ARTICLE
PUBLISHER:
INSEAD Knowledge
DATE:
July 27, 2016
TITLE OF THE ARTICLE:
Commercial Real Estate Needs a Digital Transformation
Category: Economics & Finance
AUTHOR:
Dr. Philippe Bouvier
Commercial Real Estate Needs a Digital Transformation
From landowners to urban residents, all stakeholders would benefit from bringing digital, collaborative and transformational elements together in the traditional real estate value chain.
In a real estate project, collaboration and coordination between stakeholders should reject the silo perspective and consider the overall value chain in order to optimise the value created and captured in the ecosystem. When a dominant company or organisation is present in each market of the real estate value chain, it should assume responsibility for convincing all stakeholders and coordinating their efforts using digital tools and technologies. The end result of such systemic management would be a more sustainable real estate development or city from which all stakeholders would derive tangible and intangible added value.