Real estate development projects are seldom completed in their planned budgets. Traditional development techniques and practices lack effective and fast collaboration between all the parties involved in the development process. Architects, engineers, suppliers, and construction workers need strong communication to help reduce the overall cost of projects. Building Information Modelling (BIM) is a revolutionary system that incorporates all stakeholders in a construction project on one platform. Processes are streamlined as changes in design and other areas can be viewed simultaneously among all parties. That allows project members to design and build collaboratively using one system of models. Continue reading to understand Building Information Modelling (BIM) and its significance for the real estate sector.
What is a Building Information Modelling (BIM) System
Business Information Modelling (BIM) has been growing in popularity over the years due to the multiple benefits it offers to real estate projects. The Architecture, Engineering, and Construction industry is known for its late adoption of innovative technologies. Due to high stakes being involved in all these industries, tried and tested methods are often preferred over new ideas that can have a positive or negative impact. Many overhead costs in construction projects are a direct result of a lack of collaboration between the different parties working simultaneously. If the design changes made by architects are not effectively communicated to engineers and construction workers, there is a high chance that by the time things are approved, structural changes would be required. That would also waste time, energy, and expensive resources. The same can be said for changes proposed by engineers and construction workers. Therefore, in quest of higher productivity through the adoption of collaborative practices, owners of construction projects have been prompted to explore BIM systems.
A building in Hamburg, Germany, cost 600 million dollars more than its expected cost. While the Grand Paris Express will be 9 Billion over budget by the time it is completed (Langfeldt, K.). Business information modelling is different from 2D or 3D modelling as data associated with physical and functional characteristics of a building is merged to form more in-depth models. These models not only define the design elements but also establish behaviour relationships between different model aspects. Changes made to one aspect of the project can be reflected in real-time in terms of the impact on other areas. One of the biggest challenges in real estate development and construction is the communication between multiple stakeholders. As more people get involved in the project, it becomes complex and chances of information getting lost are also increased. Therefore, if everyone can work on the same project simultaneously, efficiency and productivity can be increased manifold. (Webinar: Get the most out of a BIM | PLANON)
How is BIM Used in the Real Estate Sector?
Building information modelling systems have wide-ranging impacts. Architects, engineers, and construction workers are three main groups that stand to gain massively from the technology. When computers were introduced to real estate, many did not understand that computers are fast, reliable, and more accurate than human beings. The calculations and measurements carried out by humans had a large probability of error, increasing the overall cost of the project. But since real estate professionals started to endorse the use of technology, the sector has seen massive growth in profitability and efficiency. One might make the mistake of understanding BIM as an advanced form of 3D modelling, but that does not consider the information part of BIM.
With BIM, one can zoom in and select any element of the building to find out information such as what it’s made of, who made it, how much it cost, who will install it and in what order it needs to be installed in the building (Valentine, 2019). That creates massive opportunities for planning, cost efficiency, gauging environmental impact, and multiple other considerations. Property developers should see BIM as a massive opportunity for the real estate sector. Property investors in the USA are spending 300 times more on BIM than property investors in the UK (Valentine, 2019). By using BIM, projects are more predictable in terms of cost and schedule.
Better planning results in fewer delays and happier clients. The technology provides complete transparency of every aspect of the construction phase. Looking at architects, BIM technology provides more control over the project and planning errors are made visible at an early stage. Also, integration of new technical concepts can be done in the early design phases. In terms of structural engineers, loss of information and carelessness can be reduced, while also highlighting areas of high consideration that can otherwise be overlooked. Therefore, BIM technology can revolutionize the real estate sector and the construction industry (EBP, 2021).
Is Pakistan Ready to Implement BIM Systems?
Pakistan’s real estate industry, although relatively young in terms of technology adoption, has massive potential for implementing BIM systems. Pakistan is blessed with a large population of youth that is proficient in technology and engineering. Programs by the incumbent government that support technology startups has encouraged many to bring forth innovative technologies in the field of real estate, agriculture, and manufacturing. Companies like Graana.com, Pakistan’s smartest property portal, are also playing a massive role in bringing new technologies, such as Artificial Intelligence and Virtual Reality to the real estate industry. Considering the massive demand for real estate development in Pakistan, the introduction of BIM systems can not only make the development of real estate more efficient and cost-effective, but it can also allow for the sector to cater for sustainable development and environmental protection.
Building Information Modelling (BIM) is a revolutionary technology that not only allows for architects, engineers, and construction workers to plan efficiently but also reduces the cost and chances of error in a real estate project. Many have mistaken BIM as just a higher version of 3D modelling. But the fact that information regarding every aspect of the building can be incorporated at minute levels, takes the ordinary model to an entirely new level. Pakistan is a country rich in resources and opportunity. Proper implementation of BIM technology in Pakistan can revolutionize the real estate sector.
Langfeldt, K. (2019). How to save millions with BIM | Real Estate Digitalization. Retrieved 25 May 2021, from https://prompto.com/how-to-save-millions-by-using-bim/
Webinar: Get the most out of a BIM | PLANON. (2021). Retrieved 25 May 2021, from https://pages.planonsoftware.com/uk-building-information-modeling-on-demand.html?utm_source=marketo&utm_medium=email-trigger&utm_content=webinar&utm_campaign=uk-building-information-modeling
EBP. (2021). BIM Building information modelling (Real estate). Retrieved from https://www.ebp.ch/en/topics/real-estate/bim-building-information-modeling-real-estate
Valentine, J. (2019). Building information modelling is now part of the real estate industry. Retrieved from KREO: https://www.kreo.net/blog/building-information-modelling-is-now-part-of-the-real-estate-industry