Proptech has become ‘business imperative’ for real estate
Technology has become increasingly crucial for commercial real estate firms, according to Zain Jaffer, the founder and CEO of Zain Ventures, an investment firm with more than $100 million in assets under management.
“Proptech used to be a value-add in the commercial real estate space,” says Jaffer. “Now, it’s a business imperative. Property technology as it relates to the commercial tenant experience has quickly become a post-pandemic expectation. CRE firms that have made the necessary updates and investments — integrated building app platforms, smarter safety solutions, more data regarding space utilization and streamlined tenant management — are already being rewarded in the early stages of the rebounding market demand.”
Jaffer, who is also a partner at Blue Field Capital, where he works as chairman of growth equity and principal of The Bluefield Strategic Fund, notes the pandemic has affected the adoption of proptech by commercial real estate firms.