WiredScore, a provider of digital connectivity ratings for real estate, opened its first Asia Pacific office in Singapore on Wednesday as part of a global expansion plan.
The office at MYP Centre in Raffles Place will serve as the APAC headquarters for New York-based WiredScore, which in February appointed an executive team to lead the regional branch.
Asia Pacific is an important growth market for WiredScore in light of rising tenant expectations for smarter, greener and safer buildings, APAC global director Thomasin Crowley said in a release.
“Embarking on this journey in Singapore specifically, we hope to help cement its status as a leader of innovation in the built environment,” Crowley said.
Sizing Up the Buildings
WiredScore’s job is to evaluate and offer improvements for digital connectivity and smart technology within buildings. The company has two certifications: WiredScore and SmartScore.
WiredScore is the global digital connectivity rating scheme, under which the firm works with landlords to assess, improve, benchmark and promote their buildings. SmartScore defines what smart buildings are and helps landlords to understand, improve and communicate the user functionality and technological foundations of their assets.
Founded in 2013 by chief executive Arie Barendrecht with the support of New York’s mayor at the time, Michael Bloomberg, WiredScore two years later won the concession for the Greater London Authority’s digital connectivity rating scheme, leading the company to launch in the UK.
Today the firm counts 800 million square feet (74.3 million square metres) committed to WiredScore certification, with 8 million people living and working in buildings under the standard in 24 countries.
According to WiredScore’s just-released report, Smart Nation: The Technology Transforming Commercial Real Estate, smart technology is so embedded into everyday life in Singapore that 85 percent of decision-makers will not sign a lease for an office building that is not smart-enabled.
WiredScore also found that more than 90 percent of survey respondents in Singapore would pay a rental premium to work in a smart building.
Anne Tng, director of business development for WiredScore in APAC, said commercial tenants increasingly want assurance that their office building can meet their evolving needs and are turning towards landlords who recognise the importance of incorporating smart technologies in their buildings.
“Our survey findings showcase just that: landlords who capitalise on this opportunity and provide a superior level of user experience through smart buildings can expect tenants to renew their lease faster and pay a premium,” Tng said.
The study also found a strong appetite for sustainability: 21 percent of decision-makers in Singapore and Hong Kong said they considered working in a sustainable building to be the main factor when choosing a new office.
Note: This story has been updated with the location of WiredScore’s Singapore office.