Leveraging Smart City Technologies for Enhanced Real Estate Development: An Integrative Review
Abstract
:Highlights:
- Smart technologies are mature enough to leave academic shelves and be utilized in the practical field;
- A total of 131 added values were captured from the investigated technologies, such as site selection using GIS;
- Smart technologies have the highest add values at the operation sub-phase;
- There are no other sufficient alternatives for real estate developers than utilizing smart technologies in real estate development; more smart real estate must be developed in the near future;
- City management and municipalities have a significant role in activating smart technologies and their added values, transitioning cities and real estate into smarter ones.
- City management should invest in big data and geodata, develop a smart infrastructure, activate automated building permits, and create a digital twin for the city.
- Real estate developers should focus on GIS, BIM, Big Data, and AI, significantly impacting the acquisition and conception phases by using GIS for site selection, BIM for design, Big Data for market analysis, and AI for predictive analytics.
Abstract
1. Introduction
2. Background
2.1. Smart Technologies Added Values
2.2. Smart Technologies
2.3. Smart Real Estate for a Smarter City
2.4. Real Estate Life Cycle
3. Materials and Methods
- Relevance to smart technologies: the publication must focus on applying, impacting, or developing at least one smart technology within smart cities or smart real estate.
- Research aspect: theoretical and practical publications were included to comprehensively understand each technology at both levels.
- Availability: including publications that are fully available.
- Publication date: including publications published within the last decade from and after 2013 to ensure current and relevant information.
- Source credibility: including articles from recognized and credible sources, such as academic journals, conference proceedings, reputable publishers, and industry reports.
- Publication Type: including peer-reviewed journal articles, reputable industry publications, and conference reports.
- Methodological diversity: including publications that employ a variety of research methodologies to cover both theoretical and experimental practical sides.
- Peer-reviewed sources: only including articles from peer-reviewed journals for journal articles, which is preferable for conference papers and book resources.
- Language: articles must be published in English; only related journal articles must have at least an abstract in English to ensure accessibility and consistency in analysis.
4. Content and Bibliographic Analysis
4.1. Publications Targeting Technologies
4.2. Bibliographic Analysis
4.2.1. Publication Type
4.2.2. Publication Methodology
4.2.3. Publication Year
4.2.4. Author Keywords Analysis
4.2.5. Co-Authorships Analysis
5. Integrative Review of Smart Technologies
5.1. Data Mining
5.1.1. Big Data
5.1.2. Artificial Intelligence (AI)
5.2. Networking and Communication Tools
5.2.1. Information and Communications Technology (ICT)
5.2.2. Internet of Things (IoT)
5.2.3. Clouds and Software as a Service (SaaS)
5.3. Data Collection Technologies
5.3.1. Drones
5.3.2. Three-Dimensional Scanning (3D Scanning)
5.3.3. Wearable Technologies
5.3.4. Virtual Reality (VR) and Augmented Reality (AR)
5.4. Decision-Making and Visualization
5.4.1. Geographic Information System (GIS)
5.4.2. Building Information Modeling (BIM)
5.4.3. Digital Twin (DT)
5.5. Transaction and Trading Technologies: Blockchain and Smart Contracts
5.6. Smart Technologies Integration
6. Results and Discussion
6.1. Added Values
- Develop a smart infrastructure by upgrading infrastructure networks, ensuring proper fiberoptic coverage, high-speed internet, and robust communication networks across the city. Implement IoT devices by deploying sensors and smart devices to collect real-time data on city operations. Develop a centralized platform to integrate and manage data from various sources. Smart Seoul 2015 [213] is a good example of smart ICT that provides suitable services and urban management;
- Invest in Big Data and Geodata by developing open data portals where geospatial data and big data are accessible to both the public and private sectors, promoting transparency and encouraging innovation. Ensuring that data are available in standardized formats for easy integration and analysis across different platforms and applications. Promote collaboration between public and private stakeholders to share data and insights, leading to more comprehensive and accurate datasets. Advanced analytics like AI can be used to analyze data and provide training to enhance data literacy among public sector employees. The New York Open Data portal is a suitable example as it provides extensive geospatial data on various layers, supporting real estate developers and urban planners with improved transparency [214,215];
- Activate automated building permits using Cloud and SaaS technologies by developing a cloud-based platform for submitting and processing permits. Automate code compliance with software that checks building plans against local regulations and provides training and support to ensure that city officials and the public can effectively use them. For example, New York has piloted a cloud-based building permit system to streamline the permitting process [125];
- Create a digital twin for the city by collecting data from various sources, including IoT sensors, GISs, and existing urban databases. Use modeling tools to develop the digital twin model. Integrate this model with urban planning and management tools to enhance decision-making. Engage stakeholders in developing and using the digital twin to ensure it meets their needs. For example, the Virtual Singapore project provides a 3D city model for urban planning and management [216].
