OUTLOOK
(Source: thailand-terrainternationalrealty.com)
DELOITTE’S 2020 COMMERCIAL REAL ESTATE OUTLOOK
A
s the industry evolves and we envision the next decade, the most successful commercial real estate companies should follow the mantra: location, experience and analytics. In the current artificial intelligence (AI)/ internet of things (IoT) era, the Commercial Real Estate (CRE) industry is having an unprecedented digital technology change, where geography is no longer the only factor driving the commercial real estate economic life and value. CRE companies are urged to prioritise tenants’ and end users’ needs, given the increasing influence of technology and changing customer preferences. According to Deloitte’s 2020 Commercial Real Estate Outlook, tenant preferences are changing with experience being the top priority and that IoT and AI technologies can raise operational efficiency and lower costs. Technology and data are the next frontier. Technology is reshaping tenant and end-user experience, with IoT and mobile apps changing the front-end experience. Known as “proptech”, Malaysia is looking to harness and incorporate technology into the property sector. Deloitte’s economists raise concerns about the growing volatility of the global economy. Globally, politics are expected to weigh heavily on trade, investments, and equity markets. Despite these macroeconomic concerns, the CRE industry seems on solid footing 30 Building & Investment | www.b-i.biz
(Source: Shinya Sawai via asia.nikkei.com)
