Real Estate Trends 2020: Smart development of smart places

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Real Estate Trends 2020: Smart development of smart places

A transformation to data-driven real estate

As technology is changing the next generation of real estate, smart solutions for commercial real estate cannot be ignored. How can organizations prepare for the smart revolution?

Invest in Digital Transformation

In a smart environment, different stakeholders are interacting with each other. They have overlapping interests and needs that they have to address. From property managers to tenants and from smart workplaces employees to commercial real estate investors, smart places engage all stakeholders in an intelligent, technology connected ecosystem. With the use of integrated operational systems, IoT-connected edge devices, blockchain technology, AI and Big Data, we have created endless possibilities for the future of real estate.

Smart Real Estate 2020

Apply lessons learned from smart cities

To fully achieve the benefits smart places can bring, urban developers need to apply the lessons learned from smart cities and Industry 4.0. This means the integration of vertical domains, taking care of the growing digital security challenges, and designing new strategies.
To do this, you have to identify a digital transformation journey. The following integration has to be easy, open and secure. Data is crucial for a digital transformation. Data management, Data compliance, improving operational efficiency and customer experience is, therefore, essential for smart places.

Take the first steps

When choosing to invest in digital transformation and the development of smart places such as buildings, offices and shopping malls, the first step is to develop a strategic roadmap. Digital transformation aligns people, processes, and technology transformation with strong support from top management. The roadmap, therefore, needs strategies for execution, communications and change management, stakeholder experience, and capability models. Each initiative should be classified considering the potential impact on stakeholders and operating expenses (OPEX) together with ease of implementation and Capital expenditures (CAPEX).


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