The Future Is Coming – Is the Property Industry Ready?
8th May 2018
Our director Sunny Landa recently attended the World Built Environment Forum at the RICS Summit in London. Here are three things he learned about the way we’ll work in the future.
1. Infrastructure Is Key If Cities Are to Prosper
Cities need investment in infrastructure if they are to compete on a global scale. In Nottingham, we have the success that is the rightly-lauded public transport system, but we need to go much further; we need to create buildings where the outside comes inside. Those companies that embrace the role of intelligent technology are those who will not only survive, but thrive. The future of buildings – or smart buildings as they are to be known – will link to the future of all modes of transport – from the driverless car to the next generation of trams and buses.
This will meet the ceaseless drive towards corporate social responsibility, and will bring forward net zero energy facilities. The challenge for the property industry is now to bring these into our designs when advising clients and developers. Occupiers now want their building to be an extension of their brand, and millennials want the buildings they work in to be amazing on every level.
2. Tech is Everything
Technology is developing at breakneck speed. Think back 20 years and the internet was only just beginning to be used on a widespread, domestic basis. Fast-forward two decades and we’ve had the mobile phone revolution, and we’re now entering the phase where artificial intelligence and data is set to dominate our working lives as we work on a truly global scale.
It’s staggering to think that some 50% of the world’s entire data was created last year, but only 0.5% used. For tech giants, data is the new oil, but the challenge for all of us is not how we harvest this data, but how we store it. However, we must never underrate the human touch – the danger is to rely 100% on data.
3. We Need to Change the Way Buildings Work
The key to the future of the property industry is not simply to modernise or refurbish buildings (although this is still important) – but to re-purpose them.
The future office building will see tech become its very fabric from 5G, virtual participation and augmented reality facilities; to digital layers, electronic car ports and an increasing use of drones and robots.
These buildings need to be directly linked to sustainability – and in some cases, if the occupier is ultra-sustainable, rent inducements could be offered by forward-thinking landlords.
The property industry should be at the forefront, revolutionising the way we work in our city centres. Big changes are coming – we need to grasp the opportunity with both hands.
To start your property search today, get in touch with us.