Real estate five+ years behind in digital transformation race

ESG is triggering a digital transformation in the real estate industry. But compare the digital status of real estate with other industries such as fintech and you will see that we are five to six years behind says Thomas Veith, Partner, Leader Real Estate Real Assets, PricewaterhouseCoopers.

“But that also comes with large and significant opportunities because we are relevant, we have so much investment capital and there are so many opportunities to bring digital solutions to the market,” Veith told Real Asset Insight’s Richard Betts.

Veith added that there is plenty of venture capital investment and many startups that can help foster the transformation. “Other stakeholders like banks or insurance companies or our tenants are asking for data and we must be able to communicate. That’s all driving this transformation. It’s a journey I think we will be on for the next five to 10 years, definitely.”

Click on the video to watch the full interview or listen to the podcast below.