- COVID-19 has adversely impacted the real estate market, especially for the office assets where occupancy rates has decreased and rentals has been compromised.
- Office and retail assets have increased their online presence, complementing their brick and mortar buildings. It mitigates the potential spread of the COVID-19 pandemic from crowds and long queues during peak hours while lessening the burden on their tenants’ businesses through their online presence.
- COVID-19 saw a surge in the advocate for a technological change to increase the efficiency in products and services. 3 highlighted factors to incorporate technology successfully into a company are Leadership, Vision/Strategy and Organization/Architecture.
- Smart solutions such as use of IOT (Internet Of Things) sensors increase cost savings, especially in the various aspects of Real Estate – property and asset management. It lowers maintenance cost and provide additional value-addedness from their assets.
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