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.
For example, digital tools and platforms can mean:
The report provides a number of case studies that highlight the potential for digital technology across the entire building lifecycle.
The report said a data-driven investment strategy improved decision-making and returns, while portfolio-level performance analysis led to operational cost savings.
As a case study, the report looked at Digital Globe, a company creating a national GIS database of all building assets across australia. The company is working with governments to create a product called Geoscape, which will provide easy access to the physical attributes of more than 15 million structures across australia.
“The tool comprises high-value location and structural data on buildings, including features like footprint and height, rooftop material, and solar panel coverage.
“Geoscape will support evidence-based decision making across a wide range of business scenarios, including planning, risk estimation, site selection, transport analysis and emergency response.”
In terms of project planning, the report found that digital visualisation and engagement tools were helping to better involve stakeholders in the decision-making process early on, “giving them a greater sense of ownership and better insight on the impact of the project, ultimately reducing project risk”.
One example is an app called “Cityswipe”, which has been referred to as “the Tinder of stakeholder engagement”.
The City of Santa Monica in the US is using the app to get public feedback on their new urban plan, “on every aspect from benches and parking to lighting and public art”.
“For the time being, it’s fairly basic: a photo of some street art appears with a caption asking: ‘Do you want more of this?’ But by engaging public stakeholders in this familiar way, it’s hoped the planning process will better represent the preferences of the target audience, resulting in better urban experiences and greater local support.”
Technologies such as 3D scanning, LiDAR and photogrammetry are enabling faster, cheaper, and more accurate existing conditions modelling, enabling high quality retrofits and renovations. Digital design simulations also promise to improve future user experience.
“Data-driven simulation allows planning, design and engineering teams to produce hypotheses and test them systematically. This means optimised user experience outcomes and a reduction in the likelihood of costly mistakes.
