Quantitative Models for Sustainable Smart Services in the Building Industry

The construction and real estate industry's profound impact on the environment has fueled a growing emphasis on sustainable building practices. This paper delves into the environmental and economic implications of smart services for building operations. Drawing from an empirical study conducted in collaboration with a major Swiss real estate company, Implenia, this research investigates the perspectives of property owners, property managers, and consumer tenants regarding smart building services (i.e., tenant platform). Quantitative assessments reveal the potential economic value created through the integration of smart technologies, showcasing increased revenues for property owners while factoring in initial equipment costs and additional rental income. However, the environmental benefits, measured in CO2 equivalents, are found to be less substantial than initially assumed. This study underscores the positive impact of smart building technologies on stakeholders. Despite its preliminary nature, the research offers insights into stakeholder preferences and highlights the potential for future advancements in more sustainable IoT solutions within the real estate industry. As the real estate industry continues to evolve, this study serves as a foundation for further research and collaboration to enhance the economic and environmental value of smart services in building operations.