ASTRI Establishes the ConTech and PropTech Alliance

Driving I&T Adoption for Boosting Efficiency, Quality and Safety

HONG KONG, July 8, 2024 /PRNewswire/ -- The Hong Kong Applied Science and Technology Research Institute (ASTRI) organised the inauguration ceremony for the "ConTech and PropTech Alliance" today. This initiative aims to promote the adoption of advanced technologies and solutions to enhance construction efficiency, quality, and safety, thereby accelerating industry development. The ceremony was officiated by Ms Winnie Ho, Secretary for Housing of the HKSAR Government, along with Ir Sunny Lee, Chairman of ASTRI and Dr Denis Yip, Chief Executive Officer of ASTRI. 

Enhance Speed, Efficiency, Quantity and Quality

Reaffirming the commitment to advancing smart construction through technology, Ms Winnie Ho expressed hope for transforming industry challenges into opportunities for cross-sector collaboration between technology and construction. She highlighted the HKSAR Government's proactive integration of innovative technologies into the construction and management of public housing for better well-being of residents. "We are collaborating with various organisations, including ASTRI, to research technologies that can further enhance 'Modular Integrated Construction' (MiC) and 'Multi-trade Integrated Mechanical, Electrical and Plumbing' (MiMEP) methods, achieving the goals of 'enhancing speed, efficiency, quantity and quality' in public housing development."

She added that ASTRI's ConTech and PropTech Alliance, brings together representatives from universities, research institutes and the industry, fostering innovation and collaboration among these sectors, and encouraging industry upgrades and transformation through cutting-edge technology integration.

Develop "New Quality Productive Forces" in Construction Industry

Ir Sunny Lee noted that the construction and real estate sector is one of the pillars of Hong Kong's economy, contributing significantly to local GDP. The industry's expertise in building high-quality and high-density structures is widely-recognised, demonstrating top-notch professionalism. Nonetheless, the sector has been facing numerous challenges in recent years, including high construction costs, an aging workforce, and frequent accidents.

He stated, "We are confident that advanced innovative technologies can help the industry change the status quo, effectively reduce construction costs, improve efficiency, and enhance site safety, expediting the construction industry's development of 'New Quality Productive Forces'. With major projects estimated to cost HK$300 billion per year over the next decade, the industry can seize high-growth opportunities by leveraging technologies to boost productivity and capability."

Alliance Promotes Smart Construction 
Dr Denis Yip underscored that the Alliance is creating a comprehensive ecosystem that includes representatives from government and regulatory bodies, academic and research institutions, construction industry stakeholders, real estate market participants, technology providers and industry organisations.  This robust ecosystem aims to revolutionalise traditional construction and property management processes, enhance construction efficiency and safety, and support Hong Kong's progression towards becoming a smart city.

Dr Yip commented, "ASTRI is committed to developing 'Deep Tech for Smart Solutions'. Our construction technologies are highly developed, and we have collaborated with various government departments and public and private organisations, including the Housing Bureau and MTR Corporation. Many of our technologies are already being applied in the field." ASTRI has just inked a collaboration agreement with the Hong Kong Housing Society (HKIS) and Hip Hing Construction. Under the agreement, Hip Hing Construction will implement ASTRI's innovative technologies in HKIS's projects to enhance efficiency and safety.

ASTRI's key technologies for the construction and real estate industries include:

Industry Leaders Share Insights

Two panel discussion sessions were held at the meeting, inviting industry leaders and experts to share insights on construction safety and sustainability, as well as the future of PropTech innovation.

The first session, titled "Building Safety and Sustainability: Harnessing the Power of ConTech and PropTech" was moderated by Mr Wilfred Wong, Board Member of ASTRI. Panellists included: Dr Sherman Yip, Assistant Director (Development & Procurement), Housing Department;  Ir Franco Cheung, Director (Projects), Hong Kong Housing Society; Mr Alex Ho, Director (Industry Development), Construction Industry Council; Professor Anthony Yeh, Acting Dean, Faculty of Architecture & Chair Professor, Department of Urban Planning and Design, The University of Hong Kong, and Ms Natasha Ho, President, China Real Estate Chamber of Commerce Hong Kong and International Chapter (CRECCHKI).

