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Wellbeing: the Ultimate Value Proposition in CRE.

“The social understanding of being ‘at work’ has fundamentally shifted. Now, a sharper focus on health and mental wellbeing is rewriting the rulebook for CRE.”

Wellbeing had already been gaining traction in the CRE sector. The pandemic has dramatically accelerated the rate at which the sector incorporates and focuses on the wellbeing of the end-user.

“While technology investments have a well-established track record of improving operational efficiency and lowering commercial property costs, the emphasis on increasing the experience, comfort and mental wellbeing of end-users is new.

“One MIT study, for example, calculated that offices which rank well on wellbeing measures command 28% higher effective rent premiums on average.”

Workplaces will no longer be valued and assessed based on desk space, rather, they “will be judged by how successfully they enable workplace focus, collaboration, learning, and organisational culture.”

“COVID-19 could be one of the most transformative events the built environment has ever experienced”

Faisal Butt, Pi Labs

Digital technologies can help property owners keep up with shifting demands, particularly as they pertain to the tenant experience.

“Smart building infrastructure makes it easier to optimise environmental conditions within CRE, but there’s a growing need for proptech solutions to deliver environmental agency to end-users. Among the features and services that properties can offer, half of CRE leaders now believe smartphone and tablet integration is crucial to the success of their real estate.”

CRE requirements are changing quickly. The only way for property owners to keep up with this demand is by embracing and deploying the right technologies.

“COVID-19 could be one of the most transformative events the built environment has ever experienced. The workplace has been disrupted by lockdown, and will be further impacted by the subsequent economic downturn, changing the status quo of the real estate industry for years and perhaps decades to come.

“It is now hugely important to understand both the threats and the opportunities facing the built environment in order to adapt and mitigate the challenges that organisations of all sizes have and will struggle with. Technology will play a big part in shaping the future of work providing an abundance of opportunities, and the winners in a post COVID world will be those players that make the right investments to unlock the full potential of what Proptech can offer.” – Faisal Butt, CEO and Founder of Pi Labs


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