BuildingMinds and RICS launch groundbreaking white paper on resilient real estate
BUILDINGMINDS AND RICS LAUNCH A WHITEPAPER ON RESILIENT REAL ESTATE
The whitepaper sets out best practices for delivering sustainable property portfolios with innovative risk management.
AI models that make retrofit recommendations, integration with net-zero pathways and a holistic approach to property valuations are amongst the key recommendations. Other contributors include Moody’s, Cromwell Property Group, GRESB Data, JWA Properties and Schindler Group.
[6 June 2024 – London] Today, property management platform BuildingMinds launches its whitepaper “Resilient Real Estate: Adapting to a changing world through sustainability and innovative risk management”. The paper was developed with industry leaders across real estate. The first two chapters, available now, feature insights from BuildingMinds and the Royal Institution of Chartered Surveyors (RICS).
The whitepaper, which comes at a time of industry uncertainty, explores the role of sustainable practices in ensuring long-term growth and resilience. Five more chapters will be released throughout the year, exploring the interrelation between portfolio sustainability, cost reduction and enhanced value, and the role that digital transformation can play in heightening these synergies.
BuildingMinds emphasizes the role that technologies like AI and advanced data analytics will play in delivering positive outcomes. For example, AI can be used both to model pathways for specific assets to reach net zero and recommend retrofit strategies that could get them there based on the historic data of successful projects. These data-led tools can also help build business cases for the CapEx investment required to deliver ESG initiatives.
BuildingMinds CEO, Marek Sacha, says, “The last few years have been volatile across a range of industries, and real estate is no exception. This whitepaper encapsulates what we see as best practices for the sector moving forward. Digital transformation in particular has a huge role to play in making the way we operate more efficient and resilient. We will need that if we are going to achieve net zero.” RICS focuses on the increasing role that ESG factors play in real estate valuations. These valuations are understood in terms of value drivers, risk drivers and cash flow drivers. Everything from sustainable design to regulatory compliance and low operating costs informs a holistic understanding of a property’s value.
Gina Ding, Senior Public Affairs Officer Europe RICS, says, “We have seen an increased focus on ESG as the result of intensifying regulatory mandates, shifting stakeholder expectations and the imperative for robust risk mitigation in the face of volatility. It is important to continue raising awareness and increasing the understanding between valuers and clients that we are on this journey together with regards ESG and valuation and that our interests on this are aligned.”
Note to editors
About BuildingMinds
BuildingMinds provides real estate owners and managers with a digital brain that helps them drive portfolio performance. Crucially, the cloud-based platform enables them to align business needs with the demands of a sustainable future. Established by the Schindler Group in 2018, the BuildingMinds platform was created to propel the real estate industry towards a digital future. Now, the company has a team of more than 150 experts who use the power of data to create a more sustainable and profitable real estate industry.
About RICS
We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction, and infrastructure. Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.
