latames
Data-driven services move today’s proptech industry

Data-driven services move today’s proptech industry

13-03-2019 | Visión

With 6,000 firms and counting, the proptech industry is revolutionizing tenant services. It unlocks the value of client data to go beyond mere management of the real estate space.

  • Folmer Pietersma
    Folmer
    Pietersma
    Portfolio Manager

Speed read

  • Proptech drives digital innovation in the real estate industry 
  • The sector is evolving to offer new, data-driven services
  • The industry’s multiple drivers range from growing online consumption to rising fuel prices

Historically, the real estate industry has not been particularly innovative. This is due to that fact that property transactions are complex and because differences in local and international regulations make it harder for larger players to innovate across different countries and regions.

Thanks to the services supplied by proptech, this has started to change. To offer better and more relevant services, proptech startups have learned to collect tenant data on everything from a person’s workplace and transportation cost preferences to their social and energy-saving needs. 

“Proptech is no longer the domain of startups, now it’s turning into a whole ecosystem," said Menno Lammers, the head of PropTechNL, a community of professionals in real estate and the built environment that promotes innovation within the industry.   

Investment in proptech was the key theme of this month’s ‘Bricks, Bits & Investment’ event organized by Robeco and PropTechNL. Proptech makes up 22% percent of Robeco’s real estate portfolio and is viewed as a strong underlying growth theme. The companies in its portfolio include data centers, operators of laboratory space and firms that manage and lease industrial space. 

Conozca las perspectivas más recientes
Conozca las perspectivas más recientes
Suscríbase

Proptech firms keep reinventing themselves

Having started as providers of platforms for managing and listing properties, these days, proptech firms have to offer more than that to stay competitive. 

For example, for storage space suppliers, “a warehouse is not a box anymore,” said Robbert Heekelaar, vice president at San Francisco-based warehousing automation firm Prologis. Based on the data it gathers, Prologis now offers energy consumption information and energy-saving advice as an additional service to its tenants. It also provides an array of energy saving options, such as battery storage for peak shaving, or reducing energy use during peak times. For environmentally-minded business tenants, it provides CO2-neutral buildings. Prologis also offers an asset tracking service. 

“All these preferences are identified based on big data, for example on client priorities as regards transportation costs, labor availability, road access, and the proximity of economic networks,” Heekelaar said, adding that he believes the industry has high growth prospects. “Warehousing grows along with e-commerce, global trade and outsourcing trends,” he concluded. 

Solutions for local networking

Business tenants’ needs for community and access to a social network are another focus of proptech firms. 

For example, a Rotterdam-based proptech startup Chainels is professionalizing the communication between businesses and tenants at real estate locations such as city centers, malls and shopping districts. To this end, Chainels offers a cloud-based platform for information exchange. “With our app, tenants can report problems, have a forum for discussion, provide information about their company and display their logo,” co-founder Sander Verseput said.  

New York-based flex office space operator WeWork offers community spaces and an internal social networking platform. “One of the services WeWork provides to business tenants is curating communities, so that employees get to know other people in the building,” said Henrik Botten Taubol, transaction management director at WeWork. 

Proptech offers the real estate sector ways to embrace the digitalization trend.

Through these and other services, WeWork is able to add value for the building owners and developers that it works with. As a result, it generates up to 25% of premiums for them. WeWork also offers business tenants and building owners information on the expected and actual occupancy rates, making their planning easier.

Corporations tapping into proptech universe

Larger mall and shopping space operators now offer services ranging from parking sensors to online food delivery orders, all done via business apps supplied by the proptech sector. 

Paris-based shopping mall and airport operator Unibail-Rodamco-Westfield is one such example. It relies on proptech startups for the extra services it needs to offer tenants, and decisions on these services are made based on client data collected by the mall operator. 

“We leverage tenant data to increase the value we get out of each square meter,” said director Julie Villet. To this end, the company invested EUR 40 million in venture capital funds, to strengthen its sourcing of services from proptech and other startups.

Unibail-Rodamco-Westfield now works with startup Transaction Connect to integrate customer loyalty programs into credit card payments. It also works with Malcomm, which provides mall tenants with a social platform on which they can interact with suppliers, sign up for events, and find maintenance help. And, via the app provided by Workwell, tenants get invited to community events and can connect with colleagues and book meeting rooms.

Proptech branching out in a few novel directions

The proptech industry is evolving, and the areas considered hot by investors are changing as we speak. From an investor’s perspective, the most promising new directions in the commercial space are various kinds of automation models that increase the accuracy of property valuation with satellite image recognition, virtual reality and geolocation tools, said partner at Finch Capital Radboud Vlaar. 

In addition, automation of mortgage processes and legal procedures related to property transactions in both residential and commercial space are expected to remain popular with investors, he added. Proptech firms that provide office management software that manages meeting rooms, parking lots, and other facilities also have an edge in the current market.

Connected homes

And, of course, connected and smart homes, along with the software that will enable the operation of smart, or interconnected buildings constitute an increasingly popular theme. A growing group of proptech firms now also offer virtual reality tours, and this service continues to be popular. 

