10 Recipes For Property Developers

News, 17/01/2020

10 Recipes For Property Developers

The times have helped to change, especially in the property business. The latest research released by McKinsey said that the real estate and construction industry was vulnerable to being replaced by machines or robots.


"Property companies must adopt property technology (proptech). If property companies adopt technology, I don't think they will be inferior to financial technology companies (fin-tech)," academics and information technology expert Marsudi Wahyu Kisworo said in the Property Outlook 2020 discussion in Jakarta on Wednesday (12/18/2019).


According to Marsudi, going forward, companies must adopt Proptech. As is known, fintech is currently starting to dominate the banking world.


According to him, if the property sector cannot cooperate or apply technology in its business, then the company could lose in competition with the technology players. "Don't let the property company be evicted by proptech. For example, Airbnb doesn't have assets, but it becomes a large property company in the world," Marsudi said.


In addition, Chairman of the Indonesian Broker Real Estate Association (Arebi) Lukas Bong said that property businesses will also embrace protect players. He said, there were five things that could be driving technology trends in the property sector, including digitalization, urbanization, sustainable development or sustainable development, and demographic change. For this reason, Marsudi explained, there are 10 types of technology that can be adopted, including big data or analytics. Then, machine learning or artificial intelligence is used as a property management tool. Then the sensor technology or the Internet of Things (IoT) for smart building. There is also a geospatial information system to a blockchain that is useful for certification in the property sector. "Other benefits, for example, for smart contracts, do not need to use paper contracts, but are digital," Marsudi said.


Next, there is indoor mapping and building information modeling. The technology is useful for mapping buildings using robots or special tools.


Another technology that can be applied is a drone that functions to map an area with a very broad scope. Currently, according to Marsudi, drones have been used in various construction projects.


The other type of technology is virtual reality in order to show a picture of the property directly without having to go to its location. "Being able to see the property's environment without physically going there," he said. Finally, 3D printing technology or 3D Printing can be an option to be applied to development projects. This technology can make it easier for developers to build houses. According to him, the contractors only need to design designs and print them with special tools.

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