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Proptech Technology Drives Changes in Office Real Estate

Proptech Technology Drives Changes in Office Real Estate

Entering the “new normal” phase, many businesses are gradually having a change in their demand for office space in office real estate. Specifically, it is the application of smart solutions to operations, contributing to improving the working experience as well as ensuring the health and safety of employees.

New changes and solutions for post-Covid office real estate

New changes and solutions for post-Covid office real estate

The working habits and needs of office workers have changed after more than two years of responding to the situation of the Covid-19 epidemic. Due to concerns related to the epidemic, strengthening regulations to ensure health and safety has become one of the top concerns in the process of using commercial building space. Besides, the most common desire of businesses for the building management team is to improve the response speed and ability to quickly respond to tenant support requests.

To be able to retain tenants of office space, investors need to focus on factors such as optimizing space use as well as enhancing the experience at the building. Applying intelligent technology in operations, also known as PropTech, will help support requirements from businesses and enhance the effectiveness of occupational health and safety.

PropTech technology

Firstly, with the smart technology method Proptech, businesses can easily access and capture information about the building through the application on the phone. Instead of communicating through traditional methods such as message boards or directly contacting the front desk, employees can easily receive new notifications, including changes in management or monthly bills with just a few taps.

In addition, Proptech contributes to simplifying the exchange process between businesses and building management. Thanks to continuous automatic updating and online document storage, administrative procedures are quickly resolved. In addition, Proptech can create a dedicated communication channel for businesses when they want repair support or service suggestions. On the contrary, the management board will quickly receive and promptly handle the requests of tenants at the building.

On the other hand, the factor of occupational health and safety can also be improved through Proptech. An office building has many potential risks of disease transmission because there are many common areas such as the main lobby or the elevator. In addition, the high demand for communication and the frequency of employee movement make these buildings a distinctive space. Therefore, the management team needs a tool to monitor and control the number of people moving at any time of the day.

Proptech can store and update data online, allowing management to understand the data in real-time. Based on these numbers, they will come up with a solution to improve the employee’s workspace. In addition, this technology is also an effective communication method to continuously update occupational safety rules, including new directives from local authorities or fire prevention training programs.

Office real estate in the future

Office real estate in the future

In terms of the future needs of office use, more and more businesses are tending to change the way they work. A typical example is the Hybrid Work Model. More than 67% of real estate professionals believe that their tenants are planning to adopt a hybrid working model to adapt to the current pandemic impact.

Discussing the impact of this future trend on management and operation, based on the frequency of visitors and monthly electricity and water consumption indicators, we noticed a clear decline in the number of employees. Operating efficiency of office buildings, as businesses are implementing parallel work plans online and in person. This creates a certain influence on the operation of the building. Many businesses have been implementing a variety of adaptation plans to the changes caused by the complicated developments of the epidemic. This leads to changes in the demand for office space. In today’s era of accelerating digital transformation, smart technology solutions like Proptech will help management easily communicate, quickly handle requests of office workers, and continuously Update procedures to ensure occupational safety. From there, the working environment, as well as the user experience of businesses at the building, will become more convenient and modern.

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