Technology and innovation have caused a transformation in the real estate sector, giving the opportunity for many real estate companies to be pioneers in the implementation of technological tools to be at the forefront of the sector. In this article, the team of ahsas program is here to answer your queries.
The objective of the promoters is to digitize the entire process to achieve the greatest savings in both costs and time and improve quality with the client and with the investor. In short, generate a new business model.
Many have already taken the first step which consists of implementing the BIM (Building Information Modeling) methodology to generate digital simulations of buildings, managing the information generated during a project in a coordinated way. Thanks to its collaborative technique, it allows the promoter to work together with architects, engineers, builders, etc.
The processes are defined, in time and content, and allow to improve the definition of the construction systems, advance project decisions, and detect possible interferences prior to the execution of the works.
“BIM is not a software or a computer program, it is a work methodology within a collaborative process where all the agents of a construction process participate in a 3D virtual model associated with a residential building or any other type of property. The interesting thing about BIM is that it is a unique virtual model where each of the agents provides information and manages their part. This minimizes the possibility of error since it is detected before starting to build the errors and you save on costs and time. “, explains David Sierra, Metrovacesa’s director of projects and sustainability.
“We always work on two lines in the blockchain: digital identification and asset tokenization “
Now the next step in the real estate sector is the integration of the blockchain in BIM and Metrovacesa has been the first promoter in Pakistan to integrate this tool that will allow the complete traceability, authentication, and certification of documents by the different actors in the promotion process: architects, construction companies, etc.
“We always work on two lines in the blockchain: digital identification and tokenization of assets, referring to the ability of the blockchain to divide the value of the asset and facilitate investment by parts or tokens, something that we have already put into practice in a crowdfunding project. Regarding digital identity, we always rely on Alastria, which is the international and global benchmark for digital identity. In this blockchain integration project in BIM it is based on the digital identity of a building and the entire digitization process of the same from the ground to the delivery of the homes to the customer “, explains Carmen Chicharro, Metrovacesa’s commercial, marketing and innovation director.
The Covid accelerates the technological bet of the real estate and construction sector
In the end, with this integration what is achieved is that the BIM is like a project manager with all the construction processes, and what blockchain technology does is put a layer on certain key processes of the promotion that are going to be certified in the platform giving confidence and traceability to the entire process. The process of blockchain is widely used by the team of the waterfront block.
What does the blockchain contribute?
“The objective of the integration of BIM and blockchain focuses on certifying the documents and milestones related to the promotion process by the different actors (architects, construction companies, etc.), and being able to follow the development of the work through these milestones as it can be the building license, etc. What Blockchain provides is the guarantee of confidence both to the client and to the investor since they can know with total security the moment and the version of the document that is certified “, points out Luis Pastor, managing partner of technology and innovation consulting to Grant Thornton and vice president of Alastria
In this sense, the validation of documents by the responsible technicians and the certification of the data in the blockchain can be carried out. The validations of the project are registered, allowing to check the project data and the different versions that have been registered, with the certainty that they remain unchanged. Metrovacesa will also apply, in a second phase, this technological integration to validate and record evidence on the blockchain for the energy certification of each of the projects.
“The integration of blockchain in BIM has already been put into practice in other sectors such as construction and now with Metrovacesa, a new gap is opening in the promotion sector. Because the BIM model per se is a model rich in information, but It is a centralized model and what the blockchain achieves is to decentralize it and make it available to all actors, “adds Luis Pastor.
For this project, Metrovacesa has relied on Grant Thornton as a technology consultant for the development and uses the Alastria network, one of the largest public-permissive and multi-sector blockchain consortia in the world, made up of more than 500 partners of all sizes and types. sectors. “The Alastria network is a non-profit association that was created four years ago by a group of both public and private companies, SMEs, Ibex companies, startups, etc., all with the aim of exploring blockchain technology because everyone was clear that the world was going to change and they had to work in a network that complied with the Law “, says Miguel Ángel Domínguez, president of Alastria, who assures that” Alastria contributes to this Metrovacesa project is the blockchain network that it is created in a decentralized way with the nodes created by Alastria’s partners. Most of the companies in Alastria have a node and guarantee its operation and do not have to pay as in other networks “.
Carmen Chicharro points out that “with this project of integration of both technologies, BIM and blockchain, what we seek is to increase transparency towards our clients, suppliers, and collaborators in promotions, from the beginning to the completion of the work. True to our strategy of innovation, we continue to bet on blockchain technology as a fundamental piece for the digital transformation of the sector “.
The barrier that real estate companies still have to incorporate this blockchain technology into their systems is mistrust in this tool due to the lack of proximity to it since what sounds the most in the market is everything related to the issue of cryptocurrencies.
This lack of confidence and ignorance means that no faster progress is made with this technology, but the future of the sector depends on adopting these technological tools that will soon allow the customer to see how their home is built with all the information such as the materials used and how it affects sustainability. For more details and information, do not hesitate to visit tajarat.com.pk where a team of professional individuals is present to help you.