1、TECHNOLOGYAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationIntroduction Introduction-Technology:From Disruption to InnovationTechnology:From Disruption to InnovationBy Sigrid ZialcitaTechnology in Real Estate:A Vitamin Pill or a Pain KillerTechnology in Real Estate:A Vitamin Pi

2、ll or a Pain KillerBy QuaiserParvezTechnology:From Disruption to Innovation in the Real Estate IndustryTechnology:From Disruption to Innovation in the Real Estate IndustryBy ShobhitAgarwalNew Generation Real Estate:Harnessing the Power of AINew Generation Real Estate:Harnessing the Power of AIBy Vla

3、dimir PushminDigitally Enabled Buildings and Spaces Take Digitally Enabled Buildings and Spaces Take CenterCenter Stage Stage in a Renewed Asia Pacific Office Landscapein a Renewed Asia Pacific Office LandscapeBy Eric SchafferCommercial Real Estate:A Playground for Technological AdvancementsCommerci

4、al Real Estate:A Playground for Technological AdvancementsBy Vinod RohiraUnpacking the Sustainability Benefits of Smart FMUnpacking the Sustainability Benefits of Smart FMBy Ivan FooTechnology Reforming Indian Real Estate for a Smart FutureTechnology Reforming Indian Real Estate for a Smart FutureBy

5、 Ramesh Ranganathan1 12 23 34 45 56 67 78 8CONTENTSCONTENTSTABLE OFTABLE OFAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationBeyond Storage:How Intelligent Warehousing is Reshaping Logistics Beyond Storage:How Intelligent Warehousing is Reshaping Logistics In IndiaIn IndiaBy Raj

6、esh JaggiZoom in on the Zettabyte EraZoom in on the Zettabyte EraBy Bernie DevineTechnology:From Disruption to Innovation(GLP Case Study)Technology:From Disruption to Innovation(GLP Case Study)By Miao SongCyber Risk the Ever Evolving ThreatCyber Risk the Ever Evolving ThreatBy Simon Meech9 910101111

7、1212Asia Pacific Real Assets Association Limited(APREA)does not take responsibility for the content and accuracy of articles on this website.Asia Pacific Real Assets Association Limited,its respective directors,employees or affiliates do not make any representation or recommendation whatsoever regar

8、ding articles in any of the publications.Asia Pacific Real Assets Association Limited believes the information in the Knowledge Brief publications to be reliable,but we make absolutely no representation or warranty nor accept any responsibility or liability as to its accuracy,completeness or correct

9、ness.Nothing in these publications or website should be taken as a recommendation or to take account of investment objectives,financial situations or the particular needs of any reader.Any information is no substitute for the exercise of judgment.Reader should obtain their own expert advice on all m

10、atters.Asia Pacific Real Assets Association Limited accepts no liability for damage suffered as a consequence of our published publications,research,policies or guidance being used to mislead a third party.Copyright 2022 APREA.All rights reserved.CONTENTSCONTENTSTABLE OFTABLE OFThe use of technology

11、 is also closely linked with the journey to sustainability,becoming an essential component of a companys ESG initiatives.We are seeing more and companies make long-term commitments to address climate change,and its not a surprise that they have turned to technology in making the dream of net zero a

12、reality.What are the innovative ways that technology is being used in the real assets industry?How can firms integrate the latest tools and solutions to improve their business models and systems?How is technology pushing the industry to become more sustainable?The authors in this volume of thought l

13、eadership answer these questions,probing the different ways that technology has disrupted and innovated the real assets industry and how it will play a crucial role in shaping its future.In Technology in Real Estate:A Vitamin Pill or a Pain Killer,QuaiserParvez of Nucleus Office Parks discusses diff

14、erent technologies that are reshaping the real estate industry and have changed the way stakeholders interact with physical spaces.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationTechnology:From DisruptionTechnology:From Disruptionto Innovationto InnovationThe pandemic has acc

15、elerated the adoption of technology in the real estate and infrastructure sectors,transforming almost every facet of the industry today.Now more than ever,developers,investors,owners,and asset managers realize the value of leveraging on innovative technologically-driven solutions to maximize efficie

16、ncy,enable long-term growth,and ultimately,increase the bottom line.IntroductionIntroductionAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationShobhitAgarwal of ANAROCK Capital Advisors then examines the productive ways that technology can be used in the industry,including predic

17、tive analysis,optimization of resources,and construction safety.In New Generation Real Estate:Harnessing the Power of AI,Vladimir Pushminof ArloidAutomation talks about AI implementation in the built environment to safeguard asset longevity and performance,as well as allowing investors to navigate b

18、ut also capitalise on market changes and climactic shifts.Digitally Enabled Buildings and Spaces Take CenterStage in a Renewed Asia Pacific Office Landscape by Eric Schaffer of essensys posits that tomorrows successful real estate portfolios must start with the right digital infrastructure.This idea

19、 is reinforced by Vinod Rohiraof Mindspace Business Parks REIT in Commercial Real Estate:A Playground for Technological Advancements,where technology is a tool to improve the efficiency of operations,raising the standards of green buildings and overall sustainability,and enhancing tenant experience.

20、Ivan Foo of C&W Services expounds on the transformative value of smart facilities management in Unpacking the Sustainability Benefits of Smart FM.According to him,innovative facilities management approaches today cannot solely focus on overcoming immediate workplace challenges-they must also help bu

21、ild a more sustainable impact on the environment and improve how facilities are managed in the long term.Ramesh Ranganathan of K Raheja Corp dwells on how PropTechis transforming the Indian real estate landscape with enhanced efficiency,convenience,and cost-effectiveness.Rajesh Jaggiof EverstoneGrou

22、p focuses on how warehousing is adopting intelligent technologies to keep up with consumer expectations in Beyond Storage:How Intelligent Warehousing is Reshaping Logistics in India.In Zoom in on the Zettabyte Era,Bernie Devine of Yardi asks if the real estate sector can keep up with demand for data

23、 centres and how it can prepare for the challenges and complexity ahead.Miao Song of GLP presents two case studies on how they have leveraged on technology to enhance their businesses and assets,applying data science and security intelligence.Just as there are opportunities,there are also considerab

24、le risks.Simon Meechof the BMS Group explores the ever evolving world of cyber risk:the threats and recent developments in cyber-attacks leading to property damage.As always,we hope that APREAs latest Knowledge Brief will be insightful and enriching for you.May technology provide a powerful boost to

25、 your business!APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationSigrid is the Chief Executive Officer of Asia Pacific Real Assets Association(APREA).Based in Singapore,she is responsible for overseeing the strategic direction,initiatives and operations of the association across

26、 Asia Pacific.Under her leadership,APREA repositioned to an industry trade group focusing on real estate and infrastructure.Prior to APREA,she served as Managing Director of Asia Pacific Research and Advisory Services of Cushman&Wakefield(C&W)from 2010 through 2018,where she was responsible for rese

27、arch,thought leadership,strategy formulation and client management.A recognized expert in global economic,public policy and real estate issues,Sigrid is a frequent speaker at industry events.Her commentary on commercial and residential real estate markets is also regularly featured in a wide array o

28、f global publications,including the Wall Street Journal,Financial Times,Bloomberg,New York Times and Reuters.Additionally,she has made several television appearances on financial networks and radio such as CNBC,Bloomberg,CNN,National Public Radio and Channel News Asia.SigridZialcitaCEOAPREATechnolog

29、y in Technology in Real EstateReal Estate:A A Vitamin Pill Vitamin Pill or or a a Pain KillerPain KillerBehavior outlive crisis.However,real estate which had Behavior outlive crisis.However,real estate which had been mostly“tech free”has evolved rapidly post covid been mostly“tech free”has evolved r

30、apidly post covid with many subsets of real estate technology from with many subsets of real estate technology from “proptechproptech”devices to cloud”devices to cloud-based software based software streamlining businesses and making it process driven.streamlining businesses and making it process dri

31、ven.The proliferation of technology has changed the way The proliferation of technology has changed the way stakeholders interact with physical spaces.stakeholders interact with physical spaces.Essentially,the following technologies are currently Essentially,the following technologies are currently

32、reshaping the real estate industry.reshaping the real estate industry.1 1.So.Sof ft tw wa ar re e a as s a a S Se er rvicevice(SaaSaaS)S)oror c cl lo ou ud d c compompu ut tining g-isgrowingatastaggeringrateandisexpectedtobe$230 Bn by the end of 2022.Thistechnology allows complete control and monito

