Real Estate

Embracing The Era Of Intelligent Commercial Real Estate: 2022 Trends In Prop Tech

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<p style="text-align: justify;">Commercial Real Estate (CRE) property technology has transformed dramatically over the past decade, especially pushed forward by the COVID-19 pandemic.</p><p style="text-align: justify;">While this period has proven challenging for the CRE sector, it has also accelerated several key PropTech trends that were already beginning to gain traction in the industry. CRE leaders face complex challenges that require the right technologies to solve them.</p><p style="text-align: justify;">Here are five major CRE PropTech trends in 2022:&nbsp;</p><ol><li style="list-style-type: none;"><ol><li style="text-align: justify;"><p><strong>Intelligent Facilities Management:&nbsp;</strong>Integrated technology and services deliver a powerful, automated way of managing space today.</p></li><li style="text-align: justify;"><p><strong>Modern Space Management:&nbsp;</strong>Strategic planning and space efficiency insights are critical to enhanced space utilization. CRE leaders are re-imagining the commercial office leasing process to an online-first experience for smaller square footage buildings and co-working spaces.&nbsp;</p></li><li style="text-align: justify;"><p><strong>Innovative Building Operations:&nbsp;</strong>Transforming the way buildings are managed with tech solutions increases property efficiency and boosts tenant satisfaction. Enhancing the tenant experience through mobile apps provides occupants with building access, accessibility to critical services, and the ability to control their environments.&nbsp;</p></li><li style="text-align: justify;"><p><strong>Powerful Data and Insights:&nbsp;</strong>Cohesive data strategy and systems are now delivering robust insights into the global real estate portfolio. Leveraging public and private data insights can enable profitable investing by offering valuation tools for commercial buildings and other assets.&nbsp;</p></li><li style="text-align: justify;"><p><strong>Smart Buildings:&nbsp;</strong>Occupancy sensors, IoT, air quality, and smart building technologies permeate the CRE landscape today. AI and machine learning enable IoT sensors and devices to gain insights on how to better manage buildings for both the occupiers and operators.&nbsp;</p></li></ol></li></ol><p>PropTech will continue to improve access to insights for all these critical use cases as more property managers gain a better understanding of their building operations throughout 2022 and beyond. Transformational technology, data, and analytics will continue to evolve to meet the organization&rsquo;s needs.</p><p><span style="font-size: 10pt;"><em>This article was contributed by our expert <a href="https://www.linkedin.com/in/shreyansparekh/">Shreyans Parekh</a></em></span></p><p>&nbsp;</p><h3><span style="font-size: 18pt;">Frequently Asked Questions Answered by Shreyans Parekh</span></h3><h2><span style="font-size: 12pt;">1. What is CRE Technology?</span></h2><p>CRE technology describes technology developed for use in commercial real estate buildings and corporate centers. With the evolution of interconnected hardware and software systems today overlaid with AI and ML, we have seen the proliferation of cloud-based software solutions and integrations with smart solutions in buildings.</p><h3><span style="font-size: 12pt;">2. How does PropTech change real estate?&nbsp;</span></h3><p>PropTech has spurred key digital transformations in the worlds of both commercial and residential real estate. The three key pillars of this transformation across both commercial and real estate domains include Real Estate Fintech, Shared Economy, and Smart Real Estate. These pillars pertain to facilitating faster and more efficient transactions and financial services provisions, facilitating shared access and usage of properties, and providing control and analysis over end-to-end building operations.</p><h3><span style="font-size: 12pt;">3. What will be the impact of PropTech on housing demand in 2022?&nbsp;</span></h3><p>PropTech will drive speed, efficiency, visibility, and transparency into housing development and purchasing processes, continuing to propel housing demand. PropTech will continue augmenting capabilities across construction, discovery and development, portfolio management, and operations to spur housing demand.</p><p>&nbsp;</p>
KR Expert - Shreyans Parekh