ABSTRACT
This chapter examines the evolution of property technology or real estate technology, commonly referred to as ‘PropTech’ in the property development industry. It discusses the benefits of the Building Information Model. PropTech provides technological solutions such as digitalising real estate in order to improve integration and also improve both productivity and efficiency. For many real estate developers, the conventional spreadsheet has traditionally been viewed as the most suitable software package when examining a real estate development. There are specialised software packages available being specifically designed for development appraisal. These programs can be used for valuing residential, commercial and mixed use building plots in addition to managing the project costs once a development has commenced. Scheduling tools are designed to sequence project activities by assigning dates and resources to each task. Information tools can provide information to the developer or other stakeholders associated with the project.
