[Kuala Lumpur, Malaysia – June 21, 2023] – Permodalan Negeri Selangor Berhad (PNSB) and Malaysia PropTech Association (MPA) are pleased to announce the signing of a Memorandum of Understanding (MoU) aimed at accelerating the digital transformation of the built environment in the state of Selangor and beyond.
Permodalan Negeri Selangor Berhad (PNSB) and Malaysia PropTech Association (MPA) Join Forces to Drive Digital Transformation in Selangor’s Built Environment
Selangor State Government
PNSB, a Selangor State Government subsidiary, governed by Menteri Besar Selangor (Incorporated) or MBI, plays a pivotal role in driving economic growth and development within the state. With a strong focus on fostering sustainable investments, PNSB has continuously sought strategic partnerships to catalyze innovation and enhance the competitiveness of Selangor’s business ecosystem through its subsidiary, PNSB Innovation Ventures Sdn Bhd (PIV).
MPA, on the other hand, is a leading industry association representing more than 100 proptech start-ups, dedicated to advancing the adoption of technology in the real estate sector. Through collaboration, knowledge sharing, and advocacy, MPA has been instrumental in propelling the digital transformation of the property industry in Malaysia, paving the way for increased efficiency, transparency, and innovation.
The MoU between PNSB and MPA solidifies their commitment to leveraging their respective strengths and resources to drive digital transformation in Selangor’s built environment. This strategic collaboration aims to:
- Foster Innovation: By combining PNSB’s experience in investment and development with MPA’s expertise in proptech (property technology), the partnership will create an environment conducive to innovation and the adoption of cutting-edge technologies. This will drive the development of smart cities, sustainable infrastructure, and advanced real estate solutions in Selangor.
- Support Startups and SMEs: PNSB and MPA will collaborate to provide financial and non-financial support to startups and small and medium-sized enterprises (SMEs) in the proptech ecosystem. This assistance will facilitate their growth, encourage entrepreneurship, and contribute to the expansion of Selangor’s digital economy.
- Promote Collaboration and Knowledge Sharing: The partnership will facilitate collaborative initiatives, including industry forums, seminars, and workshops, to foster knowledge exchange and best practices in the digital transformation of the built environment. By bringing together stakeholders from academia, government, industry, and technology providers, PNSB and MPA aim to create a thriving ecosystem that drives innovation and collaboration.
President of Malaysia PropTech Association
Dr. Daniele Gambero, President of Malaysia PropTech Association, expressed his enthusiasm about the partnership, stating, “This MoU represents a significant step forward in our mission to drive digital transformation in the real estate sector. By collaborating with PNSB, we can leverage their expertise and resources to further accelerate the adoption of proptech solutions in Selangor and beyond. We are confident that this partnership will unlock tremendous opportunities and contribute to the sustainable development of the built environment.”
PNSB, through this collaboration, reinforces its commitment to promoting digitalization and innovation as catalysts for economic growth. Mr. Raja Ahmad Shahrir Iskandar bin Raja Salim, CEO of Permodalan Negeri Selangor Berhad, stated, “We are delighted to partner with Malaysia PropTech Association in our shared mission to drive digital transformation in Selangor. This collaboration aligns with our vision of fostering sustainable investments and creating a vibrant digital ecosystem in the state. Together, we can revolutionize the built environment and shape the future of Selangor.”
The MoU between PNSB and MPA marks a significant milestone in the digital transformation journey of Selangor’s built environment. By harnessing the power of technology, innovation, and collaboration, this partnership aims to position Selangor as a leading hub for proptech advancements and sustainable development in the region.
ABOUT PNSB INNOVATION VENTURES SDN BHD (PNSB)
PNSB Innovation Ventures Sdn Bhd (PIV), is a wholly owned subsidiary of Permodalan Negeri Selangor Berhad (PNSB), to lead and explore venture capital businesses for the State of Selangor. It is the first state-backed venture capital company in Malaysia with full support by the Selangor State government. PIV was established with the aim to spur up the venture capital – startup ecosystem especially within the state, in line with PNSB’s strategy to diversify sources of income through new business areas.
ABOUT MALAYSIA PROPTECH ASSOCIATION (MPA)
Malaysia PropTech Association (MPA), registered with ROS since 2017, is a vibrant community of Proptech Startups , professionals, entrepreneurs, and enthusiasts passionate about driving innovation in the real estate industry. With a focus on developing soft-hard technologies related to the built environment and construction industry, technology adoption, collaboration, and knowledge exchange, MPA serves as a platform for fostering growth and driving positive change within the Real Estate Industry in Malaysia and beyond.