Expo Real 2024: The Future Belongs to Those Who Digitize
The rising demand for AI-driven ESG solutions highlights that many real estate companies are increasingly recognizing the potential of digital technologies. However, the process could be faster, allowing these companies to create both economic and ecological value more quickly. A progress report ahead of Expo Real 2024.
As we approach Expo Real 2024, the real estate industry finds itself at a pivotal moment. With issues such as decarbonization, ESG strategies, and digital transformation becoming more urgent, it’s no surprise that this year’s trade fair will place a strong emphasis on digitalization and AI applications.
Since the last Expo Real, I’ve observed considerable progress in the industry, particularly in digital transformation. Through numerous conversations and the growing demand for our solutions, it's evident that digitalization is not just a trend—it’s a winning strategy.
Meeting Tenant Expectations
An increasing number of property owners and operators are recognizing the benefits of digital solutions, such as predictive control of HVAC systems, which can significantly reduce energy consumption. These innovations allow companies to meet a variety of demands—from tenants seeking cost-effective and sustainable spaces to complying with decarbonization regulations like the German Building Energy Act (GEG), which mandates tapping into potential energy savings.
Addressing these challenges has become part of daily operations for many companies. Solutions like ours, which can immediately, measurably and demonstrably cut energy usage, are among the most welcome first steps in this direction. With a return on investment typically under two years, adopting these solutions becomes an even easier decision.
A Major Opportunity for the Industry
One of the biggest obstacles remains the insufficient availability of smart meters and the lack of digital energy consumption data. Many real estate portfolios have yet to be upgraded in this regard. We help our customers by offering meter management services and acquiring and integrating the necessary data. However, this process could be accelerated significantly if companies took the initiative to launch comprehensive smart meter retrofitting programs.
This is where I see a tremendous opportunity: Companies that act now and digitize their energy consumption data stand to benefit from a range of advantages—from becoming more attractive to tenants and meeting regulatory requirements to preserving property values.
The latest 2024 digitalization study, "KI – ein Game Changer in der Immobilienwirtschaft?" by ZIA and EY, confirms that digitalization is advancing steadily. Many companies are now in the implementation phase, meaning that much of the relevant information is already available in a digital, structured format, and core operational processes are being supported without interruptions.
A Strong Economic Case
While this progress is promising, obstacles still hinder the pace of digital transformation, including a shortage of skilled personnel, poor data quality, and limited investment.
Despite these challenges, we offer an end-to-end process that presents a solid economic use case for our clients, even when faced with these limitations.
That said, real estate companies must take an active role. This is why I’m using Expo Real 2024 as a platform to make an appeal: Those who embrace digital solutions now will not only quickly reap the rewards but also help safeguard the future value of their properties.
Carsten Kreutze has served as CEO of Recogizer since 2014. With his many years of experience in corporations and start-ups, he founded the green tech company to significantly reduce the energy consumption of properties and help them retain their value. He is convinced that intelligent data technologies are vital to achieving climate goals in the real estate sector.
Carsten Kreutze | Managing Director
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