COVID-19 is just a new impetus to the digital transformation that has been sweeping industries and businesses. In the real estate market, Netix Global believed building management systems (BMS) and building automation systems (BAS) are the backbone of a real-estate portfolio’s lifecycle.
Often cited as the critical enabler of optimal performance, automation capabilities keep assets across a building portfolio running optimally, for longer.
However, across a building’s lifecycle, as occupants and service personnel change and equipment is either added or retired, existing BMS solutions are often rendered ineffective. Today’s building portfolios are often complex and employ highly inter-dependent systems that can significantly impact performance.
An improperly maintained BMS results in elevated energy and equipment maintenance costs. “While high energy use is often accepted as an unavoidable operational expense, it is also the best area for cost reduction,” said Sanjeevv Bhatia, CEO of SB Group. “Typical annual savings on energy consumption can be as high as 30% with a well-maintained BMS. For instance, if your utility cost is US$ 300,000 a year, a fully optimised BMS can save you up to US$ 90,000 per annum,” Bhatia added.
Achieving optimum building performance requires all equipment and systems to be performing effectively and efficiently. However, as legacy systems age, ensuring their upkeep becomes more difficult, especially if the system requires costly and customized solutions. With a wholesale replacement of assets too expensive to justify, upgrades are often overlooked.
The next generation of digital solutions is now addressing these limitations, adding to their value proposition with an open protocol approach to BMS.
Bhatia explained that smart upgrades to legacy building management systems accrue cost savings from day one and offset the capital expenditure involved in a relatively short period. With open protocol solutions, real estate businesses can take advantage of the best Proptech features in the market.
“Rather than only relying on outdated legacy hardware, newer systems can automate, inter-connect, and consolidate a multitude of automation systems for a more efficient, smarter building system” he added.
The smart BMS upgrades advocated by Netix Global also have the advantage of being able to optimize all assets in a building portfolio from one central command and control centre.
“We have often seen two identical buildings, with similar occupancy levels, in the same portfolio, show vastly different energy consumption, with energy bills sometimes being almost double that of the other”, Bhatia elaborated.
“In instances such as this, integrated building management solutions is the inevitable next step to improve operations, ensure business continuity and drive significant cost savings in the long run."
Achieving optimum asset performance, sustainability, cost-effectiveness and end user experiences requires an integrated approach that monitors and manages all automation across a portfolio, in real time.
A well-maintained and agile BMS solution can be the most effective way to optimize real estate operations and enhance property value in the long run.
"A perfectly running BMS plays a crucial role in determining a property’s market value. Apart from reducing operating costs, it helps maintain high occupancy rates through optimal performance, reduces tenant turnover, and helps an owner gain a competitive edge in the marketplace", Bhatia reiterated.
