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New Approaches - featured
October 10, 2023

What new Approaches Should Firms in the Construction Know About?

The construction