Innovations in Commercial Real Estate
Preparing for the City of the Future
"Innovations in Commercial Real Estate Preparing for the City of the Future" is an industry report from Deloitte Global. The report describes how changes in technology and consumer behaviour will subvert and redefine the commercial real estate (CRE) industry. At the same time, demographic shifts, growing urbanization, longevity of Baby Boomers and differentiated lifestyle patterns of Millennials as well as security, climate change and resource scarcity concerns urging urban policy makers seriously consider using innovative ways to manage commercial real estates.
Viewpoints / key findings
This report examines in detail the views of commercial real estate owners on the development of the smart cities or the cities of the future. It points out how some of the rapidly evolving trends will affect development of the real estate industry. With this thought in mind, we have identified five themes, if used strategically and timely, can equip CRE companies to make their physical space future-ready.
- Future of mobility - changes in mobility patterns, the rise of shared access of vehicles and the approaching reality of fully autonomous vehicles will have massive impact on both the use and supply-and-demand dynamics for commercial real estate owners.
- Occupant health and wellness - commercial real estate owners need to further consider health and wellness of the tenants. It includes thermal, comfort, daylighting and lighting noise, interior layout and biophilia.
- Internet of Things (loT) – Technology innovations have found their way to the center of every business. An loT-enabled building management system offers higher-order benefits, improve margins through cost savings and operational efficiency.
- 3D printing technologies – A few companies in China and Dubai have already developed low-rise buildings with large 3D printers. 3D printing is likely to reduce construction costs, drive operational efficiency and enhance the quality of construction.
- Demographic data and predictive analysis – In today’s hyper-connected world, the predictive analytics on the expanded sets of demographic data will help CRE owners to potential access whether the existing CRE infrastructure will align with the requirements of those inhabitants.