Remit News

MPIM Proptech Europe 2019

One of the most noticeable aspects of MIPIM Proptech Europe, that took place in Paris earlier this month, was the apparent lack of ‘property’ businesses being represented at the event. Unlike Future Proptech, that took place in London just a few weeks before, there was a noticeable absence of the large surveying practices. There was however a heavy presence of tech firms demonstrating their latest solutions and new developments.

While MIPIM Proptech Europe seems to be evolving into an event that is putting the ‘tech’ into PropTech, at a pan-European level, the absence of many of property’s big names indicates that we might now be experiencing a ‘trough of disillusionment’. It has a feeling of “Proptech - so what?” about it.

In addition to the high number of tech businesses, there was also a large representation of women at the event, which featured a ‘women in Proptech’ gathering and panel discussion. While this is good news, and while the gender balance is better in “Proptech” than the rest of the property world, it's still disappointing that it is considered necessary to have such events. The sooner that gender-imbalance is a thing of the past, the better.

In terms of the technology being discussed and demonstrated at MIPIM Proptech Europe, ‘Customer Experience’ was a big theme with a number of customer engagement tools and platforms being represented. On display was a customer interaction robot called Spoon that uses AI to answer questions; intending to help people by answering property-related queries.

Surely this has to be just a clever novelty though? Maybe those behind Spoon can learn from the Japanese hotel that “laid off 243 robots after they started to cause more work for their human colleagues”? Our own research conducted for the RICS suggested that AI within Real Estate will be most powerful when it augments human skills rather than simply replacing people. While our research focused on the skills and tasks of surveyors, using AI as tools that enhance the customer’s human interaction within a building has to be the way forward. An example of this was some smart holograms being demonstrated at MIPIM Proptech that could be used to complement and assist front-of-house staff.

There were other cutting edge technologies on display at Mipim Proptech Europe including some amazing Augmented Reality tools – including an interactive CGI screen called “Maestria” that was used to highlight the technology’s potential in showcasing off-plan development projects.  

Other hot topics of discussion in Paris were ‘Collaboration’ and ‘Smart Buildings’, and there was a very interesting RICS panel discussion on “Innovation and Regulation in the Age of Proptech” that questioned how the industry could, and should, develop standards across the new wave of proptech innovations.

MIPIM Proptech Europe was, all round, a stimulating two-day conference with a variety of intuitive proptech innovations demonstrated and some enlightening panel discussions and talks with industry experts. We're looking forward to 2020's event.

Remit Associates meeting - March 2019 

The hot topic at the recent Remit Associates meeting at the Future Cities' Urban Innovation Centre in Clerkenwell, was “Alternative Real Estate Financing and the Role of Technology” where the audience listened intently to presentations given by Remit Consulting partner Hans Gerritsen, Frank Kerstens Head of Real Estate Innovation at ABN AMRO Bank in Amsterdam and John Forbes of John Forbes Consulting.

The panellists looked at the way technology is reshaping the financial services industry across the globe and how this changing business environment, driven by fast developing technologies might impact the real estate investment market.

Hans highlighted how the growing involvement of the big tech companies is influencing financial services, due to their ability to leverage new technologies to generate value from huge volumes of customer data, producing customer insights and predicting behaviour patterns. He suggested that this will become more prevalent with real estate fintech, enabling better customer experiences and greater transparency. He highlighted that, globally, real estate fintech startups increased by 18% in the last decade.

Frank Kerstens continued this theme and gave an overview of the changing real estate market in The Netherlands, which has seen greatly improved transparency in recent years, partially due to proptech.

John Forbes then addressed the issue of how we actually invest in property, and what is currently driving change. He ended with a warning that there is an emerging technology gap between investors and real estate investment vehicles.

For more information regarding our Associates meetings, contact Kat Lewis

Remit’s “The use and value of commercial property data” report, published by RICS

You might remember last June, Remit was asking our friends, clients and colleagues to complete a survey about the use (and challenges) of data within the commercial property market. We had a tremendous response from across the globe and, following the survey, we also undertook face-to-face interviews with a number of businesses in the market.

