Proptech increasingly being adopted to meet ESG targets
Proptech is increasingly being adopted by the real estate industry as it searches for faster methods to meet ambitious net-zero carbon targets.
A joint report published by The Urban Land Institute (ULI) and law firm Goodwins, based on a survey of 200 ULI members from around the world, has found that the use of various proptech tools has become essential for many companies. Proptech: Changing the Way Real Estate is Done reveals that technologies are being integrated in all business areas, particularly in providing the tools to address climate change.
The pace of proptech adoption is also set to increase over the next three years, with the real estate players pursuing multiple strategies to remain ahead of the curve, including direct investment in technology companies, investment in venture capital funds and in-house technology development. ULI and Goodwins found that 40 percent of companies are partnering with — or investing in — technology companies in order to dev