Altus Group Report Reveals Shifts in Trade Policy, Technology and Financing Are Disrupting Global Real Estate Development Industry
International trade uncertainty, widespread construction skills shortage creating perfect storm for escalating project costs; property development leaders split on potential impact of emerging technologies
TORONTO, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Altus Group Limited (“Altus Group”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, today released the Altus Group Real Estate Development Trends Report, which provides an outlook of a global property development industry being hit by rapid change from disruptive market forces that did not exist a few years ago or have evolved substantially.
According to the report, which is based on a global survey of more than 400 property development executives, 68% said cost escalation is the biggest business challenge they are facing over the next five years. Several related factors account for this, which in combination are creating a ‘domino effect’ for developers:
- 34% of developers view cross-border trade policy as having a negative impact on the industry as uncertainty continues about future implications stemming from international tariffs and trade agreements
- 65% of developers are facing challenges with labour shortages, which are exacerbated by government policy and booming demand
- 60% of developers are concerned about the development approval process which is often complex and protracted
“It’s clear from the report that the global development sector is facing an increasingly complex set of challenges and rapid change, from escalating construction costs through to a sea-change in the development financing environment,” said Bob Courteau, Chief Executive Officer, Altus Group. “However, development leaders clearly see significant opportunities to manage risk and take advantage of changing conditions through a number of future-ready strategies including investments in technology and performance management along with consideration of new ways of managing and financing projects.”
When asked about the impact of emerging technologies on the property development industry, many respondents expressed a significant degree of uncertainty around some technologies that are experiencing successful application and adoption in other industries. Only a minority of respondents recognized a potential for major disruptive change with certain technologies:
- 3D printing – 65% see little to no impact / 16% anticipate major disruptive change
- Process automation – 56% see little to no impact / 22% anticipate major disruptive change
- Augmented reality/Virtual reality – 45% see little to no impact / 20% anticipate major disruptive change
Development industry leaders seem to have significant reservations about the potential impact of 3D printing, a rapidly evolving technology which is already being applied successfully to smaller scale development projects in countries such as China, Netherlands and USA.
Respondents, however, appeared to acknowledge the potential of more established technologies. Smart building technologies were regarded as the most disruptive, with 49% expecting major disruptive changes, and 42% anticipating a significant impact on efficiencies and how development is conducted.
Finally, the report also indicated a decade-on shift since the financial crisis in financing patterns, away from traditional and institutional lending, with 82% of respondents reporting they were utilizing at least one source of alternative financing while 46% are using traditional or institutional financing. Further, over 45% indicated they were considering, planning or utilizing some form of alternative financing exclusively.
This shift has coincided with a rapidly expanding range of financial options and sources coupled with a substantial increase in global capital inflow into real estate in recent years. Many alternative lenders and private funds have actively positioned themselves toward the space of traditional lenders, with investors increasingly seeing real estate as an income source as well as an opportunity for premium returns on the equity and joint venture structure side. In addition, there has been an increase and acceleration in the adoption and utilization of real estate joint ventures with 62% of development executives indicating they are considering entering into partnerships or joint ventures.
The Altus Group Real Estate Development Trends Report is based on a global quantitative survey of 417 property development C-level and senior executives in both front and back office positions at property development firms and owner operators and owner investors with property development divisions in North America, Europe, Middle-East, Asia-Pacific and Latin America. All firms represented in the survey had a minimum development pipeline equivalent to at least US $250 million each under development at the time of being surveyed. The survey research used to help form the basis of the report was conducted by leading international research firm, IDC, in May 2018. A copy of the full report can be downloaded at https://www.altusgroup.com/global-real-estate-development-trends-report/.
About Altus Group Limited
Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,500 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the TSX under the symbol AIF.
