Property Developers see Tech as a Blessing, Not a Curse

Office Market

You might think disruptive technological solutions increase the challenges for property developers in order to meet the requirements of offering top-notch office spaces for tenants, but innovation rather offers them leeway to lure companies wanting to rent with a wide selection of connectivity services.

Connectivity is changing the way we think not only about our private lives, but also how we do business. Innovation has become an integral part of our work life, a fact that gives property developers endless possibilities in fitting out offices in order to satiate the technological hunger of companies buying and renting office spaces.

“Due to changing customer demands, the lack of workforce and the rise of digitalization, the office, retail and residential property sectors are taking advantage of innovation and emerging technologies,” Gábor Radványi, chief architect at Futureal, tells the Budapest Business Journal.  

“Disruptive technologies have reshaped customer expectations; therefore, they have become more open to innovative and sustainable solutions, whether it comes to buying a new property or renting commercial or office spaces,” he explains.

Technological solutions are not a “must” anymore, they have evolved into something much more important. They are a point of reference for comfort, as we are connected to digital ecosystems, and increasingly adopting smart solutions as part of our everyday lives.  

“Trends are going in the direction of sustainable and green solutions providing comfort for the employees of the office building. In development, prefabrication and modularization is a strengthening trend that requires creativity and smart engineering to make the right balance between increasing cost and faster implementation,” Radványi adds.  

“In operating real estate, digitalization aims to increase comfort and optimize energy consumption as a result of increasing environmental awareness. Smart solutions become part of the everyday of our business in the field of operation, maintenance, sustainability, comfort and services.”

Digitalization is transforming our business processes by the day, while it also substantially changes how customers communicate.  

Reorganized CRM

“In view of these developments, we have completely reorganized our customer relations management (CRM). That means: employees, customers and services are now all on the same platform. And we can now act even faster with a better focus on our tenants, which leads to the further improvement of our customer service,” Viktor Nagy, country manager of operations at Immofinanz Hungary, tells the BBJ.

The most visible trends dictate that the everyday life of tenants must simultaneously be made easier, and more cost-effective. Developers are in effect compelled to keep pace with the continuous innovations, and deliver technological developments, in addition to the evergreen matter of wellbeing.  

“Our specially designed ‘myhive’ office app, for example, provides a wide range of information on events in the respective office building and in the ‘myhive’ community. It also supports Immofinanz’s central services, for example through a direct feedback tool. In this way, our tenants register for events, submit suggestions and requests, and also file damage reports quickly, easily and at any time,” Nagy says.

In a statement sent to the BBJ, developer Skanska said it places a special emphasis on connectivity. Each of its projects is realized using smart infrastructure, which it says is beneficial for all tenants. This infrastructure links building functions, including activity-based parking, mobile access control, office space management tools as well as a virtual reception with a community aspect, such as social feed, public transport and a building guide.  

Offering optional services, tenants can get hold of features such as indoor positioning, room booking integration, and a work environment management and optimization system, as well as green education and Skanska’s support in interior LEED and WELL certification, the developer says.

On the other hand, more modern technology does not necessarily mean less green areas. “Companies nowadays put a huge emphasis on designing a green environment, which means office complexes have inner gardens and a roof terraces for example,” Futureal’s Radványi explains.  

“Buildings can be equipped with automated shading technology, energy-efficient mechanical systems, bicycle storage, showers, and electric car chargers. The immediate vicinity of the office building has an impact the health of the employees working in the building. An urban space with a statue, fountain and seating features awaits passers-by and makes the employees feel good as they walk in and out of the building,” he adds.

Due to the increasing number of IT companies the latest office building has been designed to meet the requirements of the digital age. “Features that are crucial for tech companies, such as higher electrical capacity and dual power supply providing continuous, uninterrupted operation, also receive special attention,” Radványi notes.

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