OtherPartner ContentMon 25 Nov 19

Can Developers Trust Technology to Assess New Development Opportunities?

Can developers trust technology to accurately assess development opportunities?

It is an important question that frames the industry’s broader relationship with technology and the role it plays within the traditionally instinctive pursuit of property.

As the property industry emerges from the technological dark age into an era of big data and automation, software has emerged that combines the power of modern computing with the extensive sets of data that exist across the industry.

In less than five years, a growing suite of software and tools have emerged that combine the power of modern computing with the extensive sets of data that exist across the industry.

The proptech industry is being backed globally by venture capitalists, institutional investors and major real estate companies chasing new ways to design, build, finance, market and manage the built environment.

Investment capital into proptech companies will reach $20 billion by 2020 a study by investment firm Taronga Group's technology investment arm Real Tech Ventures and KPMG has found.

“We’re on the cusp of one of the most exciting phases in the development of our built environment,” The Urban Developer chief executive Adam Di Marco said.

“Smart cities are not just a ‘thing’ of the future – it is happening right now.”

Archistar.ai is one Australian proptech firm that has harnessed the power of big data and artificial intelligence to offer developers and the industry alike the opportunity to quickly assess the development potential of a property.

Archistar brings together hundreds of property data sets — such as property title information, zoning data, building heights and setbacks, construction cost and sales data — to enable developers to identify what’s possible.

“Technology will never replace the intuition and experience that developers possess, but it can enhance, optimise and speed it up,” Dr Benjamin Coorey said.

“At Archistar, we are focused on helping developers quickly and accurately assess new development opportunities to give them the edge in a competitive market,” Coorey said.

Following another successful capital raise which was supported by some of the most influential people in the proptech sector, Archistar is proud to release its second and most powerful version of its product to the industry.

To find out more about Archistar and The Future of Property Development, you’re invited to attend a free "lunch & learn" in Brisbane, Sydney and Melbourne.