BimScaler Blog – Digital twins real estate are like virtual replicas of physical buildings, systems, or spaces. They’re created using a mix of 3D modelling, sensor data, and AI.
Why should real estate professionals, investors, or even potential homeowners care?
Digital twins are changing the way we interact with properties. They make real estate management more efficient, sustainable and, ultimately, more profitable.
So, why not get started now?
Benefits of Digital Twins for Real Estate
Nikolai Bolshakov and colleagues say in their study, “Digital Asset in the System of Real Estate Management,” a digital twin is a virtual copy of a physical asset that can be updated in real time.
This lets you integrate and manage data throughout a building’s life. And there are so many great things to gain from the integrations.
One of the big plus is how digital twins can cut operating costs. Integrating real-time data from IoT sensors means digital twins can monitor and optimize energy consumption, which can lead to significant cost savings.
For example, real estate owners can cut operating costs by using digital twins to manage HVAC systems, lighting, and other utilities effectively.
This level of detail means property managers can use data to make efficiency improvements, reducing waste and boosting sustainability.
Another big plus is a better experience for tenants. Digital twins let you see properties in 3D, and you can take virtual tours whenever you like.
This 24/7 access also helps to improve the leasing and sales process, as well as making customers happier.
On top of that, digital twins help with predictive maintenance, which is a proactive approach to building management.
By keeping an eye on data from building systems, digital twins can spot when equipment might need a bit of TLC before it actually breaks, schedule maintenance at the best times and stop any costly downtime.
For further insight into how digital twins work in asset management, kindly read “Your Assets, But Virtual: The Scene of Digital Twins for Asset Management.”
Applications of Digital Twins in Real Estate
In their paper, “How Digital Twins Can Make Smart Cities Better,” Kaveh Vessali and colleagues from PwC talk about how digital twins can be used to create detailed simulations for city planning.
This helps planners figure out how different development scenarios affect infrastructure and resource allocation.
During the design and construction phases, digital twins help architects and engineers test out different building designs, see how they affect energy efficiency, and make sure they’re working as smoothly as possible.
For example, using digital twins for a mixed-use development project can help track key metrics like workforce efficiency, materials delivery, and safety protocol adherence.
In property management, digital twins provide a centralised platform for integrating and managing different data sources.
This consolidation lets facility managers fix problems fast, make the most of the space, and improve how the building works overall.
For instance, combining digital twins with BIM data and IoT sensors gives you a complete picture of how a building is running, which helps you make better decisions and improve the experience for tenants.
Digital twins are also super useful for urban planning and smart city development.
They let city planners test out different urban situations, see how environmental factors affect things, and make the best use of resources.
Take Singapore and Sydney, for instance. They’re using digital twins to make their cities more resilient and sustainable.
They’re tackling issues like traffic congestion, air quality, and energy management.
ByungYong Kwak’s “A Digital Twin-based Approach for Land Administration” builds on these ideas by bringing digital twins into land administration systems.
One big way digital twins are used in land administration is to create 3D cadastral systems.
These systems offer really detailed visualisations of property boundaries, ownership details and land use patterns.
By giving us accurate, up-to-date spatial data, digital twins help make land registration processes more efficient, cut down on disputes and make land transactions more transparent.
On top of that, digital twins help bring together underground utility data with above-ground infrastructure, giving us a complete picture of all the city’s assets.
Digital twins are also really useful for making sure the public is safe and that emergency services can respond quickly when needed.
By running through different emergency situations, city planners and emergency responders can work out the best way to respond, and be better prepared for natural disasters, fires and other emergencies.
For example, digital twins can show how fire spreads in a building, helping to find the best way to evacuate people and make the building safer.
If you’d like to know more about how digital twins and sustainability are connected, kindly read “From Pixels to Planet: Digital Twins and Sustainability for Greener Projects.”
Future of Digital Twins in Real Estate
Fortune Business Insights reckons the global digital twin market was worth USD 12.91 billion in 2023.
The market is set to grow from USD 17.73 billion in 2024 to USD 259.32 billion by 2032, with a CAGR of 39.8% during the forecast period.
Another big trend is combining digital twins with AI and machine learning. This makes them better at predicting what’s going to happen and helps buildings work smarter and respond more quickly.
We’ll also be seeing a lot more focus on sustainability, with digital twins helping real estate owners achieve net-zero goals.
By showing us exactly how much energy and resources are used, digital twins help us put in place the right sustainability measures to reduce our carbon footprint and improve our environmental performance.
For example, keeping an eye on HVAC energy use and making sure the lighting is just right can make a big difference to energy consumption and greenhouse gas emissions.
On top of that, we’ll see more and more buildings working together, sharing data and resources to create one big network of smart buildings.
Digital twins will link up lots of buildings and systems, so that data can be shared easily and managed together.
How You Can Get a Digital Twins Support System
There’s no doubt that digital twins have huge potential in real estate.
But as with anything new, there are a few hurdles to overcome in the initial adoption phase.
These often involve technical complexities, data integration issues and the need for specialised expertise.
At BIM Scaler, we get it. We know these challenges are real and we’re here to help.
We offer comprehensive CAD and BIM management support, including tailored solutions for digital twins.
We’re here to make digital twins accessible and manageable for real estate projects of all sizes.
We’re all about customisation, so we’ll make sure your digital twin is perfectly aligned with your project goals.
We take care of all the technical bits and pieces, making sure your digital twin fits right in with your existing systems.
This means you can focus on what you do best – managing your real estate assets.
If you’d like to know more about how BIM Scaler can give your real estate projects a boost with digital twins, we’d love for you to visit our BIM Management Support page.
Or, if you’d like to discuss this further, just drop us an email or give us a call today to make an appointment for a meeting over lunch. We’d love to show you what we can do for you.
In Closing
Digital twins are gradually transforming the real estate sector by offering real-time data, predictive maintenance, and enhanced tenant experiences.
This technology is assisting the industry in developing more intelligent and sustainable buildings that cater to the needs of tenants and stakeholders.
