Property technology

is unlocking your building potential

Understanding the benefits

Property Technology or PropTech, is the use of information technology to help individuals and companies research, optimize and manage real estate. Similar to the way FinTech focuses on the use of technology in finance, PropTech uses digital innovation to address the needs of the property industry. 

This information is intended to improve the current operations of a building, such as reduce costs, energy savings, have data available to optimize, improving property efficiency and being able to do predictive maintenance based on the different actions inside a real estate property.

Given the current rate of technological development, this is both an exciting and frustrating time to be a real estate company. The technology now exists to start building the smart cities of the future. But when it comes to leveraging smart benefits in your real estate portfolio—including sustainability, well-being, productivity, and better business—reliance on third-party interfaces is a huge roadblock.

For every smart solution, a property owner develops today, around 70 percent of resources are used to track down the right data and only 30 percent is left over for actually making great something happen.

Vasakronan wanted to remove the restrictions!

Vasakronan, one of Sweden’s largest real estate companies had a problem with allowing them to implement even a single smart building technology. They have an abundance of smart building ideas but are trapped within the confines of an external provider’s system. 

The central challenge boils down to the fact that the majority of property systems are built from the system supplier’s perspective. They are closed, and property owners cannot access their data.

The challanges

Adding to the frustration is that each system operates in a silo, solving tasks independently, so data cannot be combined or exchanged between different systems. Furthermore, every time something changes in the underlying system, results become flawed and an unnecessarily complicated process must be carried out to get everything right again. It’s an expensive way to create a smart building—and it will become even more expensive as the amount of data exponentially increases.

A common language is the key to becoming a smart city

Luckily, a solution already exists that property owners can utilize to take control of their data today. And it’s called RealEstateCore. Originating from 2017 and backed by a consortium of property owners and smart city enthusiasts, RealEstateCore is an open-source semantic language that prepares buildings to interact with one another in the smart cities of the future. 

When property owners have access to this shared language, they can connect their buildings with new services and possibilities on a large scale—without having to worry about the constraints of third-party supplier interfaces, and other building or technology-specific implementation details and formats.

Understand the potential of ProptechOS

Watch the webinar Idun launches ProptechOS to make buildings smart

Watch it here

Idun enables the smart city ecosystem

Based on RealEstateCore, ProptechOS is a SaaS that real estate owners can use to optimize and manage their property operations, develop applications for tenant services, manage the digital representation of their portfolio, and manage on-site edge technology.

Using Idun’s platform, real estate owners can access a set of integrated applications that help them unlock a host of smart building benefits including greater sustainability, well-being, productivity, and better business. An example of an application is the fully automatic LEED certification done in cooperation with U.S. Green Building Council.