Digitalization, smart building, green building, interest rate development. Like almost every industry at present, the real estate industry is facing massive change. In this transformation, three letters, in particular, are in the spotlight when it comes to real estate: ESG.
Environmental Social Governance combines environment, climate and nature protection, biodiversity (Environmental), social and governance (i.e., corporate governance). At the same time, ESG is basically not new. Because until recently, each company could decide individually in which framework and to what extent they wanted to implement this ‘directive.’ And it can. By spring 2021 and the European Union’s Sustainable Finance Action Plan concretization. For the first time, the Action Plan has established criteria – for example, the Taxonomy Ordinance – that require bindingness and transparency for green real estate funds, among other things.
Smart Building, Green Building, Artificial Intelligence
Likewise, intelligent buildings and the increased demands on living space play a central role in the real estate industry. The future’s smart living and working space will be controlled using artificial intelligence (AI) and predictive analytics. Here, weather data, occupancy schedules, load factors and other Big Data play a critical role in creating an intelligent building system. And, as a consequence, to save resources such as water and energy and thus be optimally equipped for the real estate future.
These developments and opportunities make it clear that real estate executives today and tomorrow must be much more than real estate professionals with industry knowledge. Know-how on technical innovations of our time, future transformation processes and opportunities arising from them are part of the requirement profile. So do resilience and leadership.
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Daniel Caspers
Partner and Managing Director
