The convergence of real estate and technology

Abstract

Technology is impacting on all companies at Internet speed, and an e-understanding of the future is required in order for real estate companies to determine their strategies and how they plan to fit into the New Economy. Real estate companies present some of the greatest challenges as well as the greatest opportunities, depending on the vision of the CEOs. Considering the inefficiencies and fragmentation in the industry, significant wealth may be created in those real estate companies willing to move to the edge of the frontier and explore opportunities to converge real estate and technology. This is entering into uncharted territory, and the importance of management and a clear strategy to steer through these changing times has never been greater. The author recently published a report, ‘Wired Real Estate: The Ultimate Portal’, which highlights the potential that exists in the real estate industry as real estate and technology converge. Based upon this analysis, a wired infrastructure is seen not only as a competitive advantage, but an opportunity to expand beyond bricks and mortar to offer tenants value-added services, or intangible assets, which should lead to high stock valuations. This paper gives a brief summary of the 164-page report. Copyright © 2001 Henry Stewart Publications