Nobody would seriously suggest that companies do not need a strategy. Those without a strategy act thoughtlessly and with no direction. That is why companies pay so much attention to their long-term goals and visions. However, they often neglect the backbone of the desired transformation: the digital strategy.
Even property companies have to deal with the effects of new, far-reaching technologies such as artificial intelligence. They are also affected by the shortage of skilled workers and the topic of New Work.
Certain situations hit real estate companies particularly hard. They are mainly related to the financial market and threaten the stability of the portfolio’s value. These include:
- High interest rates and inflation
- High general business costs
- High book values for existing properties
- Increasing construction costs
- Capital resources tied up in own projects that cannot be retrieved through sales
- Outstanding rents
To respond adequately and build resilience, property companies need to think and act innovatively, and this needs to be underpinned by the tools that digital transformation provides.
It sounds simpler than it is: Anyone who wants to develop a strategy must first understand what exactly a strategy is, which building blocks form the foundation of a strategy and which are useless. A strategy needs a clearly defined goal, as well as a plan and a calculation of how to achieve this goal. The way to realize the digital strategy is through appropriate technologies and data.
The services we provide are:
- Strategic advisory services to transform the real estate business through the use of technology and data
- Support for the annual strategy process and the strategy review process with a focus on digital topics, innovations and technologies
- Modeling of new business fields in the digital context
- Change management and support for the digital transformation
Real estate has been our core business for more than 50 years. We know what real estate companies need, we know what makes you tick. For just as long, we have been helping our clients gather and assess all the information they need to make strategic directional decisions using proven methodologies. Obviously, our digitalization expertise is younger, but no less well-established. This is because thinking and acting innovatively has always been part of Drees & Sommer’s DNA. So, these are three elements you can count on.