Hitachi reached an agreement with TCC group company Frasers Property, marking its first comprehensive collaboration in the urban development segment. Hitachi's internet of things platform Lumada will analyze data to optimize Frasers' existing and future buildings for energy use and crowd efficiency. The developments are mostly located in Southeast Asia, Australia and China.
The two sides also agreed to jointly spend 100 million Singapore dollars (US$ 73 million) over five years to develop control systems and other tech dedicated to Frasers.
"Hitachi's digital technology will increase the value Frasers' assets, and we'll move forward with 'infrastructure as a service,' the next generation in urban development," said Hitachi President Toshiaki Higashihara.
Lumada's artificial intelligence, for example, will analyze building traffic and use the results to shorten elevator wait times. The AI will direct foot traffic in a way that prevents crowding in the first place.
In addition, sensors affixed to principal equipment will assist Lumada in predicting breakdowns, which will streamline maintenance. Room temperatures will be adjusted to match the number of people in the building, saving energy.
Listed in Singapore, Frasers holds a portfolio worth S$33.6 billion as of the end of June. Properties include residential homes, hotels and shopping centers.
Frasers is a major participant in the One Bangkok project, Thailand's biggest private redevelopment project slated for completion in 2026. The massive 167,000 sq.-meter site will hold office and residential buildings, a shopping center and hotels.
An estimated 200,000 people are expected to visit One Bangkok each day. Hitachi and Frasers aim to transform the project into a smart city.
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