Facilio has labeled the new era of data-driven operations & maintenance in commercial real estate as ‘CRE 3.0’, marked by the 3-pronged industry focus on data extraction out of siloed building functions; data aggregation on a portfolio-central platform; as well as use of modular apps to perform data-driven operations acting on the insight-rich operational data to enable predictive portfolio operations. 

“Buildings are a powerhouse of data. The automation driven upgrade of commercial real estate assets, of a few decades ago – labeled CRE 1.0 – was focused on embedding buildings with hardware that delivered improved services and enhanced performance. CRE 2.0, the recent adoption of appropriate technologies, consisted of CaFM and other software suites, designed to act as point solutions for property management, maintenance, energy management, occupant applications, etc. This new decade will see the rise of CRE3.0 - an innovative new data-driven model in commercial real estate operations, that is now making it possible to optimize asset performance and achieve centralized and real-time management, at an enterprise scale”, says Prabhu Ramachandran, Founder & CEO, Facilio Inc.

The report touches upon the current state of operations and the priorities of CRE owners across the US, Middle East and India markets, and highlights the growing demand for data-driven operations to drive operational efficiencies and optimisation.

The CRE 3.0 report also reveals that Connected Building portfolios and a coherent end-to-end view of workflows and processes is set to become the norm in 2020, and onwards. In the context of the Middle East, a rise in the number of properties coming to market, the emergence of new segments, regulatory reforms, a Smart City vision and discerning customers are driving a major transformation in the industry. “As we move into a new decade of change and evolution, it is increasingly clear that CREs need to focus on leveraging technology to boost building performance, secure maximum uptime, and provide seamless tenant experience across portfolios. And this report provides an eye-opening look at the current state as well a vision of the transformational impact of data-driven operations”, concludes Prabhu.