Saïd Business School, University of Oxford has launched the Oxford Future of Real Estate Initiative to research and predict the changes faced by the industry over the next decade. Led by Professor Andrew Baum – real estate industry veteran and author of 2017’s groundbreaking PropTech 3.0 report – the initiative will bring academics together with industry experts from leading businesses across the global real estate community. It will enable Oxford Saïd to employ a variety of research methods to understand the technology and innovation drivers of change in the real estate industry, and the research findings will be available to the public.
‘From Blockchain to Smart Cities, the real estate world is going through a period of extraordinary change,’ explained Professor Baum. ‘Thousands of extremely clever people backed by billions of dollars of investment are working hard to change the way it is traded, used and operated. 93% of tech start-ups fail to last more than three years, but those who prosper will have a radical impact, and it is of vital importance for companies to understand exactly what changes they will bring. This initiative will enable both the academic and commercial Real Estate communities to work together in preparation for a period for unparalleled challenge and opportunity.’
The first confirmed research topics include:
- Blockchain and property trading
- Big data and the investment/occupation decision
- Leasing or operating? Future management models for real estate
- Technology and the smart city of the future
Six companies have chosen to support the Oxford Future of Real Estate Initiative to date, including Bryan Cave Leighton Paisner, CBRE, EY, Redevco, TH Real Estate and UBS, and the initiative intends to sign up four more by the end of 2018.
‘We are extremely proud to have these companies join us,’ said Professor Baum. ‘They are funding world class research into the future of the industry. The research we conduct will be publicly available, so the whole global real estate community will benefit from the work we do here in Oxford. This initiative will run for four years and there will be regular publications during this period.’
Andrew Vaughan, Chief Executive Officer at Redevco commented: ‘As a retail focused investment manager we recognise the enormous structural changes taking place in our sector. We believe these will be both positive as well as disruptive, will come at an astonishing speed and will significantly impact our business. We are delighted to join the Future of Real estate initiative working with like-minded partners to learn about and anticipate the impact of such technologies and innovations at an early stage.’
As well as commissioning research, the initiative partners will meet twice yearly to discuss continuing research development.
The Oxford Future of Real Estate Initiative is part of a broad range of activities designed to embed real estate within Saïd Business School. This encompasses a popular Real Estate elective on the Oxford MBA; an open enrolment executive education programme in Real Estate; a global network of Oxford real estate alumni that is being created through the establishment of the Oxford Real Estate Society, and the delivery of the annual Oxford Real Estate Conference.
Oxford Real Estate Society: Creating a strong network of real estate professionals and students from the University of Oxford.