News:Review Expo Real 2024
The event is back! At least that was the general mood in the seven halls of Europe's largest property exhibition. Although the difficult economic situation has not yet been completely overcome, the industry is keen to set the course and actively shape the construction of tomorrow.
'Things are looking up,' says Herwig Schwarz, managing director of STRABAG Real Estate. The question is how quickly, whereby we have to differentiate between the different recovery speeds of the individual assets and the individual trends in the individual countries and regions. While we are seeing a breath of fresh air in the hotel and residential sectors, the recovery in the office sector will take even longer. As STRABAG Real Estate, we have the advantage of a broad portfolio and extensive experience along the entire value chain. In particular, our expertise in residential construction is currently in high demand, as it enables us to reliably realize quality projects even in difficult times.'
Siegfried Wanker, member of the Executive Board of STRABAG SE, has also noticed an improvement in sentiment: 'The fear of further interest rate rises that was noticeable last year is now only barely perceptible. The buyer's block caused by interest rate uncertainty seems to be coming to an end. Like many others, he therefore expects a slightly more favourable financial year in 2025. The crisis is coming to an end,' says Siegfried Wanker. Supply and demand are converging again, and well-developed properties will meet demand again next year.
An industry wants to provide ideas
The will (and need) to advance issues such as sustainability, affordable housing, decarbonisation and digitalisation at Expo was, of course, matched by the question of what is currently feasible, and a renewed recognition that large-scale change is likely to require collective effort and shared expenditure. Making the world a better place is a noble endeavour in principle, but it requires not only capital and good will, but also tangible solutions, which usually require hard work. The fact that new paths often lead down blind alleys, but at least provide valuable insights, is an experience that many speakers and exhibitors shared relatively openly in the panels. Here, too, there was a new sense of togetherness. A frequently heard basic message: Sharing knowledge saves time for all concerned - a realisation that is likely to come more quickly in times of great need.
AI as a beacon of hope
There are high hopes for working new solutions in the rapidly advancing technological developments - especially AI-based solutions for intelligent design, construction and operation. This year, for the first time, the Expo gave PropTechs a highly visible stage with a specially branded area ('Transform & Beyond'). With the help of artificial intelligence, everything will be more resource-efficient in the future - from energy management to car park management, green power management, charging point supply and general building operation. As in previous years, the appeal of PropTech extends to all areas of application: The earlier you get involved in the planning phase, the greater the potential savings. Some 40,000 participants and 1,778 exhibitors from 34 countries showed courage and perseverance in Munich - in the knowledge that it will be some time before there is a noticeable upturn, reflected in the figures - probably until after Expo Real 2025, which will take place from 6 to 8 October.
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