33、ring of the software andservices thereby leading to both pre and post constructions efficiencies.Itcanhelp analyze andmonitorenterprise risk to enablebetterdecision-making andpredictivemaintenance.2 2.InInteternrne et t ofof T Thinhing gs s-Commercialrealestateisbecomingsmarter,moreconnected,and mor

34、e customer-focused.The future of work will be built on theshoulders of IoT,and our industry needs to evolve with it.According to aCBREreport,the number of IoT devices willtriple by 2030 to 25.4 billion.It can fully connect and optimize the complete life cycle of the property.The availability and stu

35、dy of various data can streamlinethecompletepropertyexperienceandsubstantiallyimprovemaintenance management process.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to Innovation3.Au3.Augmegmen ntedted ReaReali lityty/V Vi ir rt tu ua al l ReaReali lit ty y -Thistechnology has enormouspower

36、 to reduceoperating costs andenhanceefficiency.Continualtechnological advancementshavemade it moreaccessibleandaffordablethan everbefore.It helpsuserstocollect data andvisualize,plan,andrectify property strategies across thelifecycle.4 4.R Ro ob bo oti tic c ProProc ce essss A Au ut to omamat ti ion

37、on-RPAs abilitytoperformand automatedata extraction,datamigration and entry,dataupdate,andvalidation enables commercial realestatecompanies to improve the quality,speed,andefficiency of processeswhilereducingthe risk of errors andworkload onemployees.Although at a nascent stage,thissegment hasbeen s

38、teadily growingin double digits.5.Blockchain 5.Blockchain -The critical fuel to this technology is a large number of data sets in addition to the“Big data.Blockchain is being extensively used to streamline transactions and cut the intermediaries out of the process,thereby reducing the cost apart fro

39、m ensuring secure transactions.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationWhile blockchain and RPA will take longer to establish usage,SaaS-based systems with improved data security,cost-effectiveness,and scalability have widespread use.Implementation of SaaS is the first

40、 towards adoption of other technologies leading to automation.Commercial Assets have been witnessing an increasing technology focus and adoption to augment experience across the lifecycle of the building-from construction and project management to portfolio optimization.Particularly in the operating

41、 environment,it has excellent usability in Property Management.With IoT and AI,developers are automating their property management processes.Building maintenance is becoming increasingly convenient,and solutions are automated.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationFor

42、 Investors,technology helps in efficient portfolio optimization by maintaining better portfolio history and record keeping.It speeds up the sales process and location decisions.There is a tangible benefit in improving portfolio valuation accuracy.Further,occupiers are increasingly turning towards te

43、chnology for better workplace designs by enhancing end-user services,monitoring and optimizing space and energy usage.AI-based solutions help property management;they observe and envisage when critical maintenance systems are ready for replacement.This benefits tenants and the developers mutually as

44、 value addition.As smart buildings are becoming standard,“digital twins”will be the next stage of disruption/innovation.Buildings are so much more than just a physical asset.They are the complete environmentin which people live and work.If we approach“digital twins”from a perspective coveringthe bui

45、lding ecosystem,this will allow us to optimize far more than specific activities such as energy usage.It can help us reimagine air quality,temperature control,furnishings,and facilities in a way that responds to human sensitivities and personas.In the average commercial office building,about 10 to 1

46、5 percent of operating costs are due to electricity,of which almost 70 percent is associated with HVAC and lighting.These are substantial costs primarily driven by tenant use of a building.Digital twins will enable better visibility of how tenants use a building and,in time,simulate and forecast bet

47、ter.In the recent past,ESG(Environment,Social&Governance)and QEHSW(Quality,Environment,Health,Safety and Wellbeing)goals are gaining tremendous prominence across investors,tenants and employees.As stakeholders become cognizant of long term impact of the environment and wellness at workplaces,technol

48、ogy is playing a critical role in collection and analysis of data leading to better compliance,adherence to norms and reporting on critical actionable.However,such a disruption may take some more time.Gradually,it will no longer be sufficient to design,build,and lease space.The space must think for

49、itself and react to the world around it.While we continue to exoticize technology leading to enchantment by big data,we should not underplay the human factor involved especially in commercial office buildings as technology helps real estate realize,visualize,and actualize new frontiers.As profession

50、al and personal lives converge,occupiers shall have higher expectations which shall lead to transformation of the Real Estate industry from a provider of mere physical asset to a more service and community-oriented approach thus needing an optimum confluence of tech with the human factor.APREA Knowl

51、edge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationQuaiserParvez is the CEO for Nucleus Office Parks,the operating platform for fully owned Blackstone offices in India.Nucleus Office Parks currently manages 20 Mn Sqft of Grade A assets across Mumbai,Bangalore,Chennai and NCR.Prior to Nucleu

52、s Office Parks,Quaiserhas held key positions managing business operations,development and service&support.He has worked with CBRE&JLL in their Capital Markets group and involved in multiple assignments of asset dispositions,project feasibility and investor services.Quaiser ParvezCEONucleusOffice Par

53、ksRecent upsurge of smart buildings amongst commercial real estate is driven by a swift incorporation of latest technologies such as the Internet of Things(IoT),Big Data,Artificial Intelligence,Robotics,Automation,Cloud and Mobility,3D Printing in Construction,etc.The real estate industry is going f

54、orward in adapting advanced technology and is slowly moving towards a data-oriented approach.It is a known fact that the use of AI,Robotics and Automation in real estate business is crucial as it simplifies key processes,provides information and data pipelines for property management,aids in strateg

55、ic planning and execution and continuously improve quality of work.To give an example,RPA(Robotic Process Automation)is one of the most recently used technology which has created an outstanding influence in the real estate sector especially the industrial,logistics and warehousing segment.TECHNOLOGY

56、:TECHNOLOGY:FromFrom DisruptionDisruption toto InnovationInnovationi in the Real n the Real Estate IndustryEstate IndustryAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationPotential Potential Assets Assets Te

57、chnologies like AI,RPA,IoT,Big Data,etc.are amazing at examining massive amounts of data which accelerates the process of determining relations,patterns,structures,across various scenarios.PropTechfirms heavily rely on and benefit from AI algorithms that help analyse various assets across geographie

58、s and can capture data which in turn determines if the potential assets are over or under valued.Predictive analysis of assets can be implemented to determine property value,property features,location analysis,demand,and supply of real estate.Optimization of ROptimization of ResourcesesourcesCommerc

59、ial real estate market often encounters hurdles regarding market rentals,occupancy rates as well as tenant retention.These issues are related to property upkeep and competitive rentals in the vicinity.Various algorithms in AI platforms are built to provide a realistic solution.Given that rentals are

60、 a corollary of the cost of upkeep and maintaining property premises;the direct relationship between lower costs and lower rentals helps retain the tenants.Using such technology,one can identify areas in a premise which can be better used which in turn can facilitate development of a cost reduction

61、or resource optimization strategy.Construction Construction SafetySafetyThe global real estate industry is heavily leveraging AI and Machine Learning algorithms to manage problems related to safety and hazard in property constructions.The predictive models that facilitate project safety indicators t

62、o flag risky projects should be further explored so that the industry can highly benefit from this.Business Business DevelopmentDevelopmentA crucial part in any cycle of real estate business is identifying key opportunities for further growth and expansion.Lead generation,management and closure of i

63、mportant leads can be optimised with AI algorithms as compared to manual processes.With better analytical tools and data-driven approach,PropTechfirms can supplement the business in optimal ways by reducing the lead conversion time and by sorting the potential leads with highest conversion probabili

64、ties.3D Printing Technology in Real Estate 3D Printing Technology in Real Estate ConstructionConstructionThere has been noise around 3D printing in Real Estate over the past decade.Although it was initially used for production of industrial prototype,this technology has become a blessing for sectors

65、 like Healthcare&Medical,Aerospace,etc and now is trying to have a breakthrough in real estate construction sector.3D printing concrete is currently in buzz as it has significant faster conversion time as compared to conventional process which can take years to fully construct a building.This state-

66、of-the-art technology has already proved that it can build a home or building from the ground up in a matter of days.It is also sustainable and has a potential of waste-zero building when paired with other waste-reducing processes and building methods.Mr.ShobhitAgarwal,MD&CEO of ANAROCK Capital Advi