For more information on Altus Group, please visit: www.altusgroup.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Altus Group Limited
Vice President, Global Marketing & Communications
Sabena Singh: 416-969-2735; firstname.lastname@example.org
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Ondot Announces Investment from Citi Ventures to Power Enriched Transactions22.10.2018 17:00 | Pressemelding
The investment will fuel Ondot’s international growth and give cardholders accessing info via Ondot’s platform increased control over and visibility into each transaction Santa Clara, Ca, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Ondot Systems, the global leader in mobile payments services, today announced that it has secured a strategic funding investment from Citi Ventures. Ondot works directly with financial institutions to give consumers increased control over and visibility into their personal payment transactions. With Ondot, consumers can manage functions such as fraud alerts, transaction limits and purchase location restrictions, all from the convenience of an app on their smartphone or desktop. This investment will further support Ondot’s efforts to grow its international presence and product offerings. Today’s digitally connected consumers are looking for more ways to access detailed information about their digital lives — including personal payment transactions. Ondot’s platform add
Auth0 Supports Global Growth with Office Expansions in US and UK22.10.2018 15:00 | Pressemelding
New offices accommodate rapid employee growth and reinforce customer commitment BELLEVUE, Wash. and LONDON, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Auth0, a global leader in Identity-as-a-Service (IDaaS), today announced it has moved into larger offices in Bellevue, WA, and London, UK, to accommodate current and future growth. The company’s headquarters in Bellevue has experienced an upsurge in employees over the past year, signalling its continued growth trajectory in the region. Recently named a Gold winner in the Seattle Business Tech Impact awards, along with additional industry recognition as a great place to work, Auth0 is attracting top talent in the area. The new office occupies the entire 6th floor of the U.S. Bank Plaza, located at 10800 NE 8th St. The new London office at 182-194 Union St. is a former Victorian-style warehouse, located in the South Bank district. This opening also launches the new “Auth0 Identity Centre,” a 50-seat event space where the company will host customers
Mitratech Announces TeamConnect Essentials for Mid-Sized Legal Departments22.10.2018 15:00 | Pressemelding
New SaaS Legal Operations Solution Can Save $250,000 Per Year in Staff Time Savings and Reduced Legal Spend AUSTIN, Texas, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Mitratech today announced the launch of TeamConnect Essentials, an easy-to-use, quick-to-implement SaaS legal operations solution designed for legal departments who want to leverage built-in best practices validated by 30 years of Mitratech’s client experience. Essentials is built on Mitratech’s TeamConnect platform and acts as a central hub for all legal operations, including integrated matter management, outside counsel management, e-Billing, Microsoft® Office integration, and reporting, delivered as an adaptable, cloud-based solution. “Thirty percent of FORTUNE 500 companies currently use TeamConnect as a platform for legal department innovation. We’ve taken our experience with those customers and others, coupled it with a streamlined implementation program, and created a unique solution for legal departments earlier in their tr
Paysafe’s Differentiated Solutions and Customer Service Recognized by Independent Research Firm22.10.2018 15:00 | Pressemelding
Recently Published Report Also Acknowledges its Bold Strategy and Vision LONDON, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Paysafe Group (“Paysafe”), a leading global payments provider, has been named a ‘Strong Performer’ in a recently published third party report: The Forrester Wave™: Global Merchant Payment Providers, Q4 2018. In the report, Forrester acknowledges Paysafe’s bold strategy and vision and gives it the highest possible score in the omnichannel solution criterion. It also describes Paysafe as a “best fit for merchants that are positioned to take advantage of its many value-added services and consumer businesses” and states that the Paysafe product offering “is one of the most differentiated solution value propositions” of any provider in the report. The Forrester report also comments on Paysafe’s customer service focus, stating client references “were extremely pleased with Paysafe’s transparency and customer service.” Joel Leonoff, President and CEO, Paysafe Group, commented: “W
INVEX partners with Ondot to Launch the First Instant Digital Card in México22.10.2018 14:00 | Pressemelding
Solution accelerates digital transformation, acquisition and use of payment methods in México Santa Clara, California and Mexico City, Mexico, Oct. 22, 2018 (GLOBE NEWSWIRE) -- INVEX (BMV: INVEX A) Credit Card business, the only monoliner specializing in payments and cobranded cards, with focus on 100% digital customer experience in Mexico, has partnered with Ondot, the global leader in mobile payments services, to deliver full card life-cycle management associated with the ‘Instant Card’ on a single platform. The digital card services solution creates an end-to-end customer journey -from product presentment, selection, digital acquisition to instant issuance and secure payments. Conversational platforms are becoming the new digital banking user interface. As consumers spend more time on messaging apps, IoT devices and social media, they require similar solutions from their financial institutions. INVEX solution is built on Ondot’s mobile card services conversational platform and creat
Spartan Essential Turn-Key Design Significantly Reduces Time-to-Market for Equipment Manufacturers22.10.2018 14:00 | Pressemelding
Compact Design with Exceptional Wi-Fi Performance SAN JOSE, Calif., Oct. 22, 2018 (GLOBE NEWSWIRE) -- Quantenna Communications, Inc. (NASDAQ: QTNA), the innovator and global leader of high-performance Wi-Fi solutions, has introduced Spartan Essential, a fast to market turn-key design to address multiple consumer Wi-Fi applications such as mesh, access point for wired extenders and simple boosters for upgrading existing gateway wireless LANs. This new compact product eliminates the need for lengthy feature developments, testing and qualification by Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs) and software integrators. Spartan Essential is a complete turn-key design that uses Quantenna’s award-winning QSR1000 Wave 2 chipset solution and supports dual-band dual-concurrent 4x4 802.11ac and 2x2 802.11n. The Spartan Essential design offers the following advantages: Compact and aesthetic industrial design High-performance internal antennas Single PCB design fo
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom