When asked about his foresight on emerging competitors in the real estate industry, the director of a large European property development company told PwC and the Urban Land Institute,
“Our biggest competitor or threat is a company that we do not know yet, which could be two friends working together in a garage.”
In a wavering global landscape redefined by disruptive technology, geopolitical uncertainty, and demographic changes, real estate players and urban planners face new challenges. The world’s leading property market was an opportunity for different players to explore new options.
MIPIM 2017 was an opportunity to discover and meet real estate innovation trend-makers.
MIPIM 2017 explored major market trends and business opportunities.
For anyone attending, it became clear that the traditionally conservative real estate industry is starting to embrace change, in every aspect of the business.
The MIPIM Innovation Forum was THE place to identify innovative trends and key industry players.
Innovation is reshaping the way real estate projects are conceived, funded, built, marketed, managed, and even how property transactions are made. Here are some highlights from the show:
Japanese project Kashiwa-no-ha Smart City, winner of the Best Futura Mega Project 2017, embodies sustainability on three levels: environmental, human, and economic. It has the best green-building technologies and smart environmentally-friendly design, urban infrastructure that favors the physical and social health of its inhabitants, and a smart educational and business platform to enable new industries to drive economic growth.
Online real estate crowdfunding platforms are changing the way projects are funded and individual investments are made. Platforms like the French FundImmo allow individuals to directly invest in development projects, and give real estate developers an alternative to traditional capital markets for funding.
According to a Massolution study, total real estate crowdfunding investments are expected to grow worldwide to more than $250 billion by the end of 2020.
BIM management systems used with indoor and outdoor 3D mapping technologies increase efficiency, keeping projects on-schedule and on-design.
When it comes to outdoor 3D mapping, software developer Pix4D proposes drone-based systems and the Pix4D Crane Camera: an automated site visualization and documentation tool used with Pix4Dbim software. It creates 3D data for measurements, comparing the current site build with design drawings, monitoring the construction process with a cloud-based timeline, and sharing the results.
Marketing and property showcases are adopting new digital technologies such as interactive 3D content, 360° virtual tours, and virtual reality.
Pix4D revealed a sample website showing interactive 3D content created with its drone-based, photogrammetry-powered real estate solution, designed to engage clients online through a first-person experience.
Property Management and Transactions.
Property inspection, maintenance assessment, asset management, tenant operations and transaction systems are also integrating new technologies.
Paris-based Air Support presented its services for drone-based inspection and site supervision.
Hong Kong-based home rental platform WeDeal introduced its end-to-end solutions for property owners and home rental seekers: from online property display to signing the rental agreement.