If you work within the property development sector you will be aware of the restrictive elements of developing areas that are not on your doorstep. Unless you are able to travel to every site you are involved with, it’s extremely difficult to visualise the project in “real time”. It is also hard to imagine how the final outcome of the property will look once completed. Of course you will be able to view plans and photographs, but the overall effect will be somewhat lacking in comparison to actually being there. Therefore investing in property development overseas has always carried an element of risk, as you don’t know absolutely what you are taking on.
The construction industry has remained unchanged for years and it is the one of the last sectors to be influenced by technological advancements. This is changing, which is fantastic news for the property developer. New technology now allows companies such as gnet.ie to transform sketches, ideas and 2D plans into 3D photorealistic views and animations. Viewing a project in 3D allows a more realistic perspective to be attained, which allows for better investment decisions.
As well as 3D technology, advancements are reaching other areas of construction. The whole industry is likely to be revolutionised in the near future.
Drones are being utilised more and more in the surveying of land earmarked for development. Surveying land in the traditional way is labour intensive and laborious, surveying land from the ground is also susceptible to human error. Surveying the land via drones is quick and cost effective as well as being safe. Hazards present in the area being surveyed can also be easily identified from the sky, which lowers the chance of accidents to construction workers. The security of building sites can also be effectively monitored as the drone provides a birds eye view.
Virtual reality technology is being implemented into many sectors ranging from medicine to tourism. In construction virtual reality is extremely useful, especially if you wish to view an area or property some distance from you. Virtual reality is a fully immersible experience, which allows you to walk through properties room by room and view an area as if you are actually there. Of course it is still fake, but it gives potential buyers and investors a much clearer idea than photographs and plans.
3D printers have been around for a while and the media have highlighted the incredible ways that 3D printers can build prosthetic organs in the medical field, musical instruments and car parts. China has recently used 3D printing technology to build 10 hours all within 24 hours from start to finish! If this technology can be developed further by property developers in other countries, the current housing crisis could be reduced considerably. Manpower costs are reduced and there is less wastage of materials, not to mention the speed of the process.
To conclude although the construction industry has stayed mainly technology free up until recently, there is no limit as to how technology will affect the sector in the future. The traditional working model of a construction firm is likely to change considerably and the industry will need to adapt in order to incorporate new innovation.