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Real Estate & the New Economy The impact of information and communications technology
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The overall aim of this book is to show how new technology (i.e. Infor- mation and Communications Technology (ICT)) is impacting on the shape and form of real estate in our towns and cities, and how it is influ- encing and is being influenced by other forces within what many commen- tators call the ‘new economy’, as part of an ‘information society’.
UK private sector commercial property (office, industrial and retail) is a large and important asset, representing some £400 bn or 34% of total business assets. Business property also represents 17% of UK fixed tan- gible assets (Capital Economics 2002). Yet social and economic forces for change, linked with new technology, are leading owners and occupiers to question the very nature of property and real estate, and the purpose it should serve. The key question therefore arises: what are the implications of ICT impact for the amount, location, configuration and type/nature of real estate assets? In this sense, if ICT is improving productivity (in space and output terms), will this reduce the demand for real estate in certain sectors (i.e. retail, offices and industrial), and the overall demand for real estate floor-space? Will new and existing property be reconfigured?
1-4051-1778-8
NONE
Information Technology
English
2005
1-430
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