67、sors,is a visionary entrepreneur with professional excellence and experience of over 22years in real estate investments.In his past role,Shobhitled the Capital Market division of JLL India with aplomb.Having handled many marquee transactions,Shobhithas been instrumental in leveraging Indian real est

68、ate to the global capital market platform.At ANAROCK Capital,Shobhitsteers the strategic direction through the various investment verticals to ensure that ANAROCKs core philosophy of technology enabled investor-centric decision-making continues to serve the best interest of its clients.ShobhitAgarwa

69、lMD&CEOANAROCKCapitalAdvisorsAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationIn conclusion,the real estate market intelligence is continuously expanding.By implementation of AI,Robotics,Internet of Things,etc.the real estate industry is only looking to grow exponentially in th

70、e coming decades.Use of such technology will positively impact effectiveness and efficiency of resources,property cost management,and identification of quality of potential assets.There is high expectation regarding a strong development in RPA during the next coming years in the real estate sector.A

71、s the relevance of this technology is increasing,the algorithm outputs can give high benefits to real estate businesses in terms of competitive advantage.Moreover,the possibilities of 3D printing technology are noteworthy.Although this technology is in embryonic stages,it is only a matter of time th

72、at 3D printing will gain a considerable momentum in the industry as it offers key benefits in cost savings and environmental sustainability.Real estate has faced numerous pressures in recent times,including increased calls for decarbonisation.No longer is property a passive or uncomplicated investme

73、nt;instead,the proactive integration of smart technology is becoming fundamental to the establishment of long-lived assets.With the built environment responsible for nearly 50%of global carbon emissions,the real assets sector has a significant opportunity and responsibility to accelerate the race to

74、 Net Zero.Already,a portfolios climate resilience is becoming increasingly important.For real estate,that means any steps that can be taken to improve the energy efficiency of a building should be as a matter of urgency,and so should buying into the digital economy.For those looking to proactively m

75、anage their assets,anything from investing in new amenities to changing building use can make a difference to rental value.However,AI is the single most effective measure investors can implement and it is taking hold across the commercial and non-domestic markets.New Generation New Generation Real E

76、state:Real Estate:Harnessing the Harnessing the Power of AI Power of AI Smart technology has the power to redefine real Smart technology has the power to redefine real estate investment.Already,asset owners all over the estate investment.Already,asset owners all over the Asia Pacific region are buil

77、ding portfolio resilience Asia Pacific region are building portfolio resilience through the adoption of pioneering AI.through the adoption of pioneering AI.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAI

78、 Implementation in the Built EnvironmentAI Implementation in the Built EnvironmentAI has numerous applications in the built environment,but one of the most significant to note is that of HVAC optimisation.Of the 39%strictly energy related carbon emissions that buildings are responsible for,28%come f

79、rom operational emissions like heating,cooling,and electricity(source).Inefficient HVAC systems are therefore major contributors to a buildings total carbon footprint.And,notably,a recent surveyfound that energy efficiency is the most important ESG consideration for real estate investors in the APAC

80、 region,with energy performance monitoring coming in just behind.AI trained using Deep Reinforcement Learning exceeds the precedent set by other utilities optimisation methods,and can fulfil both of these ESG related goals.Legacy data or manual scheduling has been proven to be inefficient responding

81、 to negative changes in conditions,rather than working predictively.By contrast,AI that works with live data and uses no estimated averages processes data in real time to maintain an equilibrium of optimum settings.And this data is not just live;its also varied,complex,and captured concurrently.From

82、 construction materials to pipework to HVAC device locations to local weather information,new generation technology enables a smarter overview of building thermal information.The result is AI that learns continuously,always improving the way it manages HVAC performance and defining the most efficien

83、t settings.That means reduced coolant,energy,and fuel consumption,and better occupant comfort.For real asset investors,there are several key takeaways from this approach.Not only does smart AI technology offer a better occupant experience,but it also provides significant energy savings.It therefore

84、has the potential to boost revenue and reduce energy bills simultaneously.At a time when energy comes at a premium and climate targets are on the agenda,many figures in the real asset industry are citing AI as the solution.In fact,AI can be deployed across HVAC infrastructure with no capital financi

85、al outlay music to the ears of many seasoned property investors.A final thing to note is that there is a growing trend for decentralisation in the real assets sector,with the Central Business District(CBD)in many cities losing its primacy(though this is happening as a slightly slower pace in the APA

86、C region).Nonetheless,it is clear that optimising the internal environment of your real estate asset is critical to retain occupancy and safeguard its market resilience.AI has already been put to use in the Asia Pacific.DarulGhufran has become the first smart mosque in Singapore following a ground-b

87、reaking decision to start a journey towards sustainability in 2019.The work was carried out by ArloidAutomation,who centralised HVAC connectivity and finetuned the performance of the algorithm in line with mosque management and tenant feedback.After only a month,this resulted in 12%energy savings,wi

88、th 8,535 kWh saved after 3 continuous months of operation.Above all,the project demonstrated that using a building specific model means AI and clean tech can be put to good use in a broader spectrum of buildings than many might believe.The Future of APAC Real Estate InvestmentThe Future of APAC Real

89、 Estate InvestmentWhat does all this mean for Asia Pacifics real asset sector?Fundamentally,it means the digital economy is taking hold across the region,and smart technology is the single most effective way to safeguard asset longevity and performance.More than that,the adoption of AI has the poten

90、tial to allow investors to not only navigate market changes and climactic shifts,but capitalise on them.Sustainability is becoming increasingly integral to real estate decision making,and stimulating action amongst investors should be at the core of the climate agenda.The next generation of truly wo

91、rthwhile real assets are going to be green,and property investors have the power to make a difference now.Soon,the demand driving real estate will be for those companies who support the climate economy.Working together,smart tech innovators and visionary investors can build a green future for real e

92、state within the Asia Pacific.It starts with AI.https:/Prior to leading Arloidas the Chief Product Officer,Vladimir executed strategic and business development initiatives as a part of ArloidIoT initiative.Prior to joining the company,he was a part of an energy strategy consulting firm,working on la

93、rge scale research and consulting projects for international energy companies and government bodies.He holds a BA in Business Studies from London Cass Business School.His responsibilities include ensuring Arloidproducts align with customer needs.He also oversees business development and global partn

94、ership initiatives.Vladimir PushminChief ProductOfficerArloidAutomationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationThe world of work has changed for many of us,with flexible work arrangements now the norm for employees at most companies.According to Cushman and Wakefield,t

95、he APAC region is leading global demand for office space,and accounts for nearly one-third of co-working spaces globally in key gateway cities such as Hong Kong,Singapore,Shanghai,Tokyo and Melbourne.With a tech-savvy population coming into the workforce,the surge in demand for more flexible,adaptab

96、le,turnkey workspaces equipped with on-demand digital services requires landlords and workspace operators to reevaluate their real estate technology strategy.DigitallyDigitally Enabled BuildingsEnabled Buildingsand and Spaces Take Center Stage Spaces Take Center Stage in a Renewed in a Renewed Asia

97、PacificAsia PacificOffice LandscapeOffice LandscapeAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationDelivering digitally enabled spaces comes with challenges Delivering digitally enabled spaces comes with challenges APAC is growing in smart building technology adoption,andis ex

98、pected to reach a US$78.72 billion market valueby 2030.This is driven by increased requirements for energy efficiency,data analytics and IoT-enabled systems,which results in a myriad of disparate technology solutions within a space.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to Innovat

99、ionAs the real estate industry moves towards digitalisation in buildings and spaces,it results in a high degree of complexity in technology and network management.Digital enablement typically requires heavy IT infrastructure investments,sizeable technology teams&a multitude of IT vendors.This can me

100、an exponential growth in operational expenditure.Most solutions are also deployed with separate network systems,which result in inefficiencies and exposure to cybersecurity risks.According to IBM,the global average cost of a data breach in 2022 could be as high as US$4.35 million.A digitalA digital-

101、first real estate portfolio unlocks topfirst real estate portfolio unlocks top-line line revenue potential revenue potential To attract and retain tenants,building and space owners will be expected to provide digitally enabled,agile“plug&play”real estate across their portfolios.This opens the door t

102、o opex savings through automation and revenue streams beyond rent.With the right digital backbone in place,operators can simplify operational management and optimiseIT spend.The right technology should also help technology teams automate manual error-prone tasks,freeing up time to focus on value-add