The results of the survey and interviews has now been published in a RICS report “The use and value of commercial property data”, and it suggests that the property industry is now at a tipping point.

As we pointed out in our 2017 RICS insight paper “The Impact of Emerging Technologies on the Surveying Profession”, the industry is not currently structured around the wide-scale use of data. This is now changing, and changing rapidly. 

As real estate data is becoming more freely available, the value of having an agent or broker who can keep a client up-to-date with the property market reduces. At the same time, non-property data experts from other fields with experience of analysing data and providing value in markets they are not familiar with, a now entering the property world. What is more, the exponential changes in technology combined with increased data availability, is giving these new entrants into the property world an opportunity to bring value to buildings, their owners, occupiers and investors.

As our report highlights, with information in a database rather than in the heads of professionals, the true expert will be one who uses data well rather than just remembers it. 

Click here to download the report.


EXPO Real 2018, Munich

The UK is still holding its own; data is front of stage; innovation is the buzzword

Expo Real 2018 is a very large and buzzing industry event (44,536 participants and 2,095 exhibitors) with a mix of UK, German and US companies, but increasingly continental and local German Funds. The companies ranged from Property, Finance, Retail chains, through to Proptech, Software and Blockchain. Lots of focus was on Innovation and Proptech and arguably this is handled more successfully than at MIPIM. It was still a good place to meet European heads of investment, but heads of UK service providers seemed to be staying away and a number of senior figures cancelled their trips in the weeks leading up to the event.

Key Themes:

  • A lot of money in Europe is chasing very little stock – it feels like the top of the market, but everyone was reassuring those that would listen that there is plenty more value to be had from the market. Everyone was talking about data with the key issues being lack of data in the market, sharing access to data and data adaption.

  • In the innovation section, competition is high amongst start ups. Many Proptech companies however appear to be doing the same thing so differentiating yourself here is challenging.

  • People are bored of discussing Brexit, mainly because nobody can predict what will happen or how it will happen – possibly the least discussed (and least relevant?) topic at Expo.

There was still a good range of English speaking seminars but these tended to be confined to only two stands at the event. Additionally, there were receptions and cocktails at UK company stands…

The BFP lunch had attracted very interesting speakers from a range of European investors developers and a UK  government agency. Ronald Huikeshoven, CEO of Dutch residential developer AM talked about building innovative millennial shared homes – this development has been flooded by enquiries from retirees for the same homes leading him to expect two separate markets to emerge here. Katharina von Schacky, Global Head of Shopping, Commerz Real AG focused her discussion on the strong movement of retail to omni-channel and that many retail owners don’t know how to deal with this. Their investment in residential over retail centre at Westfield London was also discussed – not appropriate everywhere but useful where demand for flats is high. There is also a pressing need to rebalance town centres somehow.

Interesting that Ronald Huikeshoven sees just as much problem in resourcing construction workers as the UK does after Brexit - in the Netherlands, all young people want are “white collar” jobs. There will be much higher automation. The developer was part of BAM and BAM does not even have enough resource his AM programme!

Soundbites from other seminar panels included:

  • UK student housing is attracting foreign investment -this asset class is a good investment as it’s now mature. Emerging UK asset classes include investing around airports and logistics.

  • The UK build to rent sector and hotel development and residential market are all growing.

  • Retail prices are going down and there is concern about high profile retailers and UK investment.

  • The big quality centres are doing well; however high streets are struggling. Pricing is right and still attractive but not without risk. 

  • The WeWork model is a key disruptor. There was a debate about whether it is an occupier, tech or real estate business. People agreed it was a combined real estate and tech model.

