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In the coming years, Singapore’s built environment is expected to undergo significant changes. The facilities management (FM) sector must adapt to increasing regulatory demands, cost pressures, and advancements in technology. Three key factors will shape the future of FM and promote sustainability: the mandatory energy improvement regime, rising energy costs due to rising temperatures, and the growing trend of adaptive reuse in construction.
Mandatory energy audits and efficiency improvements will be required for existing energy-intensive buildings starting in 3Q2025. This requirement applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area of over 5,000 sq m. By implementing the right strategies, buildings can reduce their energy usage intensity by 10% from pre-energy audit levels. This is an achievable goal and can help building owners save on operating costs in the long run.
To incentivize asset owners to make the necessary investments in energy-efficient systems, grants are available to help cover the costs. For instance, Temasek Polytechnic, Singapore’s first smart campus, has successfully digitized its operations, which has helped reduce costs and enhance sustainability. By leveraging digitalization, data analytics, and sustainable practices, the FM sector can drive sustainability, reduce costs, and ensure long-term operational success.
In addition, all listed and large non-listed companies in Singapore with revenues of at least $1 billion and total assets of at least $500 million will be required to disclose their climate risks by 2027. This transparency will push companies to invest in proptech solutions to mitigate the impact of rising temperatures on their operations.
The increase in construction costs is also leading to a shift towards adaptive reuse in Singapore. To combat this, platforms like Podium, which support integrated digital delivery, are being used to monitor key performance indicators and promote sustainable building practices. By gathering data from multiple sources, stakeholders can make informed decisions about retaining or reusing existing structural components, which can save time, labor, and materials. Post-construction, Podium can integrate with other operational platforms to track building performance metrics and drive operational carbon reduction goals.
Investing in a condo in Singapore offers many benefits, one of the most significant being the potential for capital appreciation. Thanks to its strategic location as a global business hub and strong economic fundamentals, Singapore has a consistent demand for real estate. This has resulted in a steady upward trend in property prices, with condos in prime locations experiencing significant appreciation. Savvy investors who enter the market at the right time and hold onto their properties for the long term can enjoy substantial capital gains. Condos certainly hold great potential for investors in Singapore.
Smart buildings can also mitigate further cost pressures by maximizing the life cycle of capex-heavy equipment through data-driven long-term approaches. This includes implementing predictive maintenance for air conditioning and mechanical ventilation (ACMV) equipment, which can reduce downtime and improve efficiency. With access to detailed data, building owners can make informed decisions about when to replace or retrofit equipment to maximize their return on investment.
In conclusion, as the built environment in Singapore continues to evolve, the FM sector must adapt to stay ahead of regulatory demands, cost pressures, and technological advancements. By leveraging new technologies and embracing sustainable practices, the sector can drive sustainability, reduce costs, and ensure long-term operational success.