Press Release

CBRE Strengthens Partnership with Negawatt Utility

This collaboration will empower landlords to improve building efficiencies and drive tenancy experiences via prop-tech for a net-zero future.

September 22, 2022

Hong Kong, 21 September 2022 – CBRE Hong Kong announced today that it is teaming up with the prop-tech company Negawatt Utility Limited, to empower landlords in Hong Kong to enhance building operational efficiency through a full spectrum of energy-saving tools and consultancy services from Negawatt. 

The strategic partnership comes at a time when sustainability is becoming more important, especially with buildings accounting for 90% of electricity consumption and over 60% of carbon emissions in Hong Kong. Commercial buildings even contribute more than 75% of total emissions1. Landlords and developers are ramping up efforts to lower their carbon footprint, transforming their buildings into smarter and more sustainable assets. 

Under the partnership, landlords and occupiers can access Negawatt's proprietary Building OS through CBRE’s network. This is a web-based platform designed to combine innovative technology with specific building services knowledge and user experiences from both landlords and tenants. With the use of IoT, data analytics and AI, landlords can understand energy usage and daily maintenance work, and receive intelligence and advice to manage carbon emissions and optimise the operational efficiency of buildings. All of this will help them achieve their own ESG goals while also offering a tailored property experience to their tenants. 

“We are seeing a growing sustainability demand from our landlords as more than 70 countries around the world are committed to the net-zero emissions target by 2050 stipulated in the Paris Agreement. CBRE, as the first Fortune 500 commercial real estate services company to secure the Property Management Company License in Hong Kong, has been spearheading ESG-related improvements for our clients, especially in the area of Green certification,” said Thomas Lam, Head of Property Management at CBRE Hong Kong. “We are excited about our collaboration with the prop-tech expert Negawatt. Through this partnership, we are proactively realising our vision, of building a more sustainable built environment and creating customised tenancy experiences, working alongside our clients and their tenants, for a greener future in Hong Kong.”

“Our collaboration with CBRE is a remarkable milestone for Negawatt as we are able to connect with CBRE’s extensive network in the real estate industry. With ESG and green leasing becoming increasingly important for corporates, we look forward to working alongside CBRE to help landlords and tenants embark on or advance their ESG journey via our three-step approach of digitization, digitalization and digital transformation,” said Arthur Lam, CEO of Negawatt. “I am confident that with our commitment and market-leading solutions, we will help landlords and tenants save energy and operational costs, as well as meet their respective ESG targets. More importantly, our digital platform will assist CBRE in creating a collaborative community between landlords, tenants and property managers, contributing to the vision of making Hong Kong a net-zero city.”


Strategic Partnership Signing Ceremony between CBRE Property Management and Negawatt at CBRE’s office at One Pacific Place 


Officiating Guests (From left to right)
Thomas Lam, Head of Property Management, CBRE Hong Kong
Tom Gaffney, Regional Managing Director, CBRE Hong Kong
Arthur Lam, CEO of Negawatt
Jason Lam, CTO of Negawatt


1 https://www.hk2050isnow.org/building-efficiency/


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DISCLAIMER:
Neither CBRE nor its affiliated companies make any warranties or claims on the express or implied accuracy of the information contained herein. All information contained herein, including projections, has been obtained from materials and sources which we believe to be reliable at the date of publication but which we have not verified its accuracy and make no guarantee, warranty or representation about it., and is not to be used or considered as an offer or the solicitation of an offer to sell or buy or subscribe for securities or other financial instruments. Readers are responsible for independently assessing the relevance, accuracy, completeness and currency of the information of this report. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. You are advised to conduct your own assessment, property inspection and measurement, and/or seek advices from your independent professional advisors. CBRE shall not be liable for any loss, damage, cost or expense incurred or arising by reason of any person using or relying on information in this report. All rights to the materials are expressly reserved and none of the materials, nor their content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party without the prior express written permission of CBRE. For any information of or relating to floor area, readers should note that there is no standardized or commonly adopted definition of any description of floor area in the market for non-residential properties. 

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 105,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com

About Negawatt
Negawatt is a property/engineering tech company specializes in building digital transformation to make building intelligent, sustainable, energy efficient, competitive, which increases property value. As a virtual engineer, Negawatt Building Operating System (BOS) is a cloud based software platform with artificial intelligence designed to collect, manage, and analyze all building information under one platform - increase building operator’s productivity and optimize resources management for building excellence.