Developers these days are asking themselves some key questions:
Karim Jabal
“How can I attract premium tenants in these spaces?”
“How do I increase the revenues that my building produces in an innovative way?”
“What can I do during concept and design to capture a higher percentage of the market share?”
There’s a common low-cost solution that helps answer all those questions, says Karim Jabal, director of technology management and strategy at Grand Canyon Development Partners, a construction and real estate development management company with offices throughout the Southwest.
The answer is the best use of technology.
What are some recent examples of tech implementation in Grand Canyon Development Partners’ local projects?
GCDP is managing the development of a 300,000-square-foot high-visibility retail project in the center of the Las Vegas Strip. The development includes two levels that will house food and beverage, entertainment and retail tenants.
On top of that, a third level will be a 100,000-square-foot rooftop experience that immerses occupants in the energy of the Las Vegas skyline. One of the key components of that project is technology deployment. We worked with the owner to envision the technology experience utilizing large-format, direct-view LED displays that will provide an immersive canvas for digital art and advertisements.
The experience will impact people on the premises, pedestrians and those driving by.
Technology is no longer just capital expenditure to put something expensive up that looks pretty; technology now allows the developer to attract preferred advertisers generating revenue. The technology in this project translates into smart business decisions.
Are you seeing any implementation of artificial intelligence in the construction industry? If so, what are your thoughts on this?
There is no one right answer. Artificial intelligence is a tool that we utilize to enhance the way we build things. Using building information management (BIM) and computer-aided design (CAD), there’s a lot of automation taking place in those processes.
AI is not just some magical box that you speak to and say, “design a building.” It still requires trained professionals to program and automate. AI helps a lot with the coordination of smart design and building construction. Design and construction professionals are tasked with avoiding as many conflicts as possible between all the various building systems before they become expensive “fixes” and potential delays in the field.
Technology provides conflict avoidance between mechanical, plumbing, electrical, technology and structural systems that aren’t always visible when installed behind walls and ceilings. Its implementations in software platforms generate insightful data for building developers to make informed decisions. AI provides construction personnel with alternative solutions that could save on cost and help condense construction schedules.
Are you seeing any trends locally (or beyond) involving technology in the construction industry?
We do. The trend will be analytics gathered by technology. Developers in a multitude of market sectors and geographical territories are implementing IoT (Internet of Things) devices and utilizing Wi-Fi networks to engage with end users.
Cameras work with software to provide analytical data pertaining to foot traffic and building occupant trends. Analytics assist building owners to influence marketing strategies, customer behavior and measure engagement.
There is a movement toward implementing technology in built environments to best engage the people who use those buildings. Experiential technology that interacts with customers in a bespoke way leaves a lasting impression that brings people back to those spaces.
When coupled with the use of social media, people want to feature the technology that they have experienced on their personal social platforms. Developers realize that the project then becomes a destination that can be hash-tagged and posted, activating spaces and drawing more people to those places to socialize.
Where do you see technology in your field going in the next five to 10 years?
Technology will continue to find ways to create efficacy. We constantly seek efficient ways to construct buildings safely, while staying on time and remaining within budget.
Human intelligence and AI will work in conjunction with each other in ways that create efficiencies and opportunities for better and safer projects. Capital can be invested wisely on projects creating a greater impact to the end user and significantly increase the return on investment for developers.
Spaces that house high-density residences, business professionals, retailers, educators, entertainment professionals, health care practitioners and sports professionals can then expand and grow into various markets a lot sooner to satisfy growing customer demand.