How will COVID-19 accelerate the adaptation of technology in real estate?

24
Mar
2020
News - How will COVID-19 accelerate the adaptation of technology in real estate? #coronavirus #property #proptech #remote work #report #technology #tenant experience

by Ákos Budai | Report

Although the coronavirus pandemic has the world (and the property sector) facing an unprecedented challenge, one positive consequence seems to be certain – it is going to accelerate the adaptation of technology. Property Forum asked three people in proptech to share their thoughts on how COVID-19 is going to impact the way we work and connect to each other.


Maciej Markowski, CEO & Co-Founder of spaceOS

Short-term, COVID-19 sent us all home, cancelled events and turned our meetings into calls. Slack and Microsoft Teams sign-ups explode - corporates are trying to continue functioning. It's putting a large strain particularly on companies that never introduced flexible working policies.

Long-term, I believe, a lot of interesting effects are in store for us. You can say that COVID-19 will do for remote working what WWII did for equal employment - it will force it and people will realise that it's much less scary than they believed. We'll have a whole generation of managers that had to figure out how to manage a remote team. Technology will become even more key - to bring people together, manage community and keep us all safe. It's also not impossible that corporates will start renting less office space and will require more flexible leases. Technology, like spaceOS, allowing landlords to manage their building, but also turn some of it into flexible workspace, will come in handy.

Marian Skvarek, Founder of Realpad

I've spent the whole week on calls with our customers. We're a remote team since our inception and our customers wanted to understand how to navigate this transition. One thing that struck me was how many of our customers (including the conservative ones) took this as an opportunity to make their organizations more efficient, location-independent and employee-friendly. This makes me very confident that the way we think about office space not only will change but already is changing. One thing for sure is that we’ll see more remote working. That is why we've launched the series of webinars and consulting services tailored to real estate companies on how to adapt to working from home.

Petr Boruta, Marketing Manager at Spaceflow

While the majority of our clients are owners of commercial buildings, in the current situation we want to focus more on the residential sector. As it's now very important to communicate as quickly as possible and without actually connecting in the physical space, we believe that there will be a momentum for tenant apps. We have made it possible for space operators, building owners and neighbour communities to start Spaceflow in a self-service mode through our new website that was launched last week. In these difficult times, communities are more important than ever and we are hopeful as we see that people in residencies and co-living projects offer help to each other through the app.

As bulletin boards are being replaced with community platforms, the ability to convey a message quickly and seamlessly, in selected buildings or portfolio-wide, seems to be even more crucial for property managers as well. Many of them have started sharing tips on how people can protect themselves and each other from the virus, in addition to sharing the precautions they have introduced. 




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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