UrbanLab Embarks on a Global Journey with New Member MTR Lab

Shanghai, 26 November 2024 – Today UrbanLab, China's leading enterprise alliance focusing on technology and innovation in the real estate sector, announced that MTR Lab Company Limited (“MTR Lab”) a wholly owned subsidiary of MTR Corporation Limited, officially joined the alliance. As an innovation investor and a collaborative platform, MTR Lab is committed to co-creating a carbon-neutral smart community. It supports the “bringing in and going out” strategy to foster innovative development, and aims to contribute to achieving the “dual carbon” goal and drive sustainable urban development through strategic investments.

Through joining UrbanLab, MTR Lab can have access to a robust network of high-quality technology start-ups in mainland China to explore potential technology projects and identify investment opportunities relating to PropTech and smart city solutions, while facilitating the international expansion of mainland Chinese enterprises. At the same time, UrbanLab will assist MTR Lab to penetrate into the mainland China market. By commercialising innovations through business model validation and pilot projects, it can accelerate the application of innovations and promote the advancement of PropTech in mainland China.

MTR Lab aspires to create strategic value through investment in technologies. It also provides global insights and fosters collaborations, facilitating start-ups in market expansion and supporting technology research and development to advance smart city development and sustainability in the long run.

Established in 2019 by JLL and its industry partners, UrbanLab's mission is to identify and nurture PropTech start-ups and drive industry-technology integration. Over the past five years, UrbanLab has brought together leading alliance members, including JLL, Swire Properties, Shui On Xintiandi, Goodman Group, Saint-Gobain Group, and New World Development. This network encompasses over 40 high-quality technology start-ups and a thriving PropTech ecosystem that includes corporations, technology start-ups, innovation platforms, investors, research institutes, and cross-border technology innovators. In 2024, UrbanLab unveiled two key themes on "zero-carbon buildings" and "new-quality space", ready to embark on a global initiative to accelerate the adoption of innovative technologies across the real estate industry.

As the newest member of UrbanLab, MTR Lab brings its strategic investment focus on smart city development and sustainability to the community, supporting start-ups in their research and market expansion endeavours. MTR Lab also participated in the "UrbanLab X HKPTA China PropTech Start-up Expedition" event soon after joining UrbanLab, acting as an advisor to technology start-ups and facilitating their connections with the Hong Kong technology ecosystem, as well as providing guidance on international expansion. MTR Lab's participation strengthens the UrbanLab ecosystem by providing connections to wider global resources and partnership opportunities. Both parties will further collaborate on green technology, smart cities, and other areas to co-create a smarter, greener future.

Anny Zhang, CEO of JLL China, said, "As a founding member of UrbanLab, an initiator and a leader in China's PropTech area, JLL looks forward to joining hands with more like-minded partners. By leveraging technology, we are committed to driving transformative change and fostering sustainable growth in future cities."

Michael Chan, Managing Director of MTR Lab, said, "PropTech is pivotal to achieving carbon neutrality and sustainability. It’s also one of MTR Lab’s core sectors. Through strategic investments, we aim to advance smart city development and improve living environments. We aim to foster impactful innovation and assist the real estate and construction industries in reducing their carbon footprint and accelerating digital transformation."

Open collaboration is intrinsic to the development of scientific and technological innovation and an inevitable path to addressing global challenges. As more global enterprises, institutions, and investors join the UrbanLab ecosystem, it will help shape a smarter, greener future by unleashing the potential of PropTech for greater success.

As the newest member of UrbanLab, MTR Lab participated in the “UrbanLab X HKPTA China PropTech Start-up Expedition” where representatives from MTR Lab and other UrbanLab members, along with other PropTech ecosystem partners, served as panel advisors to guide Mainland China start-ups on their international growth strategies.

UrbanLab is one of China’s leading enterprise alliances focusing on technology & innovation of real estate, led by JLL, Swire Properties, Shui On Xintiandi, Goodman, Saint Gobain, New World Development, and MTR Lab. In this alliance, we aim to explore and cultivate technology and unleash the power of innovation to reimagine the industry.

Since pioneering China’s first PropTech Accelerator in 2019, we are proud to have withstood the test of time, to become a beacon of inspiration for enterprise transformation everywhere. For five years we have run on a collaboration model where industry peers and like-minded corporate partners come together to drive technology and innovation for real business impact.

MTR Lab Company Limited (“MTR Lab”) is a wholly owned subsidiary of MTR Corporation Limited. MTR Lab creates strategic value through investment in technologies and formulates innovative solutions that support the long-term growth of communities. With a commitment to co-creating a smarter, greener future, MTR Lab aims to benefit communities by investing in and introducing technologies across different sectors, including mobility (MaaS, new mobility modes, rail tech), new retail technology, property and construction technology, and financial and data services, driving positive impact within two overarching themes: smart city and sustainability. Its unique position as an innovation investor enables MTR Lab and its partners to strategically collaborate toward creating a carbon-neutral smart community. Together, let’s Keep Cities Moving!