JLL: Technology transforming real estate market
The advisory firm’s recent report focused on the office sector over the next 15 years.
JLL, a global real-estate investment and advisory firm, has unveiled a report exploring the impact of technology, data and digital disruption on work spaces and real estate investment strategies.
Titled Workspace, reworked: ride the wave of tech driven change, the report focused on the office sector over the next 15 years.
Key findings from the report showed a growing portfolio of dynamic assets designed for start-ups, which are flexible, modular and built to varying business cycles. Additionally, connectivity is quickly becoming the ‘fourth' utility that will impact location decisions, and a substantial increase in co-working space of up to 30% of a corporate portfolio.
Craig Plumb, head of research, MENA, JLL shared: "We are witnessing incredible social, cultural and organisational change. Technological and organisational changes are altering how and where we work and, crucially, are allowing our impact on the external environment to be tracked, measured and analysed more than ever before."
He added: "In our reports, we've identified the ways in which these changes are giving occupiers, developers and investors strong cues about how their approaches to real estate will need to change practically in the future. New opportunities will emerge and those who are able to respond to change will reap the rewards.
"Changes in technology and organisational structure are having a profound impact on real estate markets across the world. They threaten to seriously disrupt investor's portfolio plans and occupiers CRE plans as well as how both individual buildings and entire cities are designed, managed and operated."