On 31 March 2023, WiredScore launched in Thailand and marked one year since we launched in Asia. Tommy Crowley, WiredScore’s Global Director of APAC, looks back on the year so far, the impact WiredScore has had, and what we can expect in the future.
What have been the most exciting parts of the past year, since WiredScore first launched in Asia?
For me, there have been three major highlights of the last year. The first has been the opportunity to work with over 45 leading landlords and developers across our APAC markets including Hong Kong, Singapore and now Thailand. This includes names like Frasers’ Properties, Swire Properties, Sun Hung Kai, The GPT Group and CharterHall. Secondly, we both hit and exceeded 60 million sq. ft. of real estate certified or under certification in Asia. One Bangkok (Thailand), The Henderson (Hong Kong) and Central Boulevard (Singapore) are just a few buildings which have contributed to this impressive number. Finally, it has been a joy to grow and develop our WiredScore team in the region, as well as our network of 114 Accredited Professionals.
What is your takeaway from our recent research report, “Investing in the future: exploring the cost of technical obsolescence”?
The major theme that comes out of this report is the importance of asset resiliency and reducing the risk of an asset becoming obsolete.. 95% of investors in APAC believe it’s important to have a recognized certification to prove a building’s ongoing resilience. Investors are looking for reassurance that a commercial office asset will continue to deliver good returns, supported by low vacancies, high rents, and tenants with good covenants. Digital infrastructure and smart technologies are increasingly key factors investors look for, alongside sustainability characteristics, for reassurance that the asset will be able to attract high quality tenants and command good rents. They are guided by external certifications to feel confident in this.
What impact has WiredScore already made in Asia?
Our partnerships in Asia with leading names such as Swire Properties and Frasers Property mean that we have been involved in the certification of over 150 buildings. We are helping the landlords, owners, and developers of these assets benchmark where they are today and improve their digital capabilities, as well as providing a framework for their smart building journey. Just as importantly, we are supporting them to communicate what they’ve done, both to occupiers who are looking for their next space to lease, and to investors who are deciding where to place their funds.
What do you hope WiredScore will achieve in APAC in the next five years?
I hope that we are able to do two main things over the next five years. The first: continuing our mission to guide and educate the industry on the importance of digital technologies as key enablers for improving user outcomes in buildings and reducing the carbon footprint of the built environment. The second: further expanding our geographic presence and our WiredScore team within the region.
The past year has been exciting, energizing, and impactful and I am excited to lead WiredScore onto even bigger and better things in the future.