Kanha Teang is one of six new Dig-IT Lab PhD students, focusing on developing research-based solutions for industrial digitalisation challenges. Her background as a property valuer provides highly relevant expertise for her research project, which aims to explore how integrating building digitalisation into real estate business models can unlock untapped value and enhance sustainability in the real estate sector.
Hi Kanha, what were you doing before joining Dig-IT Lab?
I worked as a senior property valuer at CBRE, an international real estate company, where I assessed property values across various asset types, including commercial and residential properties, logistics facilities, and land plots. My responsibilities included analysing property characteristics, evaluating cash flows, conducting detailed market analyses, and preparing valuation reports. This allowed me to integrate real estate economics with building technical knowledge.
What will you be doing as a PhD?
My PhD project focuses on Digitalisation and Business Models in Real Estate Management. Specifically, it examines how the integration of digitalisation into physical buildings adds value and impacts property value. The project also explores the strategies property owners can adopt to incorporate digitalisation into their business models effectively. I believe traditional valuation methods often overlook the untapped value of smart or digitalised buildings. This research project seeks to challenge the conventional valuation approach, which heavily relies on historical data and assumptions. Instead, I propose utilising real-time operational data obtained from integrated digital solutions, such as sensors and visual technologies, to gain deeper insights into the variables influencing operational costs, income, and processes.
Are there any challenges related to sustainable digitalisation within the area of Digitalisation and Business Models in Real Estate Management?
One of the primary challenges in achieving sustainable digitalisation in this area is the high cost of integration, while its benefits to property owners are often regarded as speculative. Additionally, the complexity of processing and utilising data obtained from sensor operations presents a significant challenge, as the data is often unstructured and requires advanced analytical capabilities to unlock its potential. Furthermore, the persistent skills shortage in digitalisation hampers the sector’s ability to fully harness its potential, often leading to perceptions of unreliability. Lastly, compliance with data privacy regulations, such as GDPR, introduces additional hurdles, necessitating further research and robust frameworks to ensure adherence.
How can your research contribute to address those challenges?
My research aims to illustrate the value created through the adoption of digitalisation and to identify barriers in its implementation that affect property value, with the goal of integrating these insights into real estate business models.
Research project: Digitalisation and Business Models in Real Estate Management