Our NUS Real Estate undergraduate team comprising final year students Estelle Ho, Koh Kai Hong, Tee Xiao Wei, Teo Jia Rong and Kelly Tong put on a stellar performance at the recent Huttons Innovation Challenge and came in tops, winning $25,000 in cash prizes presented to them by Minister for National Development Mr Desmond Lee. The annual event focuses on finding sustainable solutions in real estate.
Real Estate Students Shine in 2022 Huttons Innovation Challenge
Winning team posing proudly next to Minister for National Development, Mr Desmond Lee, with their champions plaques and mock cheque.
This was an exceptional achievement for the team, it being their first attempt at a case competition. They were first drawn to the competition because of its relevance to their field of study. Coming together as a team came quite naturally as well, after working together on past projects, and establishing high levels of mutual trust and understanding.
Tackling the challenge head on
The team got to pick from a selection of challenge statements, and right away the fourth one, “How will sustainability influence the design of future residential developments?” stood out to them, because of the focus on housing, a topic very close to all their hearts. The team swung into immediate action, dissecting the statement and categorised their tasks into background research, analysis of current residential trends, and identifying the latest green technologies and innovative designs of sustainable developments. They also simulated their stakeholders’ perspectives to gain a deeper understanding of the issues and challenges to better consider the potential cost, benefits and business value of sustainable designs. The team also came up with a smart acronym to as a catchy guide for future residential developments – “The URL to Sustainability”: U for “Utility”, R for “Reliability” and L for “Liveability”.
The true value of winning
While winning the championship was undoubtedly exhilarating, the team gained something even more lasting and valuable – a deeper working camaraderie, and deeper understanding of sustainability.
“It is not just about being green, energy-saving or cost-saving. It is also about long-term feasibility. It is also of paramount importance to understand the needs and priorities of residents. Beyond considering the benefits of green features, it is crucial to ensure the liveability of these integrated technologies so as to not compromise on quality of life for residents. The ideas that we proposed not only can influence the design of a development, but also impact the way people live their lives.”