Digital technology and big data promise a range of benefits to building developers, owners and tenants, including increased rental yields, improved employee retention and lower operational costs. The property sector, however, is behind others in realising technology’s enormous potential, a new report from Arup has found.
Reimagining Property in a Digital World says the ways in which buildings are designed, constructed and used are already being altered thanks to advances in digital technology and big data.
“Digital technology is redefining the property sector as we speak, bringing the potential to radically improve our working lives, increase asset value and create more sustainable buildings,” Arup global digital services leader Volker Buscher said.
But while there has been uptake of digital technology and big data solutions, what’s occurring across the sector now is nothing compared to the disruption that is expected. And when compared to what’s happening in other sectors in regards to sensors, flexible IT systems and cloud computing, the Arup report said the property sector had unfortunately not kept pace.
The benefits, though, promise to be massive, and can be applied to all stages of building including project planning, design and engineering, construction and fit-out, operation, asset renewal and whole-of-portfolio strategies.
The full article is available on the 7wdata.be website.