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We’re proud to announce the launch of our first smart building suite in Asia. Backed by Gaw Capital, the expansion brings Switch’s disruptive smart building platform to The Duo Tower & Duo Galleria —a 39-story premium Grade A office asset with ancillary retail at the heart of central Singapore.
The move is the next step in our mission to transform traditional commercial real estate into buildings of the future, utilizing cutting-edge technology to better manage buildings and serve their occupants.
Our smart platform integrates with traditional building systems as well as IoT technologies to analyze, automate and control assets in real-time. In April 2020, Switch announced a $5M Series A2 fundraising round with lead investor Gaw Capital, a private real estate and equity company with $23B under management, to fund our ongoing expansion into the Asian market.
For Bill Lee, Senior Director Technology and Infrastructure of Gaw Capital, the partnership was a perfect alignment of value and technological opportunity:
“It was a simple decision to use Switch Automation, because it makes sense financially. We brought one of our large buildings in the U.S. onto the Platform and found that the value created far exceeded the upfront investment. Right away, Switch delivered cost savings north of 20%. So, if we save $1M per year, our NOI increases by $1M – based on the cap rate, we increased the value of the building by $10M.
Not only are we driving cost savings and energy efficiencies but it also future-proofed the building, allowing us to integrate an infinite number of really interesting devices over time, like bio-threat sensors for example.”
Leading real estate companies are upscaling their tech and ensuring that their smart building teams can remotely control and optimize their buildings without having to set foot on site. Allianz Real Estate is the first company in Singapore to deploy the Switch Platform to optimize the Duo Tower & Duo Galleria, where they are using Switch Dx³ to integrate their building systems into one centralized view.
Switch Automation is seeking integration and engineering partners in Singapore and Hong Kong to help onboard large commercial buildings and prioritize and manage building and energy optimization opportunities. Switch is hiring local business development experts to scale their success from North America and Australia into the Asian market.
Switch CEO Deb Noller said the Asian expansion is a key part of the company’s strategy:
“We see a huge opportunity to own the smart building technology vertical in the APAC region, and to use our platform to help commercial real estate owners and developers improve their buildings and start to connect the offices and the infrastructure of the future. What we’ve built today, and what we’re bringing to the market in Singapore, is a world-leading smart building solution that will allow our users to understand their space like never before.”
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