All in all, proptech offers the real estate sector ways to embrace the digitalization trend. “Proptech is the evolution of the built environment in the direction of digital transformation,” Menno Lammers, head of ProptechNL said at the ‘Bricks, Bits & Investment’ event organized by Robeco. 

Proptech is powered by several drivers

The key drivers of the proptech sector include several of the current social and economic trends. They range from growing online consumption, higher fuel prices and the growth of robotics to increasing e-commerce and global trade.  

Last year was the strongest year so far for this growing theme as it saw a few of the largest funding rounds ever. The winners were three US-based ventures with global reach: office proptech firm WeWork, which raised USD 2 billion, online property sales platform Opendoor, which raised USD 400 million and home trade-in platform Knock, which raised USD 400 million.

Los temas relacionados con este artículo son:
Logo

Información importante

Los Fondos Robeco Capital Growth no han sido inscritos conforme a la Ley de sociedades de inversión de Estados Unidos (United States Investment Company Act) de 1940, en su versión en vigor, ni conforme a la Ley de valores de Estados Unidos (United States Securities Act) de 1933, en su versión en vigor. Ninguna de las acciones puede ser ofrecida o vendida, directa o indirectamente, en los Estados Unidos ni a ninguna Persona estadounidense en el sentido de la Regulation S promulgada en virtud de la Ley de Valores de 1933, en su versión en vigor (en lo sucesivo, la “Ley de Valores”)). Asimismo, Robeco Institutional Asset Management B.V. (Robeco) no presta servicios de asesoramiento de inversión, ni da a entender que puede ofrecer este tipo de servicios, en los Estados Unidos ni a ninguna Persona estadounidense (en el sentido de la Regulation S promulgada en virtud de la Ley de Valores).

Este sitio Web está únicamente destinado a su uso por Personas no estadounidenses fuera de Estados Unidos (en el sentido de la Regulation S promulgada en virtud de la Ley de Valores) que sean inversores profesionales o fiduciarios profesionales que representen a dichos inversores que no sean Personas estadounidenses. Al hacer clic en el botón “Acepto” que se encuentra en el aviso sobre descargo de responsabilidad de nuestro sitio Web y acceder a la información que se encuentra en dicho sitio, incluidos sus subdominios, usted confirma y acepta lo siguiente: (i) que ha leído, comprendido y aceptado el presente aviso legal, (ii) que se ha informado de las restricciones legales aplicables y que, al acceder a la información contenida en este sitio Web, manifiesta que no infringe, ni provocará que Robeco o alguna de sus entidades o emisores vinculados infrinjan, ninguna ley aplicable, por lo que usted está legalmente autorizado a acceder a dicha información, en su propio nombre y en representación de sus clientes de asesoramiento de inversión, en su caso, (iii) que usted comprende y acepta que determinada información contenida en el presente documento se refiere a valores que no han sido inscritos en virtud de la Ley de Valores, y que solo pueden venderse u ofrecerse fuera de Estados Unidos y únicamente por cuenta o en beneficio de Personas no estadounidenses (en el sentido de la Regulation S promulgada en virtud de la Ley de Valores), (iv) que usted es, o actúa como asesor de inversión discrecional en representación de, una Persona no estadounidense (en el sentido de la Regulation S promulgada en virtud de la Ley de Valores) situada fuera de los Estados Unidos y (v) que usted es, o actúa como asesor de inversión discrecional en representación de, un inversión profesional no minorista. El acceso a este sitio Web ha sido limitado, de manera que no constituya intento de venta dirigida (según se define este concepto en la Regulation S promulgada en virtud de la Ley de Valores) en Estados Unidos, y que no pueda entenderse que a través del mismo Robeco dé a entender al público estadounidense en general que ofrece servicios de asesoramiento de inversión. Nada de lo aquí señalado constituye una oferta de venta de valores o la promoción de una oferta de compra de valores en ninguna jurisdicción. Nos reservamos el derecho a denegar acceso a cualquier visitante, incluidos, a título únicamente ilustrativo, aquellos visitantes con direcciones IP ubicadas en Estados Unidos.

Este sitio Web ha sido cuidadosamente elaborado por Robeco. La información de esta publicación proviene de fuentes que son consideradas fiables. Robeco no es responsable de la exactitud o de la exhaustividad de los hechos, opiniones, expectativas y resultados referidos en la misma. Aunque en la elaboración de este sitio Web se ha extremado la precaución, no aceptamos responsabilidad alguna por los daños de ningún tipo que se deriven de una información incorrecta o incompleta. El presente sitio Web podrá sufrir cambios sin previo aviso. El valor de las inversiones puede fluctuar. Rendimientos anteriores no son garantía de resultados futuros. Si la divisa en que se expresa el rendimiento pasado difiere de la divisa del país en que usted reside, tenga en cuenta que el rendimiento mostrado podría aumentar o disminuir al convertirlo a su divisa local debido a las fluctuaciones de los tipos de cambio. Para inversores profesionales únicamente. Prohibida su comunicación al público en general.

No estoy de acuerdo