SUMMARY: DIGITALISATION OF COMMERCIAL REAL ESTATE IN DENMARK This report provides an overview of how digitalisation is used today to move the owners’ and tenants’ daily life, relations, work and reality in a more sustainable direction. The overall findings of the report are that the real estate sector’ journey is still in its early phase. In the real estate sector, the pressure of digitalisation has traditionally not been strong, but this is changing. Driven by investor demand, more and more - in especially larger - property companies today view sustainability in a broad sense (financial, social, environmental, and climatic) as a competitive parameter, and they see digitalisation as the central tool to becoming more sustainable.
The overall findings of the report are that the digital journey of commercial real estate is still in its infancy.
There are, however, considerable differences across the property companies and the various industry areas that deal with properties, just as there, in many aspects, are challenges with digital competences when searching and implementing novel solutions. The report consists of a comprehensive academic literature review, an industry questionnaire and five focused sub-analyses, each of which focus on one area in the real estate lifecycle. The literature review indicates that several international megatrends impact the development in both digitalisation and sustainability in the commercial real estate in Denmark. It applies to e.g., the distribution of platform economy and changed needs as well as demands from the users and tenants of office buildings. However, at the same time research emphasises that the distribution of more advanced digitalisation - e.g., in the form of blockchain - has longer prospects and will require extensive adjustment of e.g., legislation and market practice. Finally, the research highlights the need for new - digital - competences from both employees and management in the commercial real estate, if the digital and sustainable development is to speed up. Based on the literature review, the national context is explored through a questionnaire to thoroughly examine the industry approach to digitalisation among practitioners and experts in Danish commercial real estate. The survey shows how digitalisation challenges established boundaries - e.g., sub-industries and fields of work - and that digitalisation for most people is the same as an administrative system. More significantly, the survey shows how digitalisation may be a strategic priority for some actors, but not all. Digitalisation has gained a lot of ground with both frontrunners and other parts of the industry.
DIGITALISATION OF COMMERCIAL REAL ESTATE IN DENMARK
The distribution of more advanced digitalisation has longer prospects.
Digitalisation challenges the established boundaries and to many people, it is equal to administrative systems.
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