The Dawn of Dig­i­tal­iza­tion in Real Es­tate

Silicon Luxembourg - - IN FOCUS -

THE REAL ES­TATE SEC­TOR IS THE LARGEST AND MOST VALU­ABLE AS­SET CLASS IN THE WORLD, AS IT AP­PEALS TO A BROAD RANGE OF IN­VESTORS AND IS SEEN AS A REL­A­TIVELY LOW-RISK AS­SET. UP UN­TIL NOW, IT HAS MAN­AGED TO GET BY WITH MIN­I­MAL IN­NO­VA­TION, BUT IN­ER­TIA AND COM­PLA­CENCY WILL PROVE DAM­AG­ING IN THIS DAY AND AGE.

New tech­nolo­gies and dig­i­tal­iza­tion are re­shap­ing and reimag­in­ing all sec­tors. They have spread into the real es­tate in­dus­try, cre­at­ing an emerg­ing “Realtech” sec­tor, bring­ing greater ef­fi­ciency to the way real es­tate is pro­cured, de­vel­oped, man­aged and uti­lized.

Every­one in­volved – from agents to de­vel­op­ers to in­vestors to prop­erty man­agers – will need to un­der­stand the lat­est in tech­no­log­i­cal in­no­va­tion, and im­ple­ment strate­gies to in­te­grate those ad­vance­ments into their projects and busi­nesses in or­der to main­tain a com­pet­i­tive ad­van­tage.

Peo­ple and tech­nol­ogy are be­com­ing in­creas­ingly in­sep­a­ra­ble. In­no­va­tion in other in­dus­tries con­tin­ues to power ahead, height­en­ing con­sumer ex­pec­ta­tions of how they en­gage with all as­pects of their lives, in­clud­ing their re­la­tion­ship with the built en­vi­ron­ment. This has cer­tainly put more pres­sure on the real es­tate sec­tor to in­no­vate. De­liv­er­ing an ex­cel­lent cus­tomer ex­pe­ri­ence is there­fore cru­cial to stay­ing ahead of the game. For in­stance, vir­tual re­al­ity and ar­ti­fi­cial in­tel­li­gence are be­ing in­tro­duced to pro­vide on­line sim­u­la­tions, which save pre­cious time. Cost-ef­fec­tive bea­con tech­nol­ogy has re­shaped and fa­cil­i­tated prop­erty mar­ket­ing. We also see fin­tech star­tups of­fer on­line in­vest­ment plat­forms and on-de­mand fi­nan­cial solutions.

Global en­vi­ron­men­tal aware­ness and reg­u­la­tory mea­sures dic­tate the trend of sus­tain­able ar­chi­tec­ture. New Euro­pean reg­u­la­tions for the built en­vi­ron­ment sec­tor that come into ef­fect in 2020 will re­in­force that trend. The ur­ban­iza­tion land­scape is chang­ing dras­ti­cally due to grow­ing pop­u­la­tion mi­gra­tion into ur­ban ar­eas. Re­lated real-es­tate chal­lenges, such as in­fra­struc­ture, pro­vi­sion of ser­vices and the need for greater data man­age­ment ef­fi­cien­cies, have to be ad­dressed, lead­ing to the rise of smart cities and the ad­vent of a fully in­tel­li­gent fu­ture.

Smart build­ings are at the cen­ter of this vi­sion, pro­vid­ing not just a roof, but also the in­for­ma­tion in­fra­struc­ture to make a truly in­tel­li­gent world pos­si­ble and con­trib­ute to global sus­tain­able goals. Smart build­ings will soon be­come the stan­dard, with fea­tures that in­clude op­ti­mized cool­ing and ven­ti­la­tion sys­tems, pro­grams match­ing oc­cu­pancy pat­terns to en­ergy use, proac­tive main­te­nance of equip­ment, and dy­namic power con­sump­tion con­nected to the com­mu­nity's smart power grid – in­tel­li­gence from the be­gin­ning of the de­sign phase right through to the end of a build­ing's life.

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