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Intelligent Buildings and the Internet of Things (IoT) in real estate are much talked-about, and for good reason. Analyst predictions suggest that there will be over 10 billion connected devices deployed in real estate by 2020.
John Adams, partner at Deloitte Real Estate, discusses the growing challenge to support housing delivery across the UK amid an evolving housing market.
At MIPIM we hosted events with Cities ranging from Belfast to Berlin, from Manchester to Stockholm and Barcelona.
As MIPIM comes to a close, Deloitte Real Estate’s delegation reflects on one of the big themes of this year’s event - the evolution of Smart Cities
Speaking at this year’s MIPIM, a clear theme to emerge has been the consistent and obvious challenge that affects cities all over the globe, which is how we can utilise technology to shape the cities of the future.
Well MIPIM 2018 is over for another year. It was a very good show and yet again the North West shone. The programmes pulled together by both Liverpool and Manchester were the strongest I can ever remember. Liverpool majored on the waterfront with the port and the leisure / tourism sector again to the fore. Manchester presented a wide ranging programme but of particular note were the sessions on natural capital and global sport which added new dimensions to what was already a very diverse programme.
A key talking point at this year’s MIPIM event has been the increasing prevalence of technology in the property sector, and more importantly, how we now have an opportunity and a responsibility to utilise technology to plan for the cities of the future.
With MIPIM now in full swing, what is already clearly evident is the strong appetite for international investment in major cities across the North West.
Monday at MIPIM seems to have become a really productive work day over the last few years. Perhaps that owes something to the early flight out of Liverpool which has become increasingly popular.
So what’s to look forward to this year at MIPIM?
Shopping centres account for nearly 15% of total retail floorspace in the UK. Costar estimates that there are more than 1,400 shopping centres across the UK of which only 276 are classified as “Prime” or “Major Urban”. While representing less than 20% of shopping centres by number, these dominant schemes account for nearly 50% of total shopping centre floor space on their database. The space that remains is spread across more than 1,100 schemes which are variously defined as “Urban”, “District” or “Neighbourhood” but all of which, in investment parlance, might be labelled “Secondary” or even “Tertiary” shopping centres. Many of these secondary schemes are now dated and visibly starting to struggle. The logic that led to their initial development is increasingly undermined by the growth of online sales and the preference of consumers for more convenient retail parks on the edge of town centres.
Technological advances remain as captivating and disruptive as ever for the real estate, infrastructure and construction industries; digital disruption is shaping our future. This disruption will be driven by both changes to the needs of the consumer and also changes to how work is carried out within the real estate, infrastructure and construction industries.
The first lesson my fellow undergraduate coursemates and I were taught at university was that ‘planners do not plan towns’. A useful clarification, but what followed was arguably more noteworthy. It was explained that we had picked an exciting time to be involved in planning, even if we were not to be gifted a blank slate on which to design new settlements.