Proptech Insights: Walmart, Galvanize Climate Solutions, and Smart Spaces: Introducing Sustainability in Real Estate

Hello and welcome to today’s PropTech Friday Edition, your monthly dose of fresh real estate news. I’m Wes Snow, and I'm excited to bring you the latest updates and news in the industry.   

Throughout 2024 we’ve been dedicated to the topic of AI in real estate. Well, it checks all the boxes: it’s smart, new, and business-effective. Apparently, it’s not only shrewd to be AI-focused but also sustainable. What a combo, right?   

Commercial Real Estate is Going Green 

Recently, I’ve been seeing lots of companies here and across the pond going green. The UK-based Smart Spaces® are joining the movement with their ideas of "smartification".  

Dan Drogman, the CEO, highlighted that IoT, AI, and intelligent building systems are driving significant changes. The result: commercial real estate becomes greener, more efficient, and better suited to evolving tenant needs. 

Just look at this: Back in J.P. Morgan reported that real estate technology could ‘permanently alter the development, marketing and management of properties’, with smart buildings benefitting ‘owners, operators and occupants in numerous ways’. 

If you want to take the first steps in becoming smarter in CRE and eventually joining the eco-friendly business, check out Ascendix’s piece on CRE tools that certainly make going green feel like second nature. 

Canadian CRE Industry To Embrace Sustainability 

And now we are back to the continent, where Canadian CRE leaders are discussing the need to adopt sustainable technologies to stay competitive. 

Photos: Courtesy of BGO, Windmill Development and Dream Unlimited 

Christina Iacoucci highlighted that achieving net-zero emissions will require collaboration across the industry. While sustainability efforts are advancing, they come with challenges, including higher costs. 

The journey to net zero is an ambitious goal that will require a collective effort from the entire industry. 

Both Iacoucci and Dan Van Leeuwen of Windmill Developments see AI as essential for boosting efficiency and driving sustainability. AI can optimize building materials, streamline construction, and reduce costs.  

We need to embrace the adoption of artificial intelligence and understand how best to utilize AI in all aspects of our business to become more efficient and effective. 

Hero Mohtadi of Dream Unlimited is focused on building eco-friendly communities, and their Zibi project is a great example. Zibi is a neighborhood in Ottawa and Gatineau that doesn’t produce any carbon emissions because it uses a special heating and cooling system that reuses leftover energy from nearby industries. This makes it the first community in North America to achieve such a high level of sustainability. 

 In short, AI and innovation in materials and construction are key to driving sustainability and meeting the demand for greener properties in commercial real estate. 

GEOX Raises $19m To Enhance Climate Risk Analysis in Real Estate 

GEOX, Israeli startup, is at the forefront of using AI to analyze real estate risks. Their innovative technology uses 3D analysis of aerial imagery to deliver automated and precise assessments of properties, predicting potential damage from natural disasters like hurricanes, floods, and wildfires.  

Photo: Fabian Koldorf 

I see immense value in GEOX's innovative approach to real estate. In an industry where accurate data is paramount, the growing reliance on such advanced tools reflects a crucial shift in our approach to risk management in real estate.  

Walmart Partners to Develop 3D Printed Retail Buildings 

3D concrete printing has another big player such as Walmart. Walmart has partnered with Alquist 3D, a Colorado-based construction company, to construct an impressive 8,000-square-foot addition to its store in Athens, Tennessee. This is the retailer's first major use of 3D printing technology in a commercial setting, showcasing its potential to revolutionize the way retailers build facilities. 

In my opinion, with the demand for affordable housing and efficient construction methods, innovations like these could reshape commercial real estate. I look forward to seeing how this technology evolves and is embraced by the industry. 

Galvanize Climate Solutions Is Funding Green Technology 

Listening to podcasts has really grown on me, and this week I tuned into the latest episode of Fortune’s Leadership Next podcast. Host Diane Brady had a compelling conversation with Tom Steyer, co-executive chair of Galvanize Climate Solutions.  

Steyer explained that Galvanize Climate Solutions operates on multiple fronts, from venture and growth investments to real estate and public equities, all aimed at driving the clean energy transition. He shared an interesting example of new geothermal energy technologies that use oil and gas drilling methods to reach greater depths. This approach provides clean and reliable energy that can be consistently produced. 

Here are more insights from the podcast:  

• China's Dual Role: While China is the largest CO2 emitter, it also leads in producing solar panels, batteries, and electric vehicles, presenting a significant economic opportunity for the U.S. 

• Public-Private Partnerships: A strong collaboration between government and private sectors is essential for the clean energy transition. Policies like the Inflation Reduction Act should incentivize clean energy production rather than just penalize pollution. 

• Political Landscape in Silicon Valley: Despite gaining some Republican support, Silicon Valley remains a moderate Democratic stronghold, which influences how businesses and government can work together to achieve climate goals. 

If you are like me, always eager to find out the latest trends in the industry, enjoy Ascendix’s piece on proptech 2024 trends. 

If you interested in leveraging AI for your real estate business but do not know where to start, feel free to book a free AI consulting call. With more than 16 years in real estate and technology, Ascendix will make sure you have the guidance and tools needed to keep up with the competitive real estate market.

And that wraps up this week's roundup of real estate and proptech news. Share in the comments your most insightful Proptech findings!