opportunities in infrastructure development. CapitaLand Investment, a branch of the CapitaLand Group, is looking into utilizing Microsoft’s Azure cloud computing platform to develop their data center design and products. Additionally, they will be integrating AI, data analytics and machine learning to enhance their digital and business transformation efforts.
Quah Ley Hoon, group chief corporate officer of CapitaLand Investment, commented on the collaboration, saying, “Our partnership with Microsoft marks a significant milestone in CapitaLand’s digital transformation journey. AI will play a crucial role in shaping our future by driving operational efficiencies and creating value for our stakeholders.”
For international investors looking to invest in Singapore, it is crucial to familiarize oneself with the regulations and limitations surrounding property ownership in the country. While foreigners are typically able to buy condominiums with relatively few restrictions, the ownership rules for landed properties are more stringent. Additionally, foreign buyers must also adhere to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their first property purchase. Despite these extra expenses, many are drawn to the stability and growth potential of the Singapore real estate market, making it a desirable destination for foreign investment. In fact, there are numerous Singapore projects that continue to attract international investors.
In a separate agreement, CapitaLand Investment signed a memorandum of understanding with the Singapore Business Federation (SBF) to establish a framework for digitalization and integration of AI across their retail ecosystem. This initiative will involve the adoption and testing of AI, data analytics and cybersecurity solutions to improve business efficiency and competitiveness. They will also focus on developing AI-specific skills and expertise among their retail tenants.
The CapitaLand Group continues to make strides in their digital transformation journey, and these partnerships with Microsoft and SBF will be instrumental in their efforts to leverage advanced technologies and stay ahead of the curve in the constantly evolving business landscape.