With offices covering major political and financial centers of the world and expertise that covers property valuation, construction projects, development of infrastructure and management of natural resources, RICS’ latest Futures report is significant to the world of FM. Understanding the growth in property development and real estate is a key observation area for the FM of the future responsible for the management of these facilities. Here are some of the key trends from the video that are reshaping the world in which we live and work.
- Growth in urban population: In 1950 urban population was at 30%; in 2015 urban population was at 54% of total population; in 2050, the urban population is expected to reach 6.3 billion, 70% of the estimated total population of 9 billion in 2050.
- Growth in construction output: 70% increase in construction output, with just 7 nations likely to account for 72% of that growth.
- Growth in global real estate investment: Reached US $710 bn in 2014.
- Growth in demand for resources: The world will need 50% more food, 45% more power, and 30% more water than it did in 2012 according to UN High Level Panel on Global Sustainability.
- Growth in innovation from building information modelling (BIM), growth in 3D printing applications, smart sensors, internet of things, artificial intelligence.
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