Industry-first Collaboration with IMDA

2 October 2023

Industry-first Collaboration with IMDA

Singapore: Huttons Group is the first real estate agency to collaborate with IMDA Open Innovation Platform to launch its Innovation Challenge for 2023.

Huttons welcome new ideas and groundbreaking solutions to empower salespersons to conduct effective risk assessment for potential clients to determine their risk profile/appetite and thereafter, generate appropriate property recommendations based on the results. With these tools, salespersons can provide consumers with more personalised advice to help them achieve their property dreams.

Participants will have the opportunity to win $20,000 prize money, gain access to IMDA PIXEL Innovation Hub, tap into complimentary innovation consultancies, and co-innovate with Huttons. Companies are invited to submit their innovative proposals from 2 October to 10 November 2023 and apply here.

Mr Mark Yip, Chief Executive Officer of Huttons Group said, “As Singapore’s Largest Private Real Estate Agency, we are committed to continuous innovation and engagement of the community for transformation of the real estate industry. This industry-first initiative with IMDA Open Innovation Platform enables us to access local and global talents to co-develop novel solutions that will benefit more consumers in future.”

“With tech disrupting business models across various industries, IMDA is delighted to welcome Huttons Group onto our Open Innovation Platform. Through Huttons Group’s Innovation Challenge for 2023, we look forward to the development of AI-fuelled solutions that will improve the productivity of their property agents and empower them to provide a more personalised experience for their clients.” said Mr Justin Ang, Assistant Chief Executive of Singapore’s Infocomm Media Development Authority (IMDA).

The inaugural Huttons Innovation Challenge was also an industry-first initiative back in April 2022, which saw enthusiastic participation and quality submissions from the youths for the transformation of real estate. Participants explored topics such as the metaverse, smart, algorithm-based & AI technology, hybrid working arrangements affecting the demand in commercial and residential real estate and more.

The winners of Huttons Innovation Challenge 2022 received their recognition from Minister Desmond Lee in the finale. The 1st prize winners are a team of undergrads from NUS Business School, Department of Real Estate who walked away with $25,000 cash for their idea in sustainability through ‘URL’; Utility, Reliability and Liveability. The first and second runner-ups both tackled potential solutions for developers to leverage on the metaverse to market physical residential properties.

Earlier in June 2023, Huttons Group announced its Environmental, Social and Governance (ESG) framework across four key pillars; Contribute to Sustainability and Green City, Build Trust and a Meaningful Future, Enable AI & Digital Adoption, and Support the Community. Other green initiatives include recycling and upcycling of materials and gadgets in the office through collaboration with CPF at CPF Bishan building.

Huttons also raised almost $120,000 for Children’s Cancer Foundation in their December 2021 charity drive, and has been supporting numerous initiatives such as the Singapore’s OneMillionTrees movement under Nparks since August 2022, NKF Race Inspired 2023, Roxy Foundation Charity Car Wash 2023, and other charity golf events to go the extra mile for society.

Mr Yip added, “We will continue to invest in technology so that our associates can provide prompt and professional assistance at every touchpoint, and go the extra mile to deliver a high level of client satisfaction with their next dream home or investment property. With our clear and forward-looking direction to reach 6,000 associates by end-2024, we will continue to build on our momentum to make a positive impact in people’s lives.” Mr Yip concludes.

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For further information, please contact:
Lee Sze Teck, Senior Director of Data Analytics, Singapore
Tel: +65 9183 6367 | [email protected]

Shermaine Tay, Assistant Director, Head of Marketing and Communications, Singapore
Tel: +65 9127 7101 | [email protected]