In a recent edition of McKinsey’s new series “The Next Normal”, leading executives and McKinsey experts discuss the future of the real estate industry. While the edition explores high rise 2030, it clearly states and reinforces the trend that has already been in the industry for a while – a shift towards creating people-centric places.
The real estate industry has been traditionally about developing, operating, maintaining, and selling assets. It has focused on buildings and places. According to industry experts, the biggest change we’re going to see in the future is that real estate companies will serve people instead of established buildings.
Already today some real estate developers have started to bring human-centered design into project development, recognizing that citizens are frequently willing to pay more for a secure and vibrant environment. Yet, companies have rarely prioritized human outcomes in a meaningful way. Focusing on resident welfare and viewing buildings as experiences and communities that serve the tenants and make their lives better is a route in succeeding projects that yield a cycle of benefits for residents, investors, and society.
Serving the tenants and creating attractive communities require real-estate companies to find ways to engage with the customers and tenants and to have data-based validation of concepts and development options. Real estate companies that make informed people-centric decisions will not only create more liveable spaces but also ensure high-value deals. And CHAOS solutions help real estate companies in achieving such results.
Companies can engage residents and local actors by sharing development ideas, collecting feedback, and co-creating urban spaces. With CHAOS Crowd™, available for free, projects and surveys can be created and published with just a few clicks.
Image of the engagement app and web tools.
CHAOS allows companies to obtain deep level crowd insights on urban environments and dynamics, such as demographic profile and area character, and analyse socio-economic compositions of areas or whole cities.
Example of CHAOS demographic profile insights.
With CHAOS solutions, companies advance in sustainable decision-making in investment and construction projects while creating spaces designed for citizens and thriving communities. Adopting a people-centric approach into the real estate value proposition is an essential strategic decision to future-proof the business.
Forecasting is a process of using historical data to make informed predictive estimates about the future. If used correctly, it can help us design more liveable sustainable, antifragile cities.
What should be considered when investing in real estate? How to become a pioneer, developer and inventor? How to stay ahead of the game and create permanent, sustainable and user-oriented investments that guarantee a stable cash flow? Data and technological tools can be harnessed to solve this equation.
In today’s fast-paced business landscape, data is the driving force behind informed decision-making. Harnessing the power of location intelligence is no longer an option—it’s a necessity.
