As the year progresses, the PropTech industry is anticipated to undergo significant transformation due, in part, to the integration of advanced technologies. Artificial Intelligence (AI) and Big Data are set to revolutionise property management and investment strategies by providing real-time analytics and predictive insights, enabling more informed decision-making. On top of that, the Internet of Things (IoT) is expected to facilitate the development of smart buildings, enhancing operational efficiency and tenant experiences through interconnected systems. And, in addition, Virtual Reality (VR) is expected to become a standard tool in property...
Norges Bank Investment Management has spent £306 million ($373 million) to acquire a 25% stake in a mixed use portfolio of predominately office and retail assets based in the U.K., according to a news release.The sale to NBIM was from property consortium Grosvenor Group, which will retain 75% ownership of the portfolio.The properties in the portfolio are all based in Mayfair, an upscale neighborhood in London where the Grosvenor headquarters are based. The total value of the portfolio is estimated at £1.2 billion."We are very pleased to enter a new...