January 11, 2022
As the saying goes, the three things that matter most in real estate are “location, location, location.” That’s changing, however. Now it matters just as much, if not more, if a building is equipped to deliver the kinds of technologically advanced, personalized experiences that modern customers and tenants have come to expect.
Investors poured $9.5B into property technology — or “proptech,” as it’s known — in 2021. The global smart building market is expected to reach nearly $142 billion by 2028. Occupants want the connectivity, comfort, and ecological sensitivity of smart buildings, while owners want the efficiency, information, and savings they provide.
Let’s dive deeper into the concept of smart building design and how it can be used to improve the world.
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Smart building architecture involves planning for, and facilitating the inclusion of, complex systems that maximize the efficiency of a facility’s operation while also improving the well-being of its occupants. Though the term can refer to the actual construction of a building, it increasingly references the design phase, ensuring a new building’s earliest conceptualization factors in smart infrastructure.
Smart building architecture allows for the future implementation of systems such as those in the Capital Tower in Singapore, for example. They include:
When designing buildings for smart technology, there are some things that architects need to be aware of and take into consideration.
The increased cost of smart building architecture is well worth the payoffs that result. Here are some of the benefits of using this method of architecture.
There are four main components of smart building architecture:
All of the above four components are needed for smart building architecture to provide its full value. IoT sensors and user interface gather data, the analytics software turns data into something that is digestible, and connectivity allows for it all to be stored, shared, analyzed, and used.
Smart building design architecture has the potential to allow commercial real estate owners to take their business to the next level.
The systems in smart buildings gather data that is unique to each location. Developers can gain greater understanding of the needs of local populations and businesses, taking trends into account when making decisions for further development..
A commercial real estate developer may also find that smart building architecture allows them a bigger net operating income (NOI), due to the lower costs in operating experiences that go along with this new form of architecture. Some CRE owners have been able to take the information gathered by smart building technology to claim utility bill credits and switch to the best utility rate based on the building’s specific energy use, for example. In addition to that, the tenant-centric approach of smart buildings can be a differentiator in a crowded landscape.
Property development is a complex balancing of expenses and profits, but smart building architecture is a wise investment. Not only does it make structures more appealing for occupants, but it also makes them more financially efficient. Everyone wins. Smart, isn’t it?
Are you ready to learn more? Get in touch with Resonai today and set up a free demonstration.
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