103、ed activities.Space operators can also drive topline revenue through diversified revenue sources.Beyond their physical tenancy,customers can get access to a digital tenancy to entire portfolios,which grants them true flexibility in moving seamlessly across spaces and buildings.Operators can also pro

104、vide new real estate products such as full-service leasing that bundle digital services within their offerings,as well as shared amenity and event spacesTomorrows successful real estate portfolios start with Tomorrows successful real estate portfolios start with the right digital infrastructurethe r

105、ight digital infrastructureThe right digital infrastructure,in this context,is the fibre backbone that forms the foundation for in-building networks.Most buildings today take a fragmented approach to this and do not have ownership over most of what is in the risers.Yet,as buildings become smarter an

106、d more connected,connectivity is arguably the most important utility to control in a building.Companies like essensys help consolidate this fragmented approach to a single fiber backbone that can be controlled through an intuitive software layer.This can then be used by technology and asset manageme

107、nt teams alike to easily manage their in-building networks,reduce operational costs,and capture new revenue streams from their spaces.For a good resource on how to digitally enable your portfolio,download this detailed guidefrom essensysto discover how to elevate your service offering to tenants wit

108、h best-in-class digital experiences.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationEric Schaffer is CEO,Asia Pacific at essensys and leads the business across the region.He has worked across real estate functions and asset classes with deep experience in Asia and has structur

109、ed and led over$2B USD in real estate transactions.Prior to joining essensys,Eric was Head of Real Estate Advisory for WeWork in APAC.He has also held leadership positions at multiple firms,including Cushman&Wakefield and Core Capital Asia.He holds an MBA from Columbia Business School and BA from Em

110、ory University.essensys.techEricSchafferCEO,Asia PacificessensysEmerging disruptions in the real estate business have created several industry inflection points,where paradigm shifts in technology are influencing the way real estate businesses operate.Integrating technology while being ecologically

111、conscious is integral to our ethos at Mindspace Business Parks.Constantly seeking ways to improve the efficiency of operations,raising the standards of green buildings and overall sustainability,and committing to use technology as a route to improve tenant experience,ensures we deliver value through

112、 our business offering.At Mindspace Business Parks,technological interventions have been meticulously woven into our larger purpose of building sustainable ecosystems,to which we stay committed.Commercial Commercial Real Estate:Real Estate:A Playground for A Playground for Technological Technologica

113、l AdvancementsAdvancementsAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationCommercial Real Estate:Beyond Built SpacesCommercial Real Estate:Beyond Built SpacesAs providers of space for technology to grow and

114、 thrive,it becomes imperative for commercial real estate providers to not only host,support and sustain the growth in the technology industry,but also to enhance and amplify the positive impact on the environment,and communities.Ensuring that assets,over time,continue to deliver value to tenants,and

115、 constantly remain ahead of global benchmarks,requires one to be updated with the latest on technology.Technology enables creation of dynamic and sustainable commercial spaces ensuring sustainable business growth.Today,commercial real estate developers have the golden opportunity to differentiate th

116、emselves from competitors by leveraging the data generated by IoT-enabled buildings to identify and meet evolving and changing consumer demands and offer their tenants,more sophisticated and customized services and transform the experience of occupants for the better.Curating technology led,pleasant

117、 and versatile workspaces enhances the convenience at work and productivity of employees in office spaces.Insights backed by data,on employee interaction and movement,gathered by sensors placed strategically within buildings can enable automation of repetitive processes thus driving and aiding in in

118、creased workplace effectiveness and productivity.Technology has been an essential part of our business,constantly learning and upscaling our technology integration a notch higher.IoT is being applied to monitor the performance of services,which enables us to move from planned maintenance to predicti

119、ve maintenance.A few applications of this,are for water management,air quality and CO2monitoring.We undertake real-time monitoring and regular checking of each sewage treatment plant across our projects.More recent projects have seen interventions through IoT and sensors,to check quality of recycled

120、 and treated water.All of this amalgamates to ensure efficiencies in operating cost for tenants.We undertake regular asset upgrade programs to deliver to the ever-evolving needs of the workforce.These upgrades are physical as well as digital.Our endeavor is to offer an integrated and energized ecosy

121、stem appealing to the millennial workforce.We efficiently utilized the pandemic-induced downtime to rejuvenate our assets and introduced sustainable interventions;for instance we have gone digital and completely paperless in the entry and exit of the Business Park.The experience now rests on the Min

122、dspace App which among other features,makes navigation at the Business Parks simple and easy.We have also modified vertical mobility equipment for touchless operation,with voice activated elevators,NFC tags and QR codes,seamlessly integrating into the experience our tenants enjoy.APREA Knowledge Bri

123、ef Volume 8 TECHNOLOGY:From Disruption to InnovationIoT as a Catalyst of TransformationIoT as a Catalyst of TransformationGrowth happens where ideas are bornGrowth happens where ideas are bornA significant portion of our tenants are IT and ITeScompanies.While IT companies are at the forefront of dri

124、ving this technology shift,they are also caught in the throes of it and must adapt quickly.As providers of Grade-A office spaces,we constantly evolve our offerings to meet the dynamic needs of our clients,most often influenced from their global counterparts.For example,10 years ago having a high-spe

125、ed Wi-Fi network in the gardens and open spaces was not thought of as a necessity;today,though,it has become indispensable.Both organizations as well as their employees have started appreciating their workspaces more than before.Companies have realized that a workspace plays an important role in sha

126、ping the culture of the organization by fostering collaboration,mentorship,innovation,and growth.Employees too have come to realize the importance of having a dedicated and distinguished work environment.At Mindspace Business Parks,we are extensively focused on fortifying digital capabilities,paying

127、 close attention to data privacy and cyber security risks and taking adequate measures to proactively manage security concerns as well.Another focus for us has been on enhancing building performance,not only through design,but also by leveraging IoT.Buildings with IoT capabilities can reduce securit

128、y risks for both developers and occupants.Asset managers can optimize the interior environment for occupants and cut energy costs by using the data gathered by motion and occupancy sensors at the building level,to control lighting and air-conditioning in real time.Even in terms of operations and man

129、agement,improved tracking and monitoring at a building and portfolio level combined with the application of portfolio analytics can lead to reduced asset risk,more precise valuations,and improved portfolio management capacity.Progress and technological advancement take efforts and continued commitme

130、nt.The time is now,for businesses to get increasingly conscientious of this impact and created a clear framework for implementing their technology growth vision.Progress for the sake of progress is no longer the primary goal.Uplifting the entire ecosystem that helps business and communities thrive,i

131、s the only way true growth and progress can be achieved.Considering the number of individual systems that commercial real estate supports and integrates,the amalgamation of social,moral,and ecological technological development is imperative.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption t

132、o InnovationCulminationCulminationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationMr.Vinod Rohirais the Chief Executive Officer of Mindspace Business Parks REIT.Equipped with an MBA from Booth School of Business,Chicago,and a law degree from the Mumbai University,Vinod began h

133、is career with the K Raheja Corp,over two decades ago.He has during his tenure,pioneered the concept of landmark business districts,premium residential and retail complexes,which have become the reference points in Indian real estate.Vinod is a key member of the leadership team that has built the K

134、Raheja Corp into one of the most respected and leading names in Indian real estate.Having led the development of Grade A commercial real estate across India for the Group and listing Mindspace Business Parks REIT on the Indian Stock Exchanges;his current focus is on driving the commercial business s

135、trategic operations,with a particular emphasis on stakeholders management and business development.Vinod RohiraCEOMindspace BusinessParks REITThe digitalisation of the facilities management(FM)sector has been ramping up over the past few years.However,COVID-19 accelerated the need for asset owners t

136、o pivot to technology as the key enabler in making workplaces more efficient and sustainable for both themselves and users.Especially during the pandemic,FM sector professionals are now adopting more forward-looking approaches to help asset owners make the most effective use of their space and be mo

137、re agile in meeting the evolving requirements of users,such as workforces.Even so,innovative FM approaches today cannot solely focus on overcoming immediate workplace challenges they must also help build a more sustainable impact on the environment as well as on how facilities are managed in the lon

138、g term.Unpacking the Unpacking the Sustainability Sustainability BenefitsBenefits of of Smart FMSmart FMAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationThe transformative value of Smart FMThe transformative

139、 value of Smart FMBroadly defined,smart facilities management(Smart FM)refers to the integration of systems,processes,technologies and personnel to enhance the management of a buildings facilities.While its adoption within the FM sector is now being felt more prominently across facilities as Singapo

140、re recovers from the pandemic,it has been,since 2018,a key initiativeby the government to digitally transform the overall real estate sector,especially in continuing to provide valuable work for people in Singapore.Much of this transformation has been driven by the overall evolution of Singapores ec

141、onomy.Ahead of Industry 4.0,economic sectors are moving away from siloes to integrate more closely with each other via digital ecosystems.Simultaneously,businesses are placing more emphasis on improving experiences for their employees,so that they will be motivated to continuously create new and sus

142、tained value.Amid these trends,the focus by the FM sector to enhance its overall asset maintenance capabilities via technology is sharper than ever before.The enhanced and integrated delivery of Smart FM leveraging solutions such as data analytics,robotics and the Internet of Things(IoT),among other

143、s is poised to help raise productivity and efficiency,reduce physical labour dependence(especially in light of labour crunches)and,most importantly,help asset owners understand their facilities in both present and future terms,something that was not possible with previous technologies and approaches

144、.Raising productivity and improving wellRaising productivity and improving well-being being via automationvia automationOne of the biggest trends emerging from the pandemic is the application of more flexible working arrangements that prioritise employee wellness.This is now a key differentiating fa

145、ctor for organisations in attracting talent.Yet,as organisations and asset owners across Singapore are looking at scaling the implementation of such arrangements,it does beg the question of how building performance can be optimised to improve experiences for workers when they need to visit and use t

146、he physical premises.Boosting productivityBoosting productivitySmarter facilities can positively impact productivity for occupants.For instance,technology can be leveraged to help improve the user experience such as apps to book desks where users can immediately give feedback about their experience

147、and log issues they face as they use the space so that they can be served on demand,rather than served based on strict adherence to a maintenance schedule.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationMaintaining and improving hygiene standardsMaintaining and improving hygie

148、ne standardsEspecially considering the pandemic,hygiene is now an inalienable demand at workplaces.Smart FM solutions namely those that utilise IoT,sensors,the cloud and even autonomous robots can help to monitor aspects such as air quality.Here,air quality monitors can be installed to emit minute-b

149、y-minute analysis,enabling asset managers to make accurate decisions on addressing ventilation upon trigger notifications(e.g.,whenever there is a high carbon-dioxide level,which impedes cognitive functioning and encourages the spread of viruses).Meanwhile,smart toilet systems can monitor cleanlines

150、s in real-time through people counting and feedback provision.Cleaners can be notified via mobile phone application on when to take action,or if feedback is provided.Alongside providing employees with cleaner toilets,such systems can help make the deployment of cleaners more efficient especially for

151、 organisations that may find it challenging to hire more cleaning personnel.For everyday waste,a waste management system can help conduct the physical weighing of waste with real-time data.Such a system also has the added benefit of encouraging and incentivising employees to use alternate sustainabl

152、e solutions and reduce waste thereby multiplying proactive sustainability efforts.Reinforcing facility securityReinforcing facility securityTo ensure greater facility security,there can also be the integration of advanced biometrics.This may include facial recognition entry which allows for convenie

153、nt and keyless office access whilst enhancing security.Additionally,using Automated Registration Terminals can also help replace the need for the manual exchange of passes.There can also be the installation of smart CCTV surveillance that integrates with video analytics to replace human eyes on the

154、ground.This can help to reduce the need for static deployments and patrolling;even when the latter is needed,personal mobility devices and autonomous robots can also help improve the efficiency and efficacy of mobile patrols.They can especially with growing labour force shortage concerns can help ov

155、ercome security personnel shortages,and the nature of such devices and robots makes them available round the clock.APREA Knowledge Brief Volume 8 TECHNOLOGY:FromDisruption to InnovationReducing environmental footprintsReducing environmental footprintsWith climate change entering a critical juncture

156、and being felt in Singapore,organisations have been looking to leverage green technology to improve their energy management both to optimise costs and to reduce their carbon footprint.Smart FM solutions that use motion and photocell sensors integrated with artificial intelligence(AI)and machine lear

157、ning capabilities can detect and pick up atmospheric recordings and adjust energy usage accordingly.These can be fully configurable for each of a facilitys zones,with data analytics monitoring intensity and consumption to optimise energy usage.Additionally given the high dependence on air conditioni

158、ngin Singapores buildings efforts are being done to mitigate their usage due to their high energy consumption and the pollutive nature of refrigerants.Smart FM solutions that help facilities transform provided air-conditioning systems over to Variable Air Volume(VAV)systems with air filtering(MERV14

159、)are therefore useful in controlling environmental airflow,temperature,and pressure for better thermal comfort and above all improved energy-saving.Especially as the pandemic is far from over,such systems can also help reduce virus spreads.Ivan holds a Bachelors Degree in Real Estate from the Nation

160、al University of Singapore and has close to 20 years of experience in the facilities management field.His past portfolio includes strategic business development and operations in various market segments such as Integrated Facilities Management,M&E Engineering Solutions,MCST management,car park opera

161、tions,smart security solutions,cleaning services and commercial laundry.Ivan is also actively involved in SMART FM Technology adoptions and developments and has rolled out several projects in the course of his employment that is aimed at improving service levels and savings in manpower deployments.I

162、van FooDirectorC&WServices(S)Pte LtdAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationTaking FM to the futureTaking FM to the futureToday,advanced technologies are more accessible for workplaces to help them perform better,scale faster and deliver improved experiences for their

163、users.They can also provide asset managers greater insights into operations and deploy the necessary personnel only when needed,thus raising operational efficiency.As workplaces continue to evolve,facility managers will be presented with greater opportunities to innovate their service delivery and e

164、nhance facility operations.By leveraging tech-enhanced Smart FM solutions,they can help drive and sustain more value for their customers and their workers.Technology is at the forefront of enhancing quality of life everywhere and Real Estate is no exception.The last decade has been truly remarkable

165、and technological advancement has shouldered a massive transformation in real estate.Until recently,for instance,mandatory physical inspections would happen for several progress and quality check interventions.Today,drones supplement any and every shortcoming of manpower,capturing real time progress

166、.And then there are AI systems assisting developers in improving customer journey today.No longer do we need middlemen or physical sample units to understand what the final outcome would turn out like.Virtual reality(VR)technology helps homebuyers envisage their dream home and decide how to optimall

167、y design their haven,the way they want to,even when the concrete is not poured.Precision of such magnitude has been unprecedented.TechnologyTechnology Reforming Reforming Indian Indian Real Estate for a Real Estate for a Smart Smart FutureFuture APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disrupt

168、ion to InnovationIt suffices to say that as customers demand a more enriched and sustainable life,technological advancement is increasingly becoming commonplace in real estate and evolving to suit newer customer requirements.With efficiency at the heart of it all,residences will be much more experie

169、ntial as the value chain from developer to consumers increasingly use data-driven tools for better insights about homes and neighbourhoods.Lets understand how property technology(PropTech)is transforming Indian real estate landscape with enhanced efficiency,convenience,and cost-effectiveness.APREA K

170、nowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAutomated residential experienceAutomated residential experienceHome design has evolved way beyond architecture.Operational comfort,living experience and a ton of other criteria combine to accentuate living in a tech-friendly residentia

171、l space.Obviously,home buyers are transitioning to VR and other technologies to personalise and optimise space allocation in properties solely based on blueprints.This is where 3D imaging of plans comes to use.At K Raheja Corp Homes,the Building Information Modelling(BIM)system adds a layer of visua

172、lization to better meet customer needs.It is even possible to monitor and control common areas of buildings remotely through the automation technology such as,lights.Internet of Things(IoT)is instrumental in improving safety and security systems today with cutting-edge,smartphone-based home monitori

173、ng for fire&smoke detection,gas leak alarms,and a multitude of other facilities.When it comes to sustainable living,millennial home purchasers are becoming increasingly interested in green residences.Everything from construction methods to waste management,matter today.Progressive developers take En

174、vironmental,Social and Corporate(ESG)governance very seriously,and smart technologies such as air filtration,lighting&ventilation,temperature control,greenhouse monitoring systems,humidity control sensors,and rainwater management are fundamental now.Over the years,the marketing mechanisms in real es

175、tate have gone fiercely lean,with customer relationship management(CRM)software and customer preference surveys decluttering the workspace,optimising resource allocation,and eventually reducing turnaround time.Doing away with a generalized product offering,technology has helped developers with selec

176、tive marketing,in order to promote the right features to the ideal prospects for absolute clarity.Bringing buyers to the spotlight are two major types of technology,one of them being access to information through cloud-based services.Availability of every piece of information related to residential

177、housing,such as RERA guidelines,when available in real time to prospects staying in remote locations,strengthens a sense of inclusiveness amongst buyers.Accurate information is the key to transparency,and updated status on real estate projects keeps buyers confidence and comfort intact,which strengt

178、hens relationships and builds trust.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationStepping stones to smart citiesStepping stones to smart citiesOn a macro level,technology can enhance real estate and connect residential complexes.Wireless mesh networks go a long way in that

179、direction.For example,such a network can spot dislocated water pipes in one area and alert another area for prompt repair.Data-driven developments will soon dominate Indian real estate,as it can help urban planners build better insulation systems at specific parts of any city.From physical infrastru

180、cture capacity determination,transportation,and mobility to traffic management and more,technology is on its way to transform Indian real estate.The The road road a aheadheadThe future of residential real estate is bright,with technology playing a key role in the evolution of both the developer and

181、the buyers experience.Buildings crafted to be sustainable are in demand more than ever,and the day is not far when intelligence systems in residential complexes will ensure communication with similar urban infrastructure,creating ideal residential ecosystems.Shift from a sellers market to buyers mar

182、ketShift from a sellers market to buyers marketAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationWith close to 2 decades of experience in the real estate industry,Ramesh Ranganathan leads the Residential business vertical for K Raheja Corp,as the Chief Executive Officer.Rameshs

183、focus has been on strategically growing the residential business under the brand name K Raheja Corp Homes,curating bespoke offerings for a relevant audience base.Ramesh RanganathanCEOK RahejaCorp HomesAbout K Raheja Corp About K Raheja Corp HomesHomesK Raheja Corp Homes is the residential vertical o

184、f Indian conglomerate K Raheja Corp group.The business has an earned expertise,with a four-decade legacy in building luxurious,self-contained,sustainable residential spaces.With a portfolio spread across Mumbai,Pune,Hyderabad,Bangalore and Goa,the business has made significant contributions in redef

185、ining the contemporary urban lifestyle experienced by residents of city homes.From cost centersto a strategic link in supply chains,today warehousing has gone beyond simply storage.The strong e-commerce boom in India has led to the demand for more responsive supply chains and the need to efficiently

186、 manage larger inventory of products.The number of digital buyers in India is projected toincrease by 65 million between 2022 and 2025.This growing demand is coupled consumers requirement of faster order fulfillment,with46%of online shoppers in India expecting delivery under 2 hours.To fulfillthese

187、requirements,warehouses are transforming into intelligent and automated facilities.Integrating emerging technologies into warehouses has become a necessity to drive business efficiency and maintain a competitive edge.Warehouses are no longer sterile-looking buildings used for storage,but a sophistic

188、ated ecosystem and hotspot of technology,without which modern supply chains cannot be realized.As a critical link in the supply chain,warehousing is adopting intelligent technologies to keep up with consumer expectations.Beyond Beyond StorageStorage:HowHow I Intelligent ntelligent WWarehousingarehou

189、singis is Reshaping Reshaping L Logistics ogistics in Indiain IndiaAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationImproving Worker Safety using IoTImproving Worker Safety using IoTMultiple factors could af

190、fect the safety of warehouse workers.Potential hazards in a warehouse are workers struck by forklifts,a collision of forklifts,stacked material falling on someone and many other safety issues.One of the many ways IoT can reduce accidents in the warehouse is by equipping potentially risky areas with

191、connected systems of proximity sensors.If a worker accidentally wanders near the route of a forklift or any other risky area,the sensors will sound a warning for the worker to move out of the risky area.Along with reducing worker injuries,these sensors improve inventory efficiency through automated

192、tracking and management of warehouse stock.Another application of IoT in warehouses is IoT-enabled wearable devices.These wearable devices can measure health indicators like temperature,heartbeat,or blood oxygen levels to identify signs of fatigue and stress in workers.The warehouse safety manager m

193、onitors this worker data in real-time and gets a better picture of scheduling tasks and breaks for warehouse workers.DHL has implemented an IoT-enabled wearable wireless sensor system that assesses worker fatigue levels and gives alerts when they are in proximity to risky areas in the warehouse.Arti

194、ficial Intelligence Driving Warehouse EfficiencyArtificial Intelligence Driving Warehouse EfficiencyIntegrating AI into warehouse management systems is the key to adapting to the rapidly changing market conditions and laborshortages.In large warehousing facilities,it can be difficult to monitor all

195、activities.This is where smart cameras come into picture.AI-powered smart camera systems can help you monitor the entire warehouse facility through a command center.Smart cameras can optimize gate and yard management by recognizing and tracking all vehicles going in and out of the facility through l

196、icense-plate recognition.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationSpeeding up operations and decisionSpeeding up operations and decision-making using RPAmaking using RPAand Machine Learningand Machine LearningRobotic Process Automation(RPA)handles highly-repetitive and

197、time-consuming activities.Through RPA,manual tasks of cross-referencing orders with warehouse product catalogs,retrieving any documents,tracking supplier invoices to get them approved quickly,and uploading product catalogswill become automated.This results in seamless financial reporting,reduced err

198、ors in documentation,and improved relations with customers.Acquiring land is one of the most difficult aspects of an industrial warehousing company.Land location is critical since warehouses near commercial hubs can manage demand for last-mile deliveries.Machine learning algorithms analyzeproperty p

199、arameters such as size,location,regional economic activities,government policies,and other macroeconomic characteristics to estimate land pricing.Such algorithms can help businesses make faster,more accurate decisions in the land acquisition process.AR and robotics for the warehouse of the futureAR

200、and robotics for the warehouse of the futureAugmented Reality(AR)is an evolving technology that has immense potential in intelligent warehousing.Using an AR-enabled mobile application,warehouse workers can scan the barcode of an item and receive navigation instructions to pick the order,reducing ord

201、er fulfillmenttimes.Another application of augmented reality is optimizing the warehouse layout.A user can see an interactive 3D layout of the warehouse and make virtual rearrangements to optimize ergonomics.Smart meters leverage AI and analytics to optimize the consumption of electricity,water,and

202、gas.These meters can notify warehouse managers when consumption limits have been breached.Along with monitoring energy usage,smart meters accelerate the billing process as warehouses no longer have to manually conduct meter readings.Smart lighting can also contribute to reducing the utility bills of

203、 the warehouse.Sensors embedded in the lighting fixture detect daylight or lack of motion in an area and automatically reduces the amount of electrical light.Through a connected system of smart lighting,warehouse managers can control light levels in every zone of the warehouse through a command cent

204、er.Apart from automating surveillance and monitoring activities,AI can augment the hiring process in warehouses.With tailored personality assessments that check job and culture fit,AI can accelerate the screening process to select the right candidate for the job.Integrating AI into warehouse operati

205、ons can reduce costs and drive higher revenues,with 36%respondents in a2021 McKinsey Global Survey on AI saying that adoption of AI led to cost decrease of supply chain management.Besides AR,warehouse robot adoption is projected to increase with the installation of 4 million commercial robots in ove

206、r 50,000 warehouses by 2025.Robots in the warehouse can help in transportation within the facilities,retrieval and placement of products,and packaging and labeling.Collaborative bots can help workers with order fulfillmentactivities by delivering the picked orders to the workers at the sorting stati

207、ons,eliminating the time taken for workers to manually retrieve goods and improving overall productivity.The adoption of intelligent systems will elevate the role of the warehouse from a logistics centerto a more innovative part of the business environment.Warehousing pioneers like IndoSpace have al

208、ready started adopting digital technologies to modernize their facilities for customers.Businesses serious about maximizing efficiency and improving customer experience can operate from such facilities without worrying about capital expenditure and development costs.Rajesh Jaggiis the Vice Chairman-

209、Real Estate,at the EverstoneGroup,one of Asias premier investment groups focused on domestic investments in India and Southeast Asia,and cross border North America Asia investments.Rajesh joined Everstone in 2012 as a partner and is responsible for all real estate investments and operations of the g

210、roup.He has over 25 years of real estate leadership experience in India,including strategic planning,acquisitions,finance,sales and marketing,legal,and project and facility management services.Under his leadership,EverstoneGroups industrial real estate business IndoSpace,has become the pioneer and t

211、he largest developer and owner of Grade A industrial and logistics real estate in India and has taken the total commitment to India to above US$3.2 billion.IndoSpace is the only pan-India developer of modern industrial real estate and has a portfolio of 49 million square feet across 44 logistics and

212、 industrial parks with a marquee tenant profile consisting of blue-chip,multinational conglomerates such as IKEA,Amazon,Nissan,DHL,DB Schenker,Delhivery,RajeshJaggiViceChairman Real EstateEverstoneGroupAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationSteelcase,Ericsson,Bosch,an

213、d Aptiv.These facilities are in and around nine major industrial corridors/consumption hubs Delhi NCR,Mumbai,Pune,Bengaluru,Chennai,Ahmedabad,Coimbatore,Anantapur,and Rajpura and well connected through rail,road,air,and sea.In the same survey,IndoSpace was also awarded the Best Innovative Green Deve

214、loper in India for 2020,based on IndoSpaces continuous efforts to integrate sustainability and adopt sustainable technology to reduce carbon footprint.IndoSpace has also been named the Firm of the Year-India thrice in a row by the respected PERE magazine,the real estate arm of PEI,at PERE Awards 202

215、1.In 2018,IndoSpace formed a strategic long-term partnership with GLP,the leading global provider of modern logistics facilities and technology-led solutions.GLP has over US$100 billion assets under management.Through this partnership,GLP has become an investor in IndoSpaceCore,a joint venture estab

216、lished in 2017 by IndoSpace and Canada Pension Plan Investment Board(CPPIB)focused on acquiring and developing modern logistics facilities in India.CPPIB initially committed approximately US$500 million to IndoSpaceCore.Rajesh is also a Young Presidents Organization(YPO)member in the YPO Gold Mumbai

217、 Chapter since 2013.Before joining Everstone,he was the Managing Director of Peninsula Land Limited,a USD 400-million market capitalization listed real estate company,where he led the successful commissioning of projects that totalled28 million square feet of real estate across residential,commercia

218、l,and retail space.Recently under Rajeshs guidance,EverstoneGroup has established EverYondr a joint venture with the YondrGroup,a global leader,developer,owner-operator,and service provider of hyperscale data centers,to develop and operate data centers in India and support hyperscale clients and ser

219、vice in the fast-growing Indian market.EverYondrhas already received commitments of$500 million and will seek to raise an additional$500 million to take the final capital commitment to US$1 billion.Rajesh is a graduate of the University of Mumbai and an alumnus of F.W.Olin Graduate School of Busines

220、s at Babson College,Boston.He was featured as one of Indias Hottest Young Executives by Business Today magazine(February 8,2009 issue)recognition for his contribution to leading Peninsula from a local Mumbai-based developer to a notable national player.APREA Knowledge Brief Volume 8 TECHNOLOGY:From

221、Disruption to InnovationWeve all witnessed technology adoption accelerate at breakneck speed.Theres surging internet usage and smartphone adoption,rampant social media,e-gaming and video streaming.Then theres next generation big data,smart cities and Internet of Things applications in buildings.All

222、of this,and more,is fuelling demand for data centre capacity across the world.Consider these three key statistics:Zoom in on the Zettabyte EraZoom in on the Zettabyte EraAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationCan the real estate sector keep up with demand for data cen

223、tres?Can the real estate sector keep up with demand for data centres?And is it ready for the challenges and complexity ahead?And is it ready for the challenges and complexity ahead?Yardis Regional Director Bernie Devine ponders the possibilities.Yardis Regional Director Bernie Devine ponders the pos

224、sibilities.JLL estimates the market for hosting,storage and cloud computing across the Asia Pacific region will grow by more than 150 per cent in just two years.The number of operational hyperscale data centres the goliaths of the sector has doubled to 600 in just five years,according to Synergy Res

225、earch Group.At the other end of the scale,one analyst firm suggeststhe$31.39 billion data centre colocation market will nearly double by 2025.1.2.3.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationDevine says these three statistics illustrate opportunity for real estate leaders

226、.“In markets like Australia,data centre demand is growing at a record rate,with no signs of slowing.”Yardis latest whitepaper,Zoom in on the zettabyte era,unravels the market drivers and key trends influencing the future of the data centre sector,from sustainability to automation.Data centres are pa

227、cked full of expensive equipment and cost roughly the same price as a hospital in square metre terms,Yardis report outlines.They also come with supersized carbon footprints,making the road to net zero a rocky one.The sector also faces a looming capacity crisis,Devine notes.“We need to build more dat

228、a centres and fast.Investors with billions of dollars in dry powder are in fierce competition for assets,but the process of land release in some jurisdictions can take years.“Land isnt the only constraint.Access to power can also be a big problem,especially when Bitcoin miners are putting huge stres

229、s on the grid.”Another challenge is to manage the growing complexity of back-end processes.“As more money piles into the sector,as operators embrace innovative business models and as they look for sustainable solutions,we expect to see further complexity in administration and accountancy,”Devine war

230、ns.“There are leases,repairs,maintenance,roll-ins and roll-outs,and an awful lot of ad hoc work orders.”With 30+years experience dedicated to real estate and technology,Bernie is a leader in digital transformation in real estate,and using data to create a more competitive and collaborative environme

231、nt.He supports real estate clients with Retail,Commercial,Industrial,Residential and Mixed Use assets,helping them to grow their operations,create efficiencies,and gain better insight into their business.His expertise includes asset and investment management,private equity,operations improvement,pro

232、gram and project management,finance,technology implementation and compliance.Bernie has led large-scale technology projects,as well as led and supported Proptech start-ups,across Australia,the USA,Middle East,Asia and Europe.Currently responsible for the growth of Yardi Systems in Asia,Bernie lives

233、in Hong Kong and is a qualified accountant and economist.He has over 60 publications to his name,and extensive public speaking experience.Bernie DevineRegional Director,Asia PacificYardiAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAutomation is an obvious solution,Devine ad

234、ds.“The players who are most agile and flexible with a laser-focus on sustainability and automation are those poised to capitalise in the zettabyte era.”Download Zoom in on the zettabyte era and contact Yardi to find out how to gain greater insights,better relationships with customers and strong rev

235、enue growth through one integrated platform.TECHNOLOGYTECHNOLOGY:From From DisruptionDisruption to to InnovationInnovation(GLP Case Study)(GLP Case Study)GLP is a leading global investment manager and business builder in logistics,data centres,renewable energy and related technologies,operating acro

236、ss Brazil,China,Europe,India,Japan,the U.S.and Vietnam.We are dedicated to investing in innovative new technologies that enhance our businesses and assets by making them smarter and more efficient.We focus on data analytics,robotics,artificial intelligence(AI),Internet of Things(IoT),telematics,sens

237、or technology and more todrive innovation and disruptive change in the logistics and supply chain industry and to create more efficient and sustainable ecosystems.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to Innov

238、ationCase I Case I Data Science ApplicationData Science ApplicationGLPs Big Data team explores and invents data science solutions for GLP Asset Service Platform(ASP),a customer-orientated asset management platform which seeks to deploy operational excellence and advanced technologies to provide full

239、 life cycle asset management services.The“Know Your Warehouse”(KYW)solution was designed to support the park leasing business in overcoming challenges such as limited travel due to the pandemic.KYW provides“look alike”models developed through deep learning techniques to help customers assess the sui

240、tability of each warehouse for their business without having to be physically present,providing both a time and cost saving solution.This is coupled with a“Smart Search”function in our customer app which is embedded with Natural Language Processing(NLP)and Term frequency-Inverse Document Frequency(T

241、F-IDF)models,to provide warehouse recommendations based on customer behaviours and factors such as location,rentable area and price range.Both data science models have proven useful among customers,providing an accurate and efficient way to help customers locate the most suitable park or building fo

242、r company expansion and optimization of distribution network in key markets globally.Case II Case II Cybersecurity IntelligenceCybersecurity IntelligenceGLPs Global Cybersecurity team employs cutting-edge technology to deliver solutions which protect valuable GLP information assets.The adoption of f

243、lexible working arrangements has introduced new threats to the cybersecurity landscape,the most obvious of which is the increase in phishing attempts through email,phone calls and social media.The Global Cybersecurity team continues to play a key role in fending off potential threats by implementing

244、 preventive measures to predict possible cybersecurity breaches.Threat Intelligence(TI)is a customized service which detects emerging cybersecurity risks from various sources,alerting in-house experts to check GLPs defence capability and,if necessary,deploy countermeasures to mitigate the new risks

245、before these risks are realized in the network.TI also enables GLP to detect the information which has been already leaked on public network,allowing the cybersecurity team to notify victims in a timely manner.TI constantly monitors fraudulent URLs which could be impersonate GLP and potentially caus

246、e reputational damage.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationGLPs TI services are closely connected to the 24/7 cybersecurity intelligence centre(CIC)helmed by in-house engineers.Patterns of a ransomware attack can be detected at an early stage by the CIC,allowing the

247、m to create rules and monitor these patterns to configure new rulesets at network borders.TI and CIC have supported GLPs successful transition to hybrid work during and after the pandemic,protecting employee and client information and assets across markets and locations.GLP continues to invest in te

248、chnology and innovation support our physical assets,create efficiencies in the supply chain and deliver value-added services for all our ecosystem partners.Miao Song is chief information officer of GLP,responsible for all aspects of technology across GLP and oversees the companys global data and dig

249、ital strategy,Before joining GLP,Miao was global chief information officer and board member at Mars Petcare,driving digital transformation and innovation.Prior to that she was VP/chief information officer at Johnson&Johnson.Miao has more than two decades of international IT industry experience acros

250、s diverse industries including oil/energy/natural resources as well as consumer goods and healthcare.She has lived and worked in China,Switzerland,the Netherlands,Singapore and Belgium and held leadership positions at Royal Dutch Shell,Nestle and Golden-Agri Resources.In 2019 she was named“Chief Inf

251、ormation Officer of the Year Europe”by International Data Group and also received reward of“Global CIO 100”Miao holds a Bachelor of Science degree in Information Management from Peking University and a Master of Business Administration Degree from BeihangUniversity.MiaoSongChief InformationOfficerGL

252、PCyber risk has naturally evolved over the years as our reliance on technology,personally and professionally,has expanded.But,the previous 2-3 years have created unprecedented exponential growth in the risk.The shift from opportunistic,low-level,ransomware attackers to highly organised criminal gang

253、s,with complex supply chains and calculated methods have made governments,insurers and the general public more aware of the risks than ever.The Real Estate business is facing the same ever evolving world of cyber risk as any other industry,and this article will explore some of those current threats,

254、as well as perhaps the most concerning,more recent development,cyber-attacks leading to property damage.Cyber Risk Cyber Risk the the Ever Ever E Evolving volving T ThreathreatAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationCyber Cyber-AwarenessAwarenessPrior to 2018,board eng

255、agement with cyber risk globally remained relatively low.Outside the US market,take-up rates of cyber insurance were far below where many had predicted and surveys backed up the view that senior executives were not as concerned about the risk as they should be.RansomwareRansomwareRansomware has beco

256、me the tool-of-choice for criminals because it has mutated over the years due to the resources criminal gangs were able to apply to its development,making it easier to use,more accurate and more severe.As more harmful ransomware developed,and the tactics of using it did too,criminals have been able

257、to demand much larger sums of money.Demands have moved from hundreds to hundreds of thousands or millions of dollars.In the face of this evolution and with mounting losses,insurers took drastic action in 2020/2021,bringing in unprecedented minimum cyber security standards by which businesses of all

258、sizes must adhere this has left many enterprises as being classed uninsurable.As with any other,the real estate industry is vulnerable to these attacks.Businesses of all types are now highly reliant on network providers in order to keep their organisation running and so long as a business can be int

259、errupted by a network outage issue,the ransomware criminals will see opportunity to make money.However,in recent years,focus has turned to the epidemic of ransomware malware that infects a network with the intention of locking all systems or holding data hostage until a ransom is paid this is the cu

260、rrent prevailing crisis causing dramatic increases to cyber insurance premiums.In Deloittes latest board of directors surveyCyber Incidents/events featured as the second greatest threat to organisations just behind“new disruptive technologies”a long way to have come in just a few years.With its ease

261、 of use and high success rate,ransomware has been the dominant tool for criminals to make money from organisations,but things could continue to evolve.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationOperati

262、onal Technology Operational Technology One feasible development of ransomware to real estate is to target Operational Technology(OT).Currently the majority of attacks we see are against Information Technology(IT)systems the computer systems we all use within a business currently that process informa

263、tion and data.OT is a category of hardware and software that monitor and control how physical devices perform.OT has two major issues;it can often be less secure and it has the possibility of causing property damage.In the Real Estate industry,the emerging usage of operational technologies,i.e.build

264、ing automation systems(BAS),is creating efficiencies,but they are introducing new cyber related risk.Dragos,a Cyber Security firm,explain how OT securityis seen as weaker than IT often because security patches often have long cycles,the process to install these patches can often be manual,software i

265、s built for a very specific purpose causing vulnerabilities if used differently,and organisations are prioritising IT systems often failing to even record a log of all the OT assets they own.Theres also consideration around how they are operated by a business,efficiency a priority and security secon

266、d,often due to the high demands on uptime.For example,a Building Automation System(BAS)could cause significant disruption,as a German firm found in 2021 when an attacker accessed their BAS and locked down the controls.The firm had to revert to manually flipping on and off the central circuit breaker

267、s in order to power on the lights in the building.With easier to beat security measures,OT may therefore increasingly become the target for criminals.Kasperskyfound in 2021 that building automation and management technology was the most attacked type of Operational Technology,with the number of atta

268、cks seen globally increasing 7%in H1 2020.With BAS being fitted in more new builds,and older buildings having them retrofitted,the Real Estate sector could increasingly be seen as an easy target via these new Operational Technologies.APREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to Innov

269、ationWhat this all means for Real Estate businessesWhat this all means for Real Estate businessesAs any other business,Real Estate owners and operators have a growing cyber threat,especially in regard to ransomware.Minimum standards brought in by the insurance industry could help organisations reduc

270、e that risk and continue to manage it as threats develop and new controls become necessary.New technologies will however create entirely new opportunities for cyber criminals and understanding the security risks around this new tech will be vital to controlling risk.Engaging with insurance specialis

271、ts is important to understand new threats,new minimum controls and also for exploring new coverages.Standard cyber insurance policies may not cover emerging threats such as property damage and if buildings continue to be more automated.Risk managers should discuss with their insurance specialists to

272、 explore what risk transfer alternatives exist and what risk management procedures need to be put in place to access it.Property Damage Property Damage Compromised OT systems can be used as an easier method of attack,but they can also cause real physical damage.Air conditioning,lighting,elevators an

273、d heating systems are just some examples of Operational Technology(OT)and these systems,controlled remotely by attackers,could be damaged or cause damage to the wider building.With access to these controls,safe guards can be removed or mechanics can be purposely misused until the consequences become

274、 physical.With access to a BAS,an attacker with purely malicious intent can cause physical damage,but a criminal driven by monetary gain can also utilise it.With this access,it is feasible that criminals could demand a ransom,or else cause property damage.This could make the Real Estate industry an

275、even more attractive target generally poor protection around OT,an increased use of OT in new builds or retrofitted in old builds,plus an even more concerning threat property damage https:/www.sec.gov/news/speech/2014-spch061014laahttps:/ Challenges of Vulnerability Management in OT Environments|Dra

276、gosLights Out:Cyberattacks Shut Down Building Automation Systems()Threats against industrial control systems on the rise in H2,2020:Study|Simon is a Chartered Insurance Broker and BMS Cyber Practice Leader.He has been with the business for 5 years following previous experience in cyber underwriting,

277、broking and claims at Beazley and Lockton.Simon runs BMS Global Cyber insurance strategy and leads the placement of the divisions largest and most complex cyber risks.He specialisesin global cyber placements for complex conglomerates and cyber property damage coverage.Simon is an Associate of the Ch

278、artered Insurance Institute,is certified in Information Security Management Principles(CISMP)and is qualified in FAIR Analysis Fundamentals a methodology for measuring Cyber Risk.Simon MeechCyber Practice LeaderBMSGroupAPREA Knowledge Brief Volume 8 TECHNOLOGY:From Disruption to InnovationReferencesReferences