The second session, "The Way Forward: Hong Kong PropTech Innovation and Market Outlook", was hosted by Ir Andrew Young, Associate Director (Innovation), Sino Group and Co-chair, Hong Kong PropTech Alliance.  Speakers include Mr Kent Jan, Director & Head of Digital Transformation & Innovation, Hongkong Land and Co-chair, Hong Kong PropTech Alliance; Mr Ben Fung, Senior Associate Director (Information Technology and Solutions), Chinachem Group, and Ms Akina Ho, Venture Partner, Asia for Pi Labs.

ConTech and PropTech Alliance: https://cpta.astri.org 

About ASTRI

Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong's competitiveness through applied research. ASTRI's core R&D competence in various areas is grouped under five Technology Divisions: Advanced Electronic Components and Systems; Artificial Intelligence and Trust Technologies; Communications Technologies; Innovative Mind, and IoT Sensing and AI Technologies. It is applied across six core areas which are Smart City, Financial Technologies, New-Industrialisation and Intelligent Manufacturing, Digital Health, Application Specific Integrated Circuits and Metaverse.

Over the years, ASTRI has nurtured a pool of research, I&T talents and received numerous international awards for its pioneering innovations as well as outstanding business and community contributions. ASTRI has transferred 1,500 technologies to the industry and has been granted over 1,100 patents in the Mainland, the United States, and other countries. For further information, please visit www.astri.org

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

ASTRI Establishes the ConTech and PropTech Alliance

ASTRI Establishes the ConTech and PropTech Alliance

ASTRI Establishes the ConTech and PropTech Alliance

RIYADH, Saudi Arabia, Oct. 5, 2024 /PRNewswire/ --The Literature, Publishing & Translation Commission, part of the Saudi Ministry of Culture, has revealed that the Riyadh Book Fair 2024 is its largest edition yet, featuring a diverse range of translated international books. With more than 2,000 local, Arab, and international publishers participating, the Fair has strengthened its position as a leading cultural event in the Arab world. This year's edition promotes Saudi Arabia's cultural openness and supports the spread of cross-border knowledge.

The 2024 Fair edition stands out for hosting renowned thinkers, intellectuals, and global figures in literature, art, and knowledge who share their insights and success stories with the public. Among the key speakers are Fareed Zakaria, acclaimed media personality and author; Walter Isaacson, world-renowned biographer; poet and writer Kwame Alexander; and acclaimed novelist Jonathan Franzen. The Fair also features prominent literary and artistic figures from the Middle East.

Dr Mohammed Hasan Alwan, CEO of the Literature, Publishing & Translation Commission, emphasised the significance of the Fair, stating: "The Riyadh International Book Fair is not only one of the most important book fairs in the Arab region but also a premier platform for publishers and authors to expand their reach in the Arab cultural market. This year's edition is especially notable for its focus on cultural diversity and translation, with an exceptional programme featuring some of the world's leading intellectuals."

During his visit, His Excellency Chang Hua, the Chinese Ambassador to Saudi Arabia, expressed admiration for the Saudi public's enthusiasm for reading. CNN's Fareed Zakaria praised the Kingdom's remarkable transformation and its growing global influence.

This year also marks the return of the popular "Riyadh Reads French" initiative, featuring several French publishers. Al-Saeed Ezz, Communication Officer at the French Embassy, noted that this year's programme has expanded to include children's activities and free French language courses in collaboration with the French Cultural Institute, bringing French culture closer to Saudi visitors.

The Riyadh International Book Fair plays a key role in supporting Saudi Vision 2030's cultural goals, contributing to the Kingdom's cultural economy, projected to reach $9.3 billion. Attracting over one million visitors annually, it ranks among the highest-selling book fairs in the Arab world.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Riyadh International Book Fair 2024: Expanding Global Dialogue through the Largest Collection of Translated Works