Telia claims property market in Nordics and Baltics in urgent need of transformation

News

The urgency is driven by new demands for efficiency, sustainability and comfort – and the arrival of digital natives.

A new report commissioned by Telia found that although 87% of property owners and facility managers recognise the urgency and the potential value of digitalisation, but 70% are yet to make any transformation plans.

The report was conducted by Arthur D. Little and describes measures that can be taken towards a much-needed industry transformation.

It says that after years of “effortless returns from rising facility prices”, the property industry is experiencing a setback triggered by the pandemic.

WFH changed the game

As working from home suddenly became the norm for many, and long-established behaviours and business patterns changed instantly, but will remain.

Hence property owners and managers need to offer greater flexibility, better cost-efficiency and more satisfaction from tenants than ever before, with digitalisation as the main enabler, includingIoT and data-based insights, such as about people’s movement.

Kristofer Ågren, Head of Data Insights at Telia, explained, "When combining insights from IoT data and anonymous mobility data, our customers can develop a deeper understanding of how a building is operating, make more accurate forecasts, and learn how mobility patterns inside and outside a building affect utilisation.

“Such insights have not only proven vital during the pandemic but are also crucial to managing efficient and sustainable buildings”.

Digital rivals

Agron Lasku, Partner & Head of Telecom, IT, Media and Electronics at Arthur D. Little, said, "During the last decade, a new generation of digital-first companies made their way into the real-estate market, disrupting the century-old business models with digital services for renting, leasing and managing facility-related activities.

“To defend their turf and to capture new revenue streams, facility owners need to step up their game, rethink the scope of their operations and accelerate the digitalization of core services.

“This report conveys the voice of the industry and points out a number of use cases that facility owners can deploy for new strides in their digital journey”|.

Björn Hansen, Head of IoT at Telia, added, "We want to help real-estate customers and facility owners to meet these new demands and to be more cost-efficient and environmentally friendly, but the time to start is now – if someone's going to disrupt your industry, it should be you."