With the ongoing aim of supporting clients with their real estate strategies, BNP Paribas Real Estate has developed a new data visualisation tool, WIRED (Wearable Immersive Real Estate Dataroom). This 100% immersive tool has been made in collaboration with UNITY 3D, the leading 3D video game and app platform, and created at BNP Paribas’ transformation hub, BivwAk! Combining data visualisation and 3D ability, WIRED provides an interactive map of Europe, which can be used to assess certain areas and geographies in a more in-depth manner.
An unprecedented use of data allowing the user to travel through space and time
Currently WIRED allows the user to access 10 million buildings, 1,000 of which are under mandate. This is done by combining BNP Paribas Real Estate data with open-source data, from local authorities for example.
WIRED can also be used to generate personalised reports based on changes in rents, charges, market data, the environment and public transport, allowing BNP Paribas Real Estate staff to easily produce accurate and immersive market analysis. This allows for future and prospective clients to zoom in on parts of a town or city, giving them the ability to see future housing developments or transport links. WIRED allows clients and investors to modify parameters such as the type of asset intuitively (office or housing for example) and square footage.
WIRED is a pioneering digital twin technology combining convenience with experience and analysis. Its strength lies in allowing the user to be immersed in a city, its neighbourhoods and its buildings. It provides access to the best real estate, socio-economic and environmental information, thanks to exceptional data quality. Its flexibility allows for the sharing of targeted, prospective analysis, reaching markets without being constrained by location or time.
This data is then combined with open data to provide a complete vision of a building and its surrounding area. This will also mean that in a later update, it will be possible to select assets under management by BNP Paribas Real Estate, along with dedicated market analysis of these assets. By providing such in-depth information, WIRED allows users to view current, future or past assets (WIRED can provide data on buildings going back to 1997 or up to 2030). This means projections can be made for the future of urban metropolises, with the inclusion of urban projects that are in the pipeline.
Innovation for real estate investment
WIRED offers an interactive map of Greater Paris, from 2020 to 2030, but the aim is to extend the area in the coming years to encompass the whole of France, and subsequently Europe. This will be done thanks to a team of 15 people dedicated to the project - including 3D developers and designers. The collaboration with these types of technical and creative profiles illustrates the evolution of banking and real estate professions.
The aim for WIRED is to become a cross-platform tool by integrating virtual and augmented reality.
This new and immersion tool, which seeks to serve our clients, will enable our teams to better respond to their questions and needs. The fact that the data is supplemented by open data, accessible in real time by our consultants, makes the tool particularly accurate in its market analysis. We are convinced that these operational innovations are essential in ensuring the flexibility and efficiency of our businesses, and we are proud to be able to continue to revolutionise the market.
Currently, WIRED includes surfaces of over 5,000 m2 and investments of over €30m. With the constant updating of the WIRED tool, new assets, geographies and market data will be added, in a bid to provide the best support to clients and investors with their real estate strategies. The added advantage of WIRED is to provide future investors with a solution that is less costly and longer lasting than many options currently available on the market.
Various 3D data visualisation projections have already been presented to BNP Paribas Real Estate clients, demonstrating the relevance of this solution:
- A foreign investor who is interested in the Greater Paris market and wishes to compare it to other European markets: WIRED allows you to look in detail at the specificities of different cities, to understand the evolution of key fundamentals over the coming years and to view targeted assets, now and in the future - all from a distance.
- A client who wishes to learn about a large real estate project in the Paris region: WIRED allows them to take a real trip in time and space around the project, and to learn about the construction phases by year in the neighbourhood.
WIRED is a tool which can be used at any moment, being available on tablets and large screens. The ease of access allows for WIRED to become an intuitive part of real estate strategies.
With this year’s VivaTech event being held both physically and digitally, it seemed the perfect place to launch WIRED. Combining online and in-person events means creating an augmented event experience, opening up VivaTech for those across the world. This physical and digital experience is also found in WIRED’s platform, which is set to become an essential support for those across the industry, proving how the digital and physical are becoming more closely entwined.
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