Realtors urged to step up digitalization

MANILA, Philippines — Real estate players are being urged to accelerate the adoption of technology to help keep their businesses running amid the coronavirus disease 2019 (COVID-19) crisis.

“We advise developers and occupiers to remain agile while keeping safety, compliance, and operational and financial contingency as key priorities,” said property services firm Jones Lang Lasalle Philippines (JLL).

JLL said real estate developers should immediately incorporate digitalization in their workflows.

“Many real estate firms have leveraged on technology and online platforms to keep their business afloat and remain connected to employees and clients during this period,” JLL said.

“Developers and property managers may bolster their existing applications and virtual functionality by introducing new and/or expanding the roster of processes and systems migrated online such as management reporting, transactions, and inventory of supply, among others,” it said.

JLL said infrastructure, process, people and culture remain key areas in putting technology adoption at the forefront of companies’ initiatives.

JLL said property developers must also adopt flexible work arrangements and other alternative workplace strategies.

“With the current outbreak serving as a litmus test on the readiness of corporations towards remote work, those that found effective setups may be more open to employ similar schemes that may affect their physical space moving forward,” JLL said.

“This may be more relevant to firms that have high-density operations such as IT-BPM locators and POGO operators, especially as they may look to optimize costs to recoup potential losses during the current period,” it added.

JLL likewise cited the importance of health and wellness in building and office design.

“Building owners and property managers may also revisit their building ventilation designs and air filtration systems, as well as consider the application of new cleaning technologies to enhance health and safety measures within their buildings,” JLL said.