  • UK yields are looking good compared with Europe – suggestion that UK regional cities at 5% are good value against continental regions (might be a good reason for that!) Regulatory rules across overseas are a barrier to investment

  • Blockchain may not be an answer (to anything) as it consumes so much power to validate transactions it is a very unsustainable form of business

Overall, an insightful and bustling event with lots of interesting and thought-provoking discussions on market trends, highlighting the rapid growth of proptech.

Retour - July 2019

ReTour – 6 July 2018

The ReTour event on Friday 6th July proved to be a great success – with 20 riders touring nine of London’s best buildings to assess their facilities for cyclists. Everybody seemed to enjoy themselves and the buildings varied massively in terms of their storage facilities and provisions for cyclists. The day started bright and early with refreshments and a presentation from Ecocycle; an automated cycle storage company with a visionary solution for the mass storage of bikes. The riders then set off to tour the remaining buildings.

The cyclists have voted their favourite buildings to have been 90 Fetter Lane, Nomura and Bishopsgate, closely followed by Verde. Some standout features included the winding ramp at the Verde building, the Nomura roof garden and the innovative bottle-refilling feature at FetterLane. The only building that truly offered quick and seamless access for cyclists however was 200 Aldersgate, which had a side entrance directly into a bicycle storage room on the ground floor.

PROVADA 2018, Amsterdam





















The fourteenth annual real estate exhibition PROVADA was held in Amsterdam the Netherlands on 4th, 5th and 6th June. 25,667 visitors attended the main real estate exhibition for the Netherlands, made up of exhibitors from the Netherlands and abroad.  This number highlights the importance of Provada in the Dutch property market.

The main theme for this year’s event was “Educate, Innovate, Integrate” and it is evident that the property sector is currently seeing a great deal of experimentation in this sense. But how does the sector ensure that such investments add value? What needs to happen first to facilitate innovation (education)? And then what (integration)? How does your organisation learn and put that knowledge into practice? This year, ROI stands for Return on Innovation.

This running theme was also highlighted by the Proptech companies attending the event. A few years ago, such companies mainly presented themselves to show visitors WHO they are. At last year’s Provada, they showed WHAT they can do for the real estate market. But this year, PropTech and real estate companies demonstrated HOW they have worked together to achieve new goals.

The Provada PropTech Award this year went to Hello Energy, a young company that turns complex energy data into interesting, understandable energy stories. The result being greater support and awareness among users and visitors when it comes to sustainability. Provada and Holland PropTech invited twenty start-ups to present themselves at the exhibition and the speakers and visitors then casted their votes to arrive at the winner.

Hans Gerritsen, Mark Leijgraaff, Antoine Lelieveld and Rutger de Koning represented us at the conference this year. They visited several clients at their stand, attended numerous conferences and participated in a knowledge session together with Proptech companies. A very effective networking event once again.

MIPIM 2018

Spring, sunshine and new shoots of optimism... 

At the time of writing there has been no salacious news coverage of MIPIM despite, we hear, that a tabloid set up a sting at one of the Wednesday afternoon lunch venues featuring two attractive girls flirting at a table of guests with a photographer hidden nearby. Once the photographer had been spotted, guests at all the other tables rose to their feet and the sting was exposed.

Almost every conversation turned at some point to diversity in the industry - let's hope that it is not forgotten when the tabloids get bored and slope off.

The EG (is the British Estate Gazette) thought that data was the other big topic of the event - perhaps because of their management of the Radius database which is the aggregation of data from many of the leading commercial property agents. Gathering this data is quite a coup and shows just how worried the incumbents are about new business models. At present, it seems, Radius will have to make do with the facts as each member likes to portray them; an admission that rent-free periods and break clauses may stay locked behind closed walls means that we'll have to wait for truly accessible data - but this is indeed a step in the right direction.

Elsewhere, Proptech is still the most popular term to use when discussing where the industry is going. What is Proptech, really? Well, tune in to our summary of answers that we took from all the people we interviewed there. (contact us to be sent an early release draft) It is no spoiling of the surprise that nobody really seemed to know!

