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JLL study highlights property tech sector's growth potential in Asia-Pacific

A research study conducted by JLL is predicting that funding from the property technology sector, or proptech, in the Asia-Pacific region will reach US$4.5 billion in 2020.

The forecast comes after the study found that 60%, or US$4.8 billion, of the US$7.8 billion raised by proptech start-ups worldwide from 2013 to 2017 were channeled toward the region, with Greater China and India leading as the most favored markets.

According to Anthony Couse, JLL's CEO for Asia-Pacific, the findings of the study are an indication of proptech's potential in the region. Couse added that the next five years will be instrumental for the real estate industry as technology continues to transform businesses.

The US$4.5 billion expectation could become reality as more corporates and developers in Asia-Pacific incorporate proptech into their business mandates, JLL noted.

Capitalizing on the proptech trend, Thai developer Sansiri Public Co. Ltd. and and Singapore's CapitaLand Ltd. respectively launched Siri Ventures and C31 in 2016, vehicles which were both established to invest in proptech startups.