With demand increasing for smart buildings that can track and manage energy, environment and security, a new survey has found that as many as 84 percent progressive landlords expect a rise in smart buildings as a result of technological innovation.
Those who understand occupier office needs and tech requirements will be at the forefront of this revolution, says the study by CBRE Research.
Using modern technology in new buildings is more convenient than recreating older properties. Also, it is essential for landlords to partner more closely with tenants when developing smart buildings, the study titled How technology will redefine real estate — and why companies must prepare now by CBRE Research said.
Landlords should engage with tenants at the planning stage to ascertain the features and technology they require. Incorporating this technology in new buildings will be relatively straightforward, particularly those with large anchor tenants, but retrofitting older properties will be more challenging and not as cost effective, it says.
The main drivers of smart buildings are energy saving and lower carbon dioxide emissions. Energy management systems can help landlords achieve higher cost savings while the IoT enables them to collect real time data and act before problems arise, it says.
Asia Pacific continues to lag other regions in the use of sustainable and renewable energy in buildings; integrated security and safety systems; and individual end users’ ability to customise their indoor environment, it notes.
A smart building is one that uses automated processes to control a variety of operations. The Internet of Things (IoT) is supporting the development of a new breed of smart buildings hosting technological ecosystems that track and manage energy, environment, security and other key features. This allows real time interaction between building operators and tenants and can improve employee experience, the study said.
The development of smart buildings in Asia Pacific is still at a nascent stage. Installation and development costs are key concerns among landlords, particularly as many tenants are unwilling to pay a premium for such space.
More progressive landlords are beginning to provide flexible space solutions to tenants including co-working space and bookable rooms for meetings and events, the study said.
The use of technology to track space utilisation will improve workplace efficiency and reduce office space requirements. Office demand will also be shaped by other technological advances that transform job roles and functions. Strong growth in the number of IT staff will drive demand for business campuses, science parks and data centres, it added.