completionSol Acres en bloc fails to garner bids of more than $849 million”Mou” Inked between Microsoft and Capitaland Group to Implement Advanced Technologies
Microsoft and CapitaLand Group have entered into a partnership by signing a Memorandum of Understanding (MOU) to harness artificial intelligence and advanced technologies for their businesses. This collaboration will allow CapitaLand to join Microsoft Singapore’s AI Pinnacle Program, giving them access to various platforms, services, and solutions offered by Microsoft. The goal of this partnership is to enhance customer engagement and improve operational efficiency across CapitaLand’s funds, investments, retail, lodging, and development businesses.
As part of the agreement, the two companies will work together to identify potential collaboration areas in infrastructure development. This includes leveraging Microsoft’s Azure cloud computing platform to design and build data centers for CapitaLand Investment. Additionally, the integration of AI, data analytics, and machine learning will be explored to strengthen CapitaLand’s digital transformation efforts.
Quah Ley Hoon, CapitaLand Investment’s Group Chief Corporate Officer, says, “Our collaboration with Microsoft is a significant step in CapitaLand’s digital transformation journey. AI will play a pivotal role in shaping our future, driving operational efficiencies and creating value for our stakeholders.”
In addition, CapitaLand Investment (CLI), the real asset management arm of CapitaLand, has also signed an MOU with the Singapore Business Federation (SBF). This MOU will establish a framework for the digitalization and integration of AI across CLI’s retail ecosystem. The collaboration will help facilitate the adoption and proof of concept for AI, data analytics, and cybersecurity solutions to enhance business efficiency and competitiveness. It will also focus on developing AI-focused competencies and skills among retail tenants.
The news of this partnership comes after Capitaland Investment’s recent acquisition of three properties in Singapore and Thailand. The company is also expected to announce a significant decline in its PATMI (profit after tax and minority interests) while maintaining stable cash flow. Additionally, the last remaining penthouse at One Pearl Bank has been sold, reaching 100% sale completion for the development. However, the en bloc sale of Sol Acres failed to attract bids of more than $849 million. With this new MOU, Capitaland Group is looking to further strengthen its digitalization efforts and stay ahead in the competitive real estate industry.