Great insights from All Work on the changing environment in commercial real estate as it pertains to tech. They wrote: “Historically, the commercial real estate industry has been slow to adapt to new solutions. Luckily, this may be changing as property owners respond to the pandemic. According to Pi Labs, the CRE sector’s appetite for innovative ideas & tech has grown as a response to the current health crisis. More importantly, the pandemic “has brought a sharper focus on how technology can increase the value of CRE.”
With organizations rethinking their real estate strategy and footprint, providing value has become a top priority for landlords and developers across the globe. There’s good reason to believe that proptech will see a boost in adoption in the coming months and years. “The clearest parallel is the 2008 downturn, which led to a boost in proptech as real estate companies sought to find competitive advantage and maximize savings.” As people and organizations continue to understand the “new normal”, proptech will become a vital offering for tenants and end-users alike.”
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