Commitment to smart building tech sustained despite subdued outlook

Despite a downcast economic outlook, developers are still investing in smart technology, with a particular focus on sustainability solutions and strategies for improving the office experience. According to a report by Moody’s and WiredScore, landlords who invest to future-proof their buildings via technology Media Circle Condo can expect to see vacancy rates drop by 3.8%, higher rents, and tenant retention growing by an average of nine months.

As can be seen, smart technology has become increasingly integral to prime office spaces and landlords are focused on investing in features that will maintain the value of their assets and attract tenants, even in challenging markets. Sustainability solutions, such as metering and analytics, are essential components of this, as is continued investment in technology that will improve the office experience for tenants.

Thomasin Crowley, Global Director of APAC at WiredScore, notes that by following projects from design to completion, they are able to understand the maturity of particular solutions and the most popular use cases in different markets. Furthermore, they can advise their customers on their Accredited Solutions programme, saving time and resources which would otherwise be spent on current research and the subsequent procurement process.

One example of this is New York’s Local Law 97, which requires most buildings over 25,000 sq ft to meet tough new energy efficiency and emissions targets by 2024, and even stricter ones by 2030. Sydney, too, has recently voted in planning controls that will require new buildings and major redevelopments of over 1,000 sq m (10,760 sq ft) to meet new energy ratings from 2023, before reaching net-zero by 2026.

Singapore is also taking action to ensure that buildings are responsible and accountable for energy consumption. The government has set targets for 80% of new-builds to be Super Low Energy buildings that meet best-in-class energy efficiency standards.

In terms of hybrid working, smart solutions offer tenants the ability to make educated decisions about where and how they want to work, making the office just as appealing as being at home. To accommodate this, landlords are investing in access control systems and apps that connect people to community events and amenities, such as fitness classes.

It is evident that smart technology is an essential part of high-quality, energy-efficient buildings, helping to maintain their value and attract tenants in the current economic climate. Developers are well aware of this, and are investing in solutions that will not only make their properties more sustainable but also improve the user experience.