This year’s winner of the Proptech World Start-Up Competition, is a Dutch company called PHYSEE.

After last year's focus on the US, many US based property people flew in for the show. Finance and Proptech were their main focus but the links seem to be here to stay.

Logistics is back as the industry darling - "Logistics property is the new retail". Makes sense and explains the falling values of shopping malls - but Internet shopping is not yet perfect and whilst returned goods often amount to 80% of bought goods, this trend will also settle out.

There is also a huge emphasis on housing of all types - we think that the next generation of property people may be tempted straight into the residential sector and to placemaking. These are the exciting areas at the moment and fit directly with the digital agenda.

And what of the market - still too much money chasing too little stock. A plethora of alternative deals announced to coincide with MIPIM ranged from hotels to housebuilders and plenty of exotic alternatives outside Europe had large pavilions to empty people.

Above all, with 25000 registered visitors and, maybe, 50% of that number in addition unregistered, this was a great place to meet all the people that don't have any time in London. It was pretty full on, but worth the effort.

George Clarke, the TV architect famous for Amazing Spaces summed it up in an Instagram post  - “Being able to have industry changing meetings at the drop of a hat, that would otherwise have taken months to co-ordinate in the UK, was nothing short of amazing.”

Here are the highlights of our experience this year...

Hans Gerritsen and Andrew Waller of Remit Consulting attended MIPIM in March 2018.

featured in Forbes


Our RICS Paper, "The Impact of Emerging Technologies on the Surveying Profession" has been featured on the Forbes website. Link to the full article here.


Remit makes the EG Editorial Leader's top story!




























Bob and Andrew's RICS Paper on AI has made the top story in the EG Editorial Leader...

ISO 9001-2008

ISO 9001 certification can be an extremely useful designator of quality, particularly when you are marketing to government or large corporate clients. The current 2008 version of the certification is being superseded by the 2015 version. If you are not compliant with the new standards by the end of September 2018, you will lose your certification.

To achieve certification, you need to demonstrate that your business has appropriate Quality Management standards that are established, documented, implemented and maintained.

Remit Consulting is expert in designing and implementing leading practice processes for all types of Real Estate business, that you can confidently roll out across your business, with a view to certification for ISO 9001: 2015.  We can also help with the transition from 2008, by improving those processes which need updating, so that you are prepared for your external audit.

For more information, call Melita Thomas on 07919448018.

British School of Amsterdam Award

Congratulations to our team in the Netherlands who were awarded with the below tombstone in February. They acted as financial advisors to the British School of Amsterdam, which managed to raise a revolving credit facility and a 10-year mortgage backed loan, totalling 22 Million Euros.

MIPIM 2017

MIPIM this year was a buzz of chatter, the chink of coffee cups in the morning and a general positive vibe, indicating people were reconnecting with their inner thirst for deals and all things Real Estate. What’s new, you ask?

Sunshine, for one thing, making a change from the rain and cold of recent years. Security is next – it seemed to take forever to get in and out of the bunker until the guards had settled into a routine. And, this year, uncertainty has led to people taking bets – no longer is it just like “schoolboy football” as everyone chases after the same type of deal – variety was a staple of the discussions.

European views on Brexit ranged from scorn to disbelief and recent news on how hard continental cities are competing for UK financial companies shows that the “Europeans” are not worried for their own sakes. You could argue that the massive increase in separate tents put up by the UK regions is to counterbalance any negative sentiment – but it is more likely coincidence that each now competes for its own funding.

Talking of funding, it is still available at low interest rates and is flowing into Europe from other continents. Many property companies feel confident that their projects under construction (with emphasis on residential, logistics and hotels) will find end-investors relatively easily in the form of (institutional) funds from a wide variety of countries.  

