Recently, there has been increasing interest in the field of indoor localization. This field of research can facilitate building and asset management. Although there are different technologies that can be used for localization, there are many limitations that need to be improved, and therefore there is a need to explore new technologies and alternatives that can improve indoor localization. It has been proven that visible light can be used to transfer data. A German physicist, Harald Haas, introduced the term "Li-Fi", which stands for "light fidelity", as a new technology that uses light as a medium to deliver data. Accordingly, in this study, we have proposed a hybrid asset localization system using Li-Fi and Bluetooth Low Energy (BLE). This system utilizes light-emitting diodes (LEDs) and BLE tags to detect the locations of assets in a smart building with the support of crowdsourcing technology. The system can make the management, maintenance, and localization process of equipment inside the buildings more easier. To achieve the required, the paper provides a comparison between different applications that have been developed for indoor localization using Li-Fi technology in order to highlight the limitations that need more improvement. The proposed system consists of a web-based administrator panel that allows the administrator to manage maps, assets, tags, LED lamps, and maintenance requests, as well as a mobile application that enables the user to locate, search and view asset information. In addition, the mobile application performs the process of crowdsourcing to update the assets' locations. We experimentally explore the system's functionalities and the results show that the system can accurately localize assets, and can detect Li-Fi signals from 55 lx and above within a range of 1.5 m. In addition, the BLE stickers can be detected up to 7 meters away, however, the crowdsourcing process to update the asset location is performed if the distance between the mobile application and the asset is less than or equal 1 m which gives accurate results.