BREL forum 2023 main insights: Talent attraction to the region, more green projects, space for meaningful moments and AI implementation into real estate industry
Real Estate leaders from the Baltic region and other European countries gathered for a one-day BREL Forum in Riga on October 12 to discuss latest challenges in the industry. During the debates Zygimantas Mauricas, the Chief Economist at Luminor Lithuania, noted that inflation will go down, but there will be lack of money and high unemployment rate. Despite current situation in the economics, Baltic countries probably have never been as prosperous as they are now stated Zygimantas Mauricas. “When looking on macroeconomic graphs, we have never been so close to the Western world,” he said.
Real Estate leader Jan Kamoji-Czapiński, Director Location & Incentives Strategy at EMEA Hickey & Associates, believes that for the Baltic states to stay competitive and attract foreign investors, more talents need to be captured, Baltic countries should truly take ESG (environmental, social and corporate governance) issues into account as they are getting more and more important and consider the true incentives’ war will play out in Europe.
In the same time – this is a historical opportunity for capturing large manufacturing green projects.
Kate Nightingale, Chief Behavioral Officer of Humanising Brands Ltd, also stressed the importance of considering human factor. For real estate objects to be competitive and attractive to its tenants, developers should ‘’Humanize spaces’’. As an example – retail stores are not 4 walls anymore, but people’s meaningful moments and this should be taken into consideration. As most our human decisions are made unconsciously, the study of human behavior suggest to bring together such a basic need as feeling safe together with self-expression factor as values and beliefs.
Another important statement noted in BREL Forum 2023 by Renata Hartle, Real Estate Innovation Expert at Colliers Poland, was that the new implementation of AI in real estate industry is also here to stay. “Despite the controversies around AI – smart buildings are our future. Not only will it improve integrated operations and make operational savings, but also create inspirational experience, which attracts tenants. Therefore, all factors of implementing AI will create a higher asset value,” she noted.
About BREL Forum:
BREL Forum is the most important Real Estate Leaders event in the Baltics. For 12 years, BREL has gathered Real Estate developers, investors, constructors and other industry-related experts and professionals. The organizer of the BREL Forum is international real estate company Colliers, main partner of the forum – Capitalica Asset Management and Preses Nama Kvartals, forum partners – LiveRiga and Pillar.