It was noticeable that investors were more interested in the technology aspects of Real Estate than previous years. Maybe this is because of the recent PR drive from the PropTech industry and the first MIPIM PropTech party.  Nevertheless, we had many positive discussions with people open-minded to new ideas and solutions to their problems. The same question from all the funds – “But who is actually doing this?” Thankfully, there were enough solutions around the show to indicate take up and the start-up competition created new interest in innovative ideas.

MIPIM scored a PR hit by bringing in Ragnar Lifthrasir, the US Founder of the International Blockchain Real Estate Association (His name is Norweigen, although he is Californian). Blockchain is the next big sexy thing in technology at present and could be used in real estate to shorten a deal timescale from 30 days to a matter of hours. Despite a glossy overview, this was the first time that many had heard about the difficulties of implementing blockchain – there is a lot of work to be done.

With sun shining and the momentum of the positive mental state of the event this was a MIPIM well worth attending and we look forward to sharing insights from the conference with our clients in the UK and the Netherlands over the next few weeks.

Here are the highlights of our experience this year...

Hans Gerritsen, Matthew Blackmore-Squires and Andrew Waller of Remit Consulting attended MIPIM in March 2017.


Continuing the theme of workspace in this quarters newsletter, we thought it worth expanding on the Stoddart Review which was released in mid-December. As the review itself says: "Much has been said in the media about the productivity gap but little connection has been made about the vital contribution of the workplace as a performance inhibitor or facilitator. The Review unequivocally makes the case and shares best practice, leading opinion and data".

Amongst other things, the review argues that companies need to be thinking about revenue per square foot instead of cost per square foot, that a new role of Chief Workplace Officer (CWO) should come into existence, and that a potential 3.5% increase in productivity could add £70bn to the UK economy.

It features contributions from our very own expert directors Bridget Hardy and Bob Thompson; and our eminent PropTech advisor Antony Slumbers.
For more information, please read the report.


Andrew was recently asked to present at the first in a series of #DatschaPresents seminars on the topic of technology and innovation in the property industry. Among the attendees were a number of property fund managers, PropTech gurus and property service providers and discussions focused around issues such as what the effects of technological innovation will be on the property industry, and what if anything, could limit such advancement. To view Andrew's presentation slides from the event, please click here.

BREXIT - What 3 things should you do now?

If you have become a news-junkie in the last few weeks, and cycle through the FT, Twitter, the Telegraph, the Guardian and the Evening Standard with the tetchy irritability of a coke-head looking for a new fix, then the three things you probably think you should do are: panic, start scouring your family tree for an Irish ancestor, or empty your piggy bank in the hope of scrabbling together the price of a Maltese passport.

However, on the assumption that life must go on and that the Dunkirk spirit some of the campaigners were so keen to emulate does, in fact, exist, then there are some rather more practical steps you might want to consider. We have picked one suggestion each from people, processes and technology:

1) People: Look at your recruitment and training policies. Whilst we have no long-term idea about whether the free movement of people will continue, we need to be prepared for the possibility of having a much smaller talent pool from which to recruit – with the obvious upward pressure on salaries that that will create. How can you develop the people you already have, both to benefit your business, and retain them? Is this an opportunity to work more closely with educational or professional bodies to make sure that graduates are gaining the skills the industry needs? Can you get together with similar businesses to share training or offer rotations to improve your team’s breadth of experience? 

2) Processes: In a changing world, you will need to be prepared to take advantage of opportunities as soon as they appear. If your organisation is not currently as efficient and effective as it ought to be, you may struggle when new demands are made. Look at your processes to identify areas where efficiency or effectiveness could be improved. Also, look at processes that currently reflect UK or EU regulation. The rules might not change, but be aware of where they might – a case in point might be data management. Currently, the Data Protection Act requires data to be maintained in the EEA – what if the future UK is not a member? It might be a while before Parliament gets around to picking up all of these ramifications, but technical breaches of the law might easily occur. We are not suggesting that you do anything precipitate – just be aware of which processes might need revision as times change.

