BPF and UKPA join forces to drive innovation in real estate
Together we are stronger: this is the belief behind the merger that’s been announced between the British Property Federation (BPF) the voice of the UK real estate industry, and the UK PropTech Association (UKPA), which represents all parts of the proptech ecosystem.
The merger, which will be formalised in June after a consultation period, will combine the BPF’s membership of around 400 property owners, investors, developers and advisors with over 1,000 entrepreneurs, solution providers, venture capital investors and proptech innovators in the UKPA’s community.
“We’ve been cooperating with the BPF for years, organising joint events and cementing a strong partnership,” said Sammy Pahal, managing director, UKPA. “We’ve now decided to go one step further to meet the challenges we are facing. For digital transformation to really happen, we need as wide an audience as possible.”
The merger will lead to the creation of a new integrated strategy for driving innovation and the adoption of technology across the property sector.
“Our role is to help property companies to grow and thrive and we cannot do that without embracing innovation and technology,” said Melanie Leech, chief executive, BPF. “We need to create a platform with a shared language and we can work more effectively bringing the two organisations together to exploit all the opportunities.”
The future health of the property sector and its ability to tackle fundamental challenges, such as the decarbonisation of the built environment, will depend on its commitment to embracing new technologies and fully harnessing the power of data, Leech said.
The move will see UKPA become a legal subsidiary of the BPF, but both organisations will continue to operate under their own names.
The integrated platform and shared programme of events will use both brands and it will make it easier for members of both organisations to engage and find solutions to their problems. “There’s a great appetite for this,” Leech said.
For the last six years UKPA has been bridging the gap between tech companies and the property sector, driving the digital transformation of the industry and creating an environment conducive to innovation.
The merger with the BPF presents two great opportunities, said Ami Kotecha, chair, UKPA: “The first is that the future of real estate has to be tech-enabled. The second is that we’ll have the ability to lobby the Government with one voice, which is critical to speed up decarbonisation and address planning and policy issues, We can provide evidence, data and new business models.”