Digitising the commercial real estate industry

Digital transformation does not happen overnight. It takes resources, planning, collaboration and, most importantly, intent. Clearly, the new era imposes digital solutions, which can improve on businesses main drivers: income generation and asset appreciation. These tools will not only help companies improve their specialty leasing processes, but are already changing how the market is conceived.

Reducing costs and increasing efficiency is an essential part of the business.

We understand the need and importance of implementing digital solutions, such as improving margins and optimising payment and contract processes. Accordingly, we centralise all aspects in one comprehensive specialty leasing process, from its beginning to its termination:

Requests – Bookings – Invoices – Performance – Assets – Spaces – Advertising Spaces – Tenants – Landlords

Through specialty digital platforms, it is possible to display spaces in a simple and safe way, granting visibility and the opportunity to show available units, spaces and advertising areas within the shopping centres, while connecting with potential new tenants and improving the customer experience. Likewise, these tools allow landlords to manage thousands of requests at the same time in one dashboard and open a fluent bidirectional communication with potential clients.

Yet, we are now facing other factors that should be regarded. As the Italian expert on commercial real estate, Gaetano Graziano, claimed during his interview, “Those who do not adapt will unfortunately remain out of any market logic. Technology will be a key factor in making sales points more attractive, increasing the level of service, improving the shopping experience, and increasing the bond with digital consumers (native and non-native).”

Consequently, digital tools contribute to occupant satisfaction and space utilisation, two aspects that have radically changed after the pandemic. Increasing demand for flexible leasing terms and the prospect of hybrid work models have provided tenants more choice on how much space they should lease and which kind of space configuration better suits their needs. Technology can even help assess the flow of people instantly and continuously across spaces to better inform decision-making for both tenants and landlords.

Furthermore, the near future demands considering sustainability and health and well-being, which can no longer be disregarded in any business strategy. Commercial spaces that focus on ESG and aim at targeting net-zero carbon emissions are viewed more favourably and attract more rents. Indoor air quality and ventilation, disinfection, touchless applications and a better understanding of space use and density are key aspects that could set a space apart and lock a deal. Another one is fostering in-person socialisation and collaboration, rethinking design to facilitate interactions, while offering attractive features to merit commuting for users.As you can be easily noticed, change is already knocking at the door and it is high time our industry adapts to the new era of digitisation. Check other blog posts to read more about the million possibilities digital tools can provide!

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