3) Technology: Who are your suppliers? With a fall in the value of the pound, costs of US software will rise, and become a higher proportion of your cost base. There may be benefits to this – Antony Slumbers suggests this will fuel the rapid expansion of the British technology industry (for more, please have a read of his blog). However, it still raises the question, are you using what you are paying for effectively – you need to get the best value you can. Continuing on the theme of the war for talent mentioned above – are there ways you can use technology to support your team more effectively or to minimise the low value work, and free them up to do the creative thinking?  Can you take advantage of developing building management technologies to improve space utilisation and become more energy efficient? 

Whilst these three initiatives are in no way ground-breaking, if you can concentrate on making your business as effective, efficient and economic as possible, then you should be able to weather the storms ahead. Let us hope that the old Chinese curse ‘May you live in interesting times’ does not prove too prophetic!

BDO Property Forum

Melita and Miquela recently attended BDO’s Property Forum where Mike Davidson from Broadgate Estates spoke about service charges in commercial property. The biggest challenge with service charges is still cost, influenced by Government, Environment, Security, Technology and ever-changing Customers. This includes increasing living wage levels, fluctuating energy costs and climate change disasters like flooding. Security threats necessitate greater training and better physical measures in place.

Advanced technology allows for micro-personalisation for time-poor customers; eventually centres will tell us what they need and when they need it due to the evolution of the Internet of Things. Customers are always changing; shopping less but spending and demanding more. There is greater online presence and increased digital engagement. Ultimately, service charges should be used as investment into the overall customer experience through better and more facilities, and an enhanced environment. We just need to have the right investment in the right place, and be flexible to changes.

MIPIM 2016

The big talking point at MIPIM this year was the rain on Wednesday which lasted all day and sent most people scurrying for cover in the bunker. It was the first time most people could remember persistent rain throughout the day and it changed the atmosphere – pre-booked meetings took precedence over the usual serendipitous catch-ups and, as usual over-running bookings were difficult to reschedule because of overloaded wifi systems.

The organisers have spent a lot of time boosting the possibilities to network with people who you might not otherwise see and several online tools were available on the official site to make introductions – our own experience was that invitations using the system were largely ignored but it is a useful step up in managing scarce time at the conference. As ever, the bars were full, but so were the conference sessions – an eclectic mix of technology and business, mostly under the banner of innovation. Whilst the innovation centre was largely still quiet, its presence is being felt and many mentioned that they had been over the road to see it – somehow, it still needs more oomph, though.

The US contingent was more obvious this year through a coordinated approach from that country’s visitors – special network sessions and a large area in the Palais meant higher visibility and the chance to find contacts in one place.

Another big talking point was the huge availability of money to invest in real estate. With interest rates at all times low, very low yields from other asset classes, real estate has become again a very popular asset class in order to find some return on investment. So more banks than ever were present looking for investors to finance (however, still at rather low loan-to-value ratios and only for triple A-rated objects) and especially the presence of many (US) private equity funds and institutional investors was new; there is a tsunami of money looking for investments in real estate portfolios in continental Europe. This leads to increasing prices, even for properties with high vacancy rates in rural areas! However, most popular to invest in are residential properties, hotels and logistics. So we will see how these investments will actually deliver their foreseen yields when we meet again this October at the Expo Real in Munich.


We’ve been using our Remit Process Model for some 13 years and in that time we have continually updated it to reflect leading practice from the property market.

We thought it was about time to refresh the whole model and we have now done this – looking anew at how people, processes and technology are linked.

The result of our work is an updated methodology which can help our clients find new efficiencies by:

  • Supporting training

  • Improving the use of systems

  • Ensuring regulatory compliance of processes

  • Enhancing reporting and performance measurement

In today’s competitive property industry, we know from experience that efficient and well-managed processes are critical for the success of every company. We expect annual savings to come from increased efficiency in every process project we undertake.

Remit’s expertise can help you achieve an edge against your competitors.

Please contact us for more information.