Tuya Smart Announces Partnership With Centurion to Promote Smart Living Experience in Global Rental Market

HANGZHOU,China,May 16,2023 --Tuya Smart (NYSE: TUYA,HKEX: 2391),a global IoT development platform service provider,and Centurion Corporation Limited (SGX: OU8,SEHK: 6090),a multinational real estate development company,announced a partnership to promote smart home technologies in the global rental market. The parties also aim to deploy IoT solutions to promote ESG and create a greener and more user-friendly rental environment.

Established in the Specialized Accommodation business since 2011,Centurion owns,develops and manages worker accommodation assets in Singapore and Malaysia under the "Westlite" brand,and student accommodation assets in Australia,the United Kingdom and the United States under the "dwell" brand.

Prior to the partnership,Centurion had already begun to deploy Tuya Residential SaaS to effectively build a visualized and smart energy consumption system while renovating two student dormitories in Manchester and Liverpool,England.

The deployment is a core initiative in the company's efforts in Environmental Sustainability,wherein Centurion aims to progressively implement comprehensive smart facility management features and systems within in its existing assets and development properties,to enhance resident living experience and reduce consumption and emissions.

Through the partnership,Tuya Residential SaaS will provide Centurion with professional and diversified smart solutions,such as smart access management solutions and energy consumption management solutions. They can reduce energy consumption and improve management efficiency,enabling the company to realize its ESG goals of promoting "green and low-carbon" lifestyles,"green buildings" and "smart buildings." Additionally,both parties will strengthen their relationship to explore new business opportunities in the global rental market.

Also under the partnership,dwell,the student apartment brand of Centurion,will develop its own digital key access system for its properties using Tuya Residential SaaS. This can eliminate operational needs arising from lost keys or access cards,enhance security,and bring convenience to tenants. Through this agreement,Centurion will also become one of the few UK real estate developers to use IoT technology to upgrade student apartments. Additionally,Tuya Residential SaaS will assist dwell in developing an energy management system to visualize and manage energy use in the apartment units.

As Centurion incorporates smart applications and services into its business scenarios,Tuya can enable Centurion to connect with and integrate various smart solutions and different categories or brands of smart hardware to increase operation efficiency and optimize decision-making.

"The global rental market will witness the business potential created by smartization,thanks to the partnership between Tuya and Centurion. Tuya Residential SaaS can provide customers with a wide range of solutions and a vast ecosystem of hardware powered by the Tuya IoT Development Platform. We'll keep improving our product capabilities to develop more scalable technologies,marketing,and ecosystem services for our clients throughout the world," said Xia Yan,Head of Internaitonal Business for Tuya Residential & Hospitality of Tuya Smart.

"As a multinational owner and manager of Specialised Accommodation,Centurion Corporation endeavours to create a greener and friendlier smart living experience for our resident-tenants while reducing energy consumption,across our properties globally. Tuya Residential SaaS's cutting-edge technological strength in energy and access is well suited to address our needs. We look forward to deepening our cooperation and working together to better realize our ESG goals," said Leong Siew Fatt,Head of Student Accommodation Business for Centurion.

This partnership aims to serve as a high-quality blueprint for the smart transformation of the global rental market. Through the quick and effective implementation of smartization and the development of an IoT platform with integrated capabilities,which enable tenants to enjoy smart living and business operations to be autonomous and controllable,companies can be better able to develop the global rental market. More than a business deal,the partnership demonstrates the companies' corporate responsibilities in ESG. To assist global customers in achieving results in both commercial performance and ESG,Tuya is committed to improving its energy management and other capabilities.