In this article, we go through the following:
1. Definition of proptech
2. Relevant news and information on proptech
3. How proptech can shape the future of the global landscape
4. Virus-killing robot for use in the airline industry
The pandemic has changed the world. Like it or not, we’re forced to embrace the digital era. All of us have been affected on different levels. We feel it personally, psychologically, and professionally. This massive pivot to the online space seems like it’s here to stay. This change is accompanied by advancements in technology and cloud-based interactions.
With this in mind, we need to understand what proptech is and how it affects us. Once we can clearly define it, we can then know about its potential benefits.
The question going around right now is: “Is proptech really important?” The answer is a yes. Proptech is revolutionizing how people make property-based decisions. Owning, leasing, renting, or purchasing a property is a big commitment. Prospective buyers should easily identify and access their options.
Proptech, also identified as real estate technology or property technology. It’s the cross-industry tools and technologies that change the way the real estate industry does business. Proptech allows companies to do the following on properties:
With the help of proptech, the real estate industry can better improve, innovate, and enhance its services. Over time, proptech is being developed with the goal to improve the overall experience for everyone involved.
For example, the ability to exhibit properties available while comparing other options is a welcome feature. This leads to smooth transaction-based interactions. By doing so, the real estate industry improves returns, shows greater transparency, and makes itself more accessible.
Experts now see data as the new oil as the digital economy establishes a permanent presence. This observation is beneficial to proptech, which is still in its infancy. Further developments are sure to follow.
Proptech firms are now being targeted by SPACs, or special purpose acquisition companies. These are blank check companies formed by existing businesses to buy up-and-coming companies and make them public. Turning companies public will lead to growth and expansion.
MENA’s Fintech Hub and Bahrain FinTech Bay collaborate with the Real Estate Regulatory Agency (RERA). They plan to form a solid and sustainable real estate sector. They do this so they can strengthen proptech in Bahrain.
Check out - 50 Lessons Learned During 2020
Matterport, a blossoming proptech organization specializing in 3D mapping tools, is set to go public. The company looks to provide significant returns to investors. Potential revenue targets seem more likely to be hit.
The Polish air quality monitoring start-up Airly has become the partner of Nafas, a newly launched network of air quality sensors in the Indonesian capital Jakarta.
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Jeol unveils a new electron beam metal 3d printer. The metal 3D Printing industry is experiencing serious waves.
Some L.A. apartments, stores can now pay rent in bitcoin. Bitcoin will now be accepted for retail and apartment rent at the Grove shopping center and other properties owned by Caruso. The Los Angeles real estate magnate is planning other digital efforts such as using blockchain technology to support a new rewards program for shoppers.
Microsoft secures $29b deal-making augmented reality headsets for US Army
Virus-killing robot tested for use in the airline industry - A robot armed with virus-killing ultraviolet light is being tested on Swiss airplanes, yet another idea aiming to restore passenger confidence and spare the travel industry more pandemic pain.
See the latest PropTech emerging companies that I am tracking.
I had the opportunity to interview Frank Cottle. Frank is the CEO and Founder of Alliance Group of companies. He is also a serial entrepreneur and a committed proptech investor. Frank’s company has accumulated roughly 11,000 offices across the world.
In the interview, we learned the following concepts:
- The importance of understanding and valuing the customer
- The often ignored benefits of workplace flexibility and how companies could use it
- Ways to find the right people for the right roles
- The strong bonds between data, information, knowledge, and action or execution
- What virtual reality is and how it could shape the future
- The importance of technology and how it could make organizations future-proof
If you want more helpful strategies and information from Frank Cottle, check out our videos on YouTube. See how proptech figures into the future of work.
Now for your thinking time - take a few minutes and think through these questions.
1. What proptech is a valuable tool moving forward for my company?
2. How could management use proptech to create effective and meaningful changes in the workplace?
3. Does proptech even matter? Does it provide value to my organization?
4. What do you think is the relationship between technology in general and proptech?
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