- Real estate developers’ technology utilization is more focused on GIS, BIM, Big Data, and AI; the real estate developers’ main impact is significant in the early sub-phases: acquisition, conception, and construction. Real estate developers should adopt GIS for site selection to analyze land-use, zoning, and environmental impact. Implement BIM for design and construction to create detailed 3D models. Leverage Big Data for market analysis to understand market trends and customer preferences. Also, utilize AI for predictive analytics to predict project outcomes and manage risks effectively;
- The contractors’ and construction managers’ impact is mainly in the project construction sub-phase; they mostly utilize BIM, Big Data, and AI. They utilize BIM for project coordination to manage documentation and streamline coordination efforts. Apply Big Data for resource management to optimize allocation and scheduling. Adopt AI for site monitoring to ensure safety compliance, with applications including data collecting and site planning. Implement wearable technologies to monitor workers’ safety, track vital signs, and ensure compliance with safety protocols;
- The real estate agent’s role is most significant in the project marketing sub-phase utilizing several technologies. Use BIM for property visualization to create detailed models that enhance visualization for potential buyers. Implement VR and AR for immersive tours, providing virtual and augmented reality experiences. Utilize drones for aerial photography to capture images and videos for marketing purposes. Leverage Big Data and AI for targeted marketing by analyzing customer data to target potential buyers effectively. Adopt blockchain and smart contracts to secure real estate transactions and automate deal processes;
- Once the property is ready for occupancy, the role of facility managers starts; their impact is mostly in the utilization phase and has a higher impact on the project occupancy and operation sub-pashes. Implement BIM for facility management to improve data accuracy and accessibility. Develop digital twins to simulate and optimize building performance, allowing for real-time monitoring and management of building systems. Integrate IoT devices to monitor and control systems. Apply AI for predictive maintenance to predict equipment failures and optimize maintenance schedules. Wearable technologies are used to connect the facility with its users.
- Data availability and existing infrastructure: the city’s role is critical as limited data and geodata can significantly affect the ability of several technologies. Additionally, the existing infrastructure might not be suitable and smart enough to adopt smart technologies, such as having reliable and high-speed internet connectivity, which is essential for technologies like cloud computing and IoT;
- Data privacy and management: users may fear that their personal data collected by IoT devices, AI, and other technologies could be misused or inadequately protected. Ensuring the security and privacy of collected data is critical;
- Cost and investment: smart technologies have high initial costs, and for some technologies, the return on investment (ROI) and their added values may take time to materialize, making it challenging to justify the initial investment;
- Integration complexity: synergy and compatibility issues when integrating various technologies such as AI, IoT, and blockchain can be complex due to different standards and protocols. Additionally, the existing infrastructure may not be compatible with new technologies, requiring significant upgrades;
- Regulatory and legal issues: adhering to regulations related to data protection, building codes, and environmental standards can be challenging.
- User acceptance and training: stakeholders may resist adopting new technologies due to a lack of understanding or fear of change. Adequate training is necessary to ensure that users can effectively utilize new technologies;
- Expertise and implementation: limited experts and authors investigating and interested in the field, especially SRE. Additionally, implementing technologies without sufficient knowledge can lead to lower added values, or some Technologies may remain in the academic field without being tested and developed;
- Contextual challenges: feasibility and scalability of technologies can vary significantly based on the context. Developed cities often have better infrastructure and investment capacity, while developing cities may face greater challenges due to limited resources and infrastructure gaps.
6.2. Discussion
7. Conclusions
Supplementary Materials
Author Contributions
Funding
Acknowledgments
Conflicts of Interest
Abbreviations
SC | Smart City |
SRE | Smart real estate |
RED | Real estate development |
PropTech | Property technology |
AI | Artificial intelligence |
ML | machine learning |
ICT | Information and communication technology |
IOT | Internet of Things |
SaaS | software as a service |
VR | Virtual Reality |
AR | Augmented Reality |
DT | Digital Twins |
BIM | Building Information Modeling |
GIS | Geographic Information Systems |
CAGR | compound annual growth rate |
COVID-19 | Coronavirus disease-2019 |
SM | Supplementary Materials |
DCDE | develop a decentralized common data environment |
ROI | return on investment |
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Publication Type | Count | % | References |
---|---|---|---|
Journal article | 138 | 82% | [2,12,18,24,28,30,42,43,53,57,58,59,60,61,62,63,64,65,67,68,69,72,73,74,75,76,77,78,79,80,81,82,83,84,85,86,87,88,89,90,91,92,95,96,97,98,99,100,101,102,103,104,105,106,107,109,110,112,113,114,115,116,118,119,120,121,122,123,124,125,126,127,128,129,130,131,132,133,134,135,136,137,138,139,140,141,142,143,144,145,148,149,151,152,153,155,156,157,158,159,160,161,163,164,165,166,167,168,169,170,171,172,174,175,176,177,179,180,181,183,185,189,190,191,193,194,195,196,197,198,200,202,203,204,205,209,210,211] |
Book/Book Chapter | 17 | 10% | [13,27,93,94,108,111,117,147,150,154,162,173,178,187,188,192,206] |
Conference Paper | 11 | 7% | [8,58,66,71,146,182,186,199,201,207,208] |
PhD/MSc Thesis | 2 | 1% | [40,70] |
Main Phase | Sub Phase | Process/Task | Added Value * | Technologies | Provider ** | User |
---|---|---|---|---|---|---|
Land Development | Land Surveying | Enhance boundary and detailed topographic mapping with integrated spatial analysis | GIS, Drones | Municipal authorities (urban planners, surveyors) | Real estate developers, municipal authorities | |
Zoning and Planning | Enhance analysis of zoning and land-use data and simulate various scenarios | GIS, BIM | Municipal authorities (urban planners) | Real estate developers, municipal authorities, investors | ||
Improve communication with zoning and permitting authorities | ICT | Municipal authorities, technology providers | Real estate developers, municipal authorities | |||
Site Preparation | Improve site conditions and constraints analysis | Big Data, GIS | Municipal authorities (urban planners, architects, surveyors) | Real estate developers, municipal authorities | ||
Coordinate and manage site preparation activities | ICT, GIS, BIM | Municipal authorities, construction managers | Real estate developers, municipal authorities | |||
Facilitate and enhance site clearing and grading | Drones, 3D Scanning, GIS | Construction managers, surveyors | Real estate developers, municipal authorities | |||
Infrastructure Development | Improve Infrastructure network management and planning | ICT, IoT, VR and AR, GIS | Municipal authorities (urban planners), technology providers | Real estate developers, municipal authorities, investors | ||
Coordinate infrastructure development activities | GIS, BIM | Municipal authorities, construction managers, technology providers | Real estate developers, municipal authorities | |||
Develop and create e-government infrastructure | ICT, Blockchain and Smart Contracts | Municipal authorities, technology providers | Real estate developers, investors, citizens | |||
Optimize municipal systems and provide geodata | ICT, GIS | Municipal authorities, technology providers | Real estate developers | |||
Improve essential data access and transparency | Big Data, ICT, Clouds, and SaaS | Municipal authorities, technology providers | Real estate developers, investors | |||
Environmental Impact Assessment | Provide a simulation of environmental impacts and help mitigate hazards | VR and AR, GIS, BIM, DT | Municipal authorities (environmental scientists, urban planners) | Real estate developers, municipal authorities, investors | ||
Community Impact Assessment | Increase participation | ICT, IoT | Municipal authorities | Real estate developers, investors, citizens | ||
Facilitate communication with the stakeholders | ICT | Municipal authorities (urban planners) | Real estate developers, municipal authorities, investors, |
Main Phase | Sub Phase | Process/Task | Added Value * | Technologies | Provider ** | User |
---|---|---|---|---|---|---|
Project Development Phase | Project Acquisition Sub-Phase | Feasibility Study | Provide a comprehensive feasibility assessment | Big Data, AI, BIM | Real estate developers (financial experts) | Investors, real estate developers, financial institutions. |
Enhance land valuation | Big Data, AI, GIS | Municipal authorities, real estate developers, (valuation experts) | Investors, real estate developers, financial institutions. | |||
Deliver comprehensive market insights and investment opportunities | Big Data, AI | Municipal authorities, real estate developers (market analysts) | Real estate developers, investors, municipal authorities | |||
Market Analysis | Provide advanced data pattern detection and grouping | Big Data, AI, IoT, GIS, BIM | Municipal authorities, real estate developers (data scientists, analysts, database administrators) | Real estate developers | ||
Offer predictive analysis | AI, GIS, DT | Municipal authorities, real estate developers, (data analysts) | Real estate developers, municipal authorities, investors | |||
Site Selection | Enhance site evaluations with high-resolution images and 3D models | Drones, 3D Scanning, GIS, DT | Municipal authorities, technology providers | Real estate developers | ||
Enhance land surface data development | Drones, 3D Scanning, GIS | Municipal authorities, technology providers | Real estate developers, urban planners | |||
Assess location impact | VR and AR, GIS | Municipal authorities, real estate developers (urban planners, environmentalists, impact analysts) | Investors, citizen | |||
Facilitate site selection and compersion between multiple sites based on criteria | GIS | Municipal authorities, real estate developers | Investors | |||
Negotiation and Purchase | Transparent land registry | ICT, Blockchain and Smart Contracts | Municipal authorities, land management authorities | Real estate developers, investors | ||
Enhance facilitation of mutual agreements | Blockchain and Smart Contracts | Real estate developers | Investors | |||
Project Conception Sub-Phase | Concept Development | Enhance initial concept development with spatial data | GIS | Real estate developers (urban planners), municipal authorities | Real estate developers, investors | |
Optimize design, data, and drawing revisions | 3D Scanning, BIM, DT | Real estate developers (architects, engineers, and design team) | Contractors | |||
Optimize site layout | GIS, BIM | Real estate developers (urban planners, architects) | Investors | |||
Enhance urban planning with scenario evaluations and predictions | GIS, DT | Municipal authorities, real estate developers (urban planners) | Real estate developers, municipal authorities, investors | |||
Enhance project visualization | GIS, BIM, DT | Real estate developers | Real estate developers, investors | |||
Stakeholder Engagement | Improve decision-making and strategy formulation | Big Data, AI, Drones, 3D Scanning, GIS, BIM, DT | Municipal authorities, real estate developers | Real estate developers, municipal authorities, investors | ||
Automate agreements and ensure all parties are informed | Blockchain and Smart Contracts | Municipal authorities, real estate developers | Real estate developers, investors | |||
Enhance stakeholder collaboration and understanding with shared models | BIM | Real estate developers (BIM specialists) | Real estate developers, investors | |||
Financial Analysis | Accurate cost estimation | Big Data, AI, BIM | Real estate developers (financial analysts) | Real estate developers, investors | ||
Mitigate and identify potential economic downturns | Big Data, IoT, AI, VR and AR | Real estate developers (economists, financial analysts) | Real estate developers, investors, citizens | |||
Risk Assessment | Identify potential risks like natural disasters | Big Data, IoT, AI, VR and AR | Municipal authorities, real estate developers (risk analysts) | Real estate developers, municipal authorities, investors, citizens | ||
Mitigate risk warning system/hazard | GIS, BIM, DT | Municipal authorities, real estate developers (risk analysts, hazard response teams) | Municipal authorities, public safety, citizens | |||
Project Planning | Optimize resource planning | Big Data, GIS, Clouds and SaaS, BIM | Resource managers, construction managers, technology providers | Real estate developers | ||
Enhance real estate lifecycle planning and management | IoT, BIM, DT | Real estate developers, facility managers,(maintenance teams, digital twin experts) | Investors, real estate developers, maintenance staff | |||
Foster intelligent data management | Big Data, AI, Clouds and SaaS, GIS | Municipal authorities, real estate developers, technology providers | Real estate developers, citizens, policymakers | |||
Building Permit Approvals | Enhance building permit systems | Clouds and SaaS | Municipal authorities, technology providers | Real estate developers | ||
Provide accurate models for permit applications. | BIM | Real estate developers (BIM specialists) | Municipal authorities | |||
Enhance approval process automation, ensuring compliance | Blockchain and Smart Contracts | Municipal authorities, technology providers | Real estate developers, investors | |||
Project Realization and Construction Sub-Phase | Construction Management | Improve procurement management | Big Data, AI, Clouds and SaaS, BIM | Real estate developers, contractors(project managers, procurement specialists) | Real estate developers, contractors, construction teams | |
Improve supply chain management | BIM, Blockchain and Smart Contracts | Real estate developers, supply chain managers, technology providers | Real estate developers, retailers, suppliers | |||
Optimize construction management and progress tracking | AI, BIM, Wearable Techs | Real estate developers, contractors, construction team (BIM specialists) | Real estate developers, contractors | |||
Streamline coordination of multi-site construction projects | Clouds and SaaS, BIM | Real estate developers, contractors(project managers) | Real estate developers, construction teams, investors | |||
Increase construction site safety and efficiency | Wearable Techs., Drones, BIM | Contractors (safety officers) | Real estate developers, construction workers | |||
Quality Control | Digitize logistics management | Big Data, IoT, Blockchain and Smart Contracts | Contractors, technology providers (logistics companies, supply chain experts) | Real estate developers, consumers | ||
Optimize quality monitoring through data collection and analysis | AI, ICT | Contractors (construction managers, quality assurance team) | Real estate developers, investors | |||
Ensure construction quality with aerial inspections | Drones, 3D Scanning | Contractors (construction managers, quality assurance team) | Real estate developers, investors | |||
Enhance construction Information sharing and collaboration | IoT, BIM, ICT | Real estate developers, contractors (construction managers) | Investors, project teams, decision-makers | |||
Risk Management | Improve disaster management | Big Data, AI, VR and AR, GIS, DT | Municipal authorities, construction managers, technology providers (risk analysts) | Real estate developers, citizens, businesses, public safety | ||
Follow up and enhance project timeline monitoring | ICT, IoT, BIM | Real estate developers, construction managers, (data analysts) | Project managers, maintenance teams, investor | |||
Improve record management | Big Data, 3D Scanning, BIM, Blockchain | Municipal authorities, contractors, and construction managers (record keepers) | Real estate developers, legal entities, researchers, historical preservation | |||
Safeguard workers from risks | Wearable Techs. | Contractors and construction managers | Workers | |||
Construction Closeout | Update data and blueprints | 3D Scanning, BIM | Real estate developers, construction managers, (architects, engineers) | Construction teams, maintenance staff, investors | ||
Enhance the creation of as-built drawings | Wearable Techs., BIM, 3D Scanning, Drones | Real estate developers, construction managers, (architects, engineers) | Construction teams, maintenance staff, investors | |||
Enhance platforms for documenting and managing the handover process. | ICT | Municipal authorities, real estate developers | Investors | |||
Project Marketing Sub-Phase | Branding and Positioning | Enhance customer targeting and identification | Big Data, AI | Real estate developers (marketing teams) | Real estate developers, investors | |
Property search processes | Clouds and SaaS, VR and AR, AI | Real estate developers, technology providers | Investors | |||
Marketing Strategy and Materials | Enhance view acquisition for agents and facility managers | Drones, AR and VR | Real estate developers, facility manager | Investors, tenants | ||
Provide virtual tours and walkthroughs | 3D Scanning, VR and AR | Real estate developers (marketing teams), technology providers | Investors, remote clients | |||
Optimize marketing campaigns by analyzing consumer data and market trends | Big Data, AI | Real estate developers (marketing teams, data analysts) | Real estate agent, investor, consumer | |||
Enhance property marketing and promotion | Clouds and SaaS, VR and AR, AI, Drones, ICT | Real estate developers (marketing teams) | Real estate developers, investors | |||
Expansion of the smart buildings market | ICT | Real estate developers, technology providers | Investors, tenants, environment experts | |||
Generate business prospects and e-business opportunities | IoT, VR and AR, Big Data | Real estate developers, technology providers | Investors | |||
Property Assessment and Valuation | Improve property valuation and assessment | Big Data, AI, ICT, BIM, 3D Scanning, VR and AR | Real estate developers (analysts, appraisers) | Real estate developers, investors | ||
Timely estimations of property values | IoT, Clouds and SaaS, BIM | Real estate developers (analysts, appraisers) | Investors | |||
Efficiency and accuracy of appraisals | Big Data, AI | Real estate developers (analysts, appraisers), technology providers | Investors | |||
Mutual Agreement | Automate real estate transactions | Blockchain and Smart Contracts | Real estate developers | Investors | ||
Eliminate third-party involvement in real estate transactions | Blockchain and Smart Contracts | Real estate developers | Investors | |||
Increase trust | Big Data, Blockchain and Smart Contracts | Municipal authorities, real estate developers | Investors, citizens | |||
Property Handover | Ease real estate registration | Blockchain and Smart Contracts | Municipal authorities, real estate developers | Investors | ||
Improve the transfer of ownership | Blockchain and Smart Contracts | Municipal authorities, real estate developers | Investors |
Main Phase | Sub Phase | Process/Task | Added Value * | Technologies | Provider ** | User |
---|---|---|---|---|---|---|
Project Utilization Phase | Project Occupancy Sub-Phase | Handover Preparation | Provide platforms for managing handover documentation | ICT | Real estate developers | Real estate developers |
Enforce lease agreements | Blockchain and Smart Contracts | Facility managers | Property owners, tenants | |||
Tenants Coordination | Facilitate user-building connectivity | Clouds and SaaS, Wearable Techs., VR and AR | Facility managers, technology providers | Facility managers, investors, visitors | ||
Assist in tracking occupancy rates | Big Data, IoT, BIM | Municipal authorities, real estate developers, facility managers | Investors | |||
Occupancy Monitoring | Enhance occupancy monitoring | IoT, DT, AI, Wearable Techs | Technology providers, facility managers, control system engineers | Facility managers (security personnel), investors | ||
Occupancy comfort monitoring | AI, IoT | Facility managers | Tenants | |||
Responsive actions based on users’ behaviors | Big Data, AI, Wearable Techs | Technology providers, facility managers, | Tenants | |||
Feedback Collection | Enhance user experience | IoT, Clouds and SaaS, Wearable Techs., VR and AR | Facility managers, technology providers, (UX designers) | Citizens, visitors | ||
Increase transparency | Big Data, AI, ICT | Facility managers, technology providers | Municipal authorities, tenants, citizens | |||
Improve customer feedback via AI chatbots | AI | Real estate developers | Tenants | |||
Minimize errors and regrets | Drones, 3D Scanning, VR and AR, BIM, DT, Blockchain and Smart Contracts, AI | Real estate developers, technology providers, facility managers, quality assurance teams | Tenants | |||
Project Operation Sub-Phase | Operational Planning | Upgrade building automation | ICT, IoT, BIM, DT | Facility managers, technology providers (building automation specialists) | Facility managers, tenants, investors | |
Increase users’ productivity and efficiency | Big Data, AI, IoT, Clouds and SaaS | Technology providers, facility managers | Tenants, employees | |||
Enhance space utilization and management | IoT, BIM, DT | Facility managers | Tenants, investors | |||
Facility Management | Improve building management | Big Data, IoT, Clouds and SaaS, Wearable Techs., BIM, DT | Facility managers, technology providers | Tenants, maintenance staff | ||
Maximize efficiency in the use of building resources | AI, ICT, Clouds and SaaS, BIM, DT | Municipal authorities, real estate developers, technology providers | Citizens, tenants, investors | |||
Endorse remote access for operations management | IoT, BIM | Facility managers | Facility managers, investors | |||
Improve waste management | AI, IoT, BIM | Municipal authorities (waste management companies), facility manager | Tenants, sanitation workers | |||
Financial Management | Refine portfolio management | Big Data, Clouds& SaaS | Real estate developers (portfolio managers, financial analysts) | Real estate developers, investors | ||
Boost valuation management | Big Data, AI | Real estate developers (appraisers) | Real estate developers, investors | |||
Analyze financial performance and optimize budgeting | Big Data, AI &Robotics, BIM | Real estate developers (appraisers) | Real estate developers, investors | |||
Automate lease agreements and payment processes | Blockchain and Smart Contracts | Facility managers | Investors, tenants | |||
Compliance and Safety | Increase security and safety | AI, IoT, Clouds and SaaS, Wearable techs, BIM | Facility managers, security agencies, technology providers | Tenants, citizens, visitors | ||
Facilitate real-time monitoring and efficient surveillance | BIM, IoT, DT, AI | Facility managers | Tenants, citizens, visitors | |||
Foster smart evacuation management | BIM, IoT | Facility managers | Tenants, citizens, visitors | |||
Secure digital twin | Blockchain and Smart Contracts | Technology providers | Facility managers, investors | |||
Performance Monitoring | Increase energy conservation/efficiency assessment/management | IoT, ICT, AI, BIM, DT | Facility managers, technology providers | Property owners, tenants | ||
Reduce operation cost | ICT, DT, VR and AR | Facility managers, technology providers | Investors, investors | |||
Improve environmental monitoring | IoT, BIM | Municipal authorities (environmental agencies), facility manager | Municipal authorities, investors | |||
Optimize building performance | AI, VR and AR, BIM, DT | Facility managers (energy analysts, optimization algorithms) | Investors, tenants | |||
Facilitate real-time data collection | Big Data, AI, IoT, Clouds and SaaS, Wearable techs. | Facility managers, technology providers | Real estate developers, investors, facility managers, tenant | |||
Project Maintenance Sub-Phase | Routine Inspections | Optimize schedule and document inspection process | BIM, Clouds and SaaS | Facility managers, technology providers | Investors, tenants | |
Preventive Maintenance | Enhance maintenance planning, scheduling, and smart maintenance modeling | IoT, BIM, DT | Facility managers (maintenance teams) | Investors, facility managers, tenants | ||
Assist early fault diagnosis | IoT, BIM | Facility managers (maintenance teams), technology providers | Investors, facility manager | |||
Repairs and Upgrades | Enhance fault detection | IoT, AI, Wearable devices | Facility managers (maintenance teams), technology providers | Investors, safety personnel, maintenance staff. | ||
Facilitate real-time maintenance activities monitoring | IoT, Wearable Devices, BIM, DT | Facility managers (maintenance teams), technology providers | Investors, facility managers, tenants | |||
Tenants Communication | Refine sharing services | Clouds and SaaS, Drones, 3D Scanning, Wearable Techs., Blockchain and Smart Contracts | Real estate developers, facility manager | Investors, facility managers, tenants | ||
Project Vacancy Sub-Phase | Vacancy Analysis | Improve vacancy rate analysis | Big Data, AI | Real estate developers, facility manager | Investors | |
Optimize portfolio consideration and enhance decisions in post-vacancy actions | AI, BIM, GIS, 3D Scanning | Real estate developers, facility manager | Investors | |||
Final Inspections | Improve building condition assessment | 3D Scanning | Facility managers, building inspectors, and facility managers | Investors, tenants, maintenance staff | ||
Endorse heritage preservation and restoration | 3D Scanning, Drones | Real estate developers, cultural heritage organizations, architects, and historians | Municipal authorities, citizens, tourists | |||
Documentation and Handover | Boost depreciated cost management | BIM | Real estate accountants, facility manager | Real estate developers, investors | ||
Refine terminate contracts | Blockchain and Smart Contracts | Real estate accountants, facility manager | Investors, tenants |
Main Phase | Sub Phase | Process/Task | Added Value * | Technologies | Provider ** | User |
---|---|---|---|---|---|---|
Post-Vacancy | Refurbishment/Redevelopment | Assessment and Planning | Enhance structural condition assessments with high-precision scanning | IoT, BIM, 3D Scanning | Contractors (structural engineers, construction managers) | Real estate developers, tenants, investors |
Interior and Exterior Upgrades | Enhance the esthetic and functional aspects of the building | BIM, VR and AR, 3D Scanning | Contractors, real estate developers (architects, interior designers, construction managers) | Real estate developers, tenants, investors | ||
Enhance and provide detailed models for design and planning upgrades | BIM | Contractors, real estate developers (architects, interior designers, construction managers) | Real estate developers, tenants, investors | |||
Energy Efficiency Improvements | Enhance sustainability by adopting energy consumption reduction measures | IoT, AI, Big Data | Real estate developers (energy consultants), construction managers | Real estate developers, municipal authorities, tenants, | ||
Enhance analysis of energy consumption patterns and issue detection | Big Data, IoT | Real estate developers (energy consultants), construction managers | Real estate developers, municipal authorities, tenants, | |||
Property Adaptive Reuse | Spatial analysis to evaluate property potential. | GIS | Municipal authorities, real estate developers, (urban planners, architects) | Real estate developers, municipal authorities, investors | ||
Analyze market trends and demands to identify the suitable building reuse | Big Data | Municipal authorities, real estate developers, (urban planners, architects) | Real estate developers, municipal authorities, investors | |||
Simulate redevelopment scenarios | BIM, DT | Municipal authorities, real estate developers, (urban planners, architects) | Real estate developers, municipal authorities, investors | |||
Project Demolition | Safety Measures | Enhance mapping of safety zones and hazards | GIS, BIM | Municipal authorities, contractors | Municipal authorities, investor | |
Demolition Execution | Enhance construction renovation and preservation Process | 3D Scanning, BIM | Municipal authorities, contractors | Real estate developers, contractors, investors, historical preservation | ||
Optimize planning and management of demolition processes | AI, ICT, IoT, BIM | Municipal authorities, contractors | Real estate developers, contractors, investors | |||
Debris Removal and Recycling | Enhance decision-making for demolition methods and waste management | Big Data, BIM | Municipal authorities, contractors | Municipal authorities, investors | ||
Optimize demolition waste management | AI, ICT | Municipal authorities, contractors, real estate developers | Municipal authorities |
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© 2025 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
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Al-Rimawi, T.; Nadler, M. Leveraging Smart City Technologies for Enhanced Real Estate Development: An Integrative Review. Smart Cities 2025, 8, 10. https://doi.org/10.3390/smartcities8010010
Al-Rimawi T, Nadler M. Leveraging Smart City Technologies for Enhanced Real Estate Development: An Integrative Review. Smart Cities. 2025; 8(1):10. https://doi.org/10.3390/smartcities8010010
Chicago/Turabian StyleAl-Rimawi, Tarek, and Michael Nadler. 2025. "Leveraging Smart City Technologies for Enhanced Real Estate Development: An Integrative Review" Smart Cities 8, no. 1: 10. https://doi.org/10.3390/smartcities8010010
APA StyleAl-Rimawi, T., & Nadler, M. (2025). Leveraging Smart City Technologies for Enhanced Real Estate Development: An Integrative Review. Smart Cities, 8(1), 10. https://doi.org/10.3390/smartcities8010010