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How is PropTech changing the way in which real estate is being managed?

PropTech is fast gathering pace, and proving to be a solution to a number of issues presented by COVID-19.

How is PropTech changing the way in which real estate is being managed?

Technology is shaping the way we communicate and has enabled some businesses to roll out remote working across their organisations and remain productive through the pandemic. In many ways, technology is doing the same within the facilities management industry, with real time data being communicated to operators who can make informed decisions based on the effective information provided.

BIM, BMS, IOT, smart buildings etc., are all led by the same objective: collating, communicating and evaluating data to continually enhance service offerings and end-user satisfaction, whilst improving efficiency and reducing costs.

The real challenge is to collect useful data, ensure it is accurate and utilise the data effectively through comprehensive analysis. This can be controlled through effectively specifying Asset Information Requirements, and its format, at the initiation of projects, as well as closely monitoring its production at defined data drops throughout projects.

Using a facilities management consultancy can ensure this is done effectively by streamlining continuous information exchange which can simply be plugged into software solutions. This reduces a significant amount of re-work and inefficiencies associated with outdated project delivery processes.

Artificial intelligence and machine learning are becoming more established and widely utilised. This presents a major opportunity to integrate this technology with sensor networks and data repositories to automate and continually improve analysis and significantly optimise operations.

So how is PropTech changing the way in which real estate is being managed?
PropTech is fast gathering pace, and proving to be a solution to a number of issues presented by COVID-19. Solutions that were previously considered luxuries are now essential for the safe operation of either unoccupied or partially occupied facilities.

One of the solutions that stand out in the current pandemic is the use of Remote Operations Centres to control and monitor engineering services, including critical fire life safety and security systems. Even standalone BMS systems can be monitored in the same way to detect emergencies, breakdowns and failures instantly.

Additionally, these solutions can optimise energy efficiency and indoor climates reducing carbon footprints. In advanced regions, robotics are being utilised to undertake hazardous tasks such as disinfection activities with strong chemicals that may present risks and are considered unsafe for humans.