- The real estate sector has been slow to embrace the digital revolution, with one estimate that the sector is behind other industries by as much as five years
- ‘Shaping our Cities’ reviews how the real estate industry is changing and how new business models must adopt digital technology to create value
- Real estate investors want more granular asset level data to evaluate the sustainable performance of their investments
- Real estate occupiers want quality office spaces to attract and retain talent but also with more flexibility within the office environment
DUBLIN–(BUSINESS WIRE)–IPUT, Ireland’s leading property company and the largest owner of offices in Dublin, today launches a report, ‘Shaping our Cities’ in conjunction with Arup, the global engineering and design group. The report looks at how digital technology is influencing the expectations and demands of investors, owners and occupiers. This, in turn, is now driving the sector to more rapidly integrate technology into their buildings, service offering and asset management capability.
The report includes input from a broad range of international participants in the real estate sector including global investors such as Allianz Real Estate, CBRE Global Investors and UBS; occupiers such as Knotel, LinkedIn, Twitter and WeWork; and other influential organisations within the sector.
Niall Gaffney, IPUT CEO, commented:
“There is now a critical need for the real estate community to invest in sustainable buildings and the public realm. The value of technology in servicing the needs of investors and occupiers will influence the shape of the real estate sector over the next decade.
“As we commence the development of almost 65,000 sq. m. of mixed-use space in Dublin city centre, we saw an opportunity to explore the key digital drivers of change in real estate globally and ensure we are delivering stock that is at the industry’s cutting-edge. Drawing on this research, we can apply global best-practice to our projects for the benefit of our future occupiers and support long-term returns for our shareholders.
“Our commitment is to invest in sustainable buildings and the public realm – that enhance the occupier experience – which will set new environmental standards for offices in Ireland and mark us out as a landlord of choice in the sector.”
Léan Doody, Arup Europe Digital Property and Smart Cities Leader, commented:
“Real estate has always shaped cities, and technology has always shaped real estate. However, despite the pace of technological change over the past decade, the real estate industry has been slow to adapt – one study puts real estate behind other industries by as much as five years. That is now changing. We are seeing business models evolve and real estate owners and investors are adapting to capitalise on the potential that technology brings. Our research identifies the changing ways that we are looking at real estate investments; how we are adapting to the changing world of work; and building more sustainable buildings and business models.”
The full report is available to download at www.iput.com/shaping-our-cities
IPUT is Ireland’s leading real estate company and the largest owner of offices in Dublin.
The IPUT portfolio comprises 470,000 sq. m. (5 million sq. ft.) of institutional grade, prime commercial real-estate and includes large scale offices, retail and logistics assets with a focus on offices in Dublin’s core central business district. At 30 September 2019, IPUT’s NAV was €2.62 billion.
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