The pandemic has been a catalyst for change in the development industry by accelerating trends, intensifying challenges and renewing the urgency for digital transformation and technology adoption, according to Altus Group in its Global Property Development Trends Report, which is based on a global survey of over 400 property development executives.
“It’s evident from the report that the global development sector is facing a complex set of challenges due to long-term market pressures, many of which are exacerbated by the pandemic and its evolving impacts,” said Scott Morey, executive director at Altus Group. “However, the industry is recognizing opportunities balanced with a cautious approach while leveraging digital-based solutions as a foundation to help carry it through this period of uncertainty and into the recovery stage.”
Current market forces, combined with COVID-19, creating significant uncertainty leading to a wait-and-see approach
