According to JLL’s first Global Real Estate Technology Survey, commercial real estate occupiers are increasingly investing in technology. The survey, which gathered responses from 1,000 participants, revealed that:
– 91% of occupiers are willing to pay a premium for tech-enabled space.
– 92% believe technology will provide a competitive advantage.
– 85% plan to increase their tech budget despite challenging operating environments.
The survey also highlighted the potential impact of AI and sustainability tech on the CRE industry in the next three years. In fact, sustainability is expected to account for the largest share of spending among all categories.
Within this category, nearly half (45%) plan to adopt energy/emissions management technology within the next year. Additionally, there has been an increase in adoption rates for tools used for analyzing energy use and costs across buildings and locations.
JLL’s research identified three key imperatives for driving value with technology:
1) Developing an actionable strategy
2) Building a resilient operating model
3) Driving new ways of working
The report also noted that companies’ priorities have shifted from cost reduction and remote work facilitation towards technologies that align with specific business goals. For example,
the adoption rate for office collaboration technology increased from 40% to 50%.
Other notable findings from the survey include:
– A significant rise (from25%to48%)in healthandwellbeingtechnology solutions.
– Platforms enabling consolidated insights and predictive management as top priority adoptions.
– Immersive workplace technologies such as virtual reality and augmented reality among top five intended adoptions.
Despite these intentions towards adopting new technologies,the majority(80%)of companies feel they are not extracting enough value or achieving their objectives with current programs.This highlights ongoing challenges faced by companies when it comes tocresuccessfully implementing CREtech initiatives.The results were announced througha press release,and ConnectCRE was ableto obtain exclusive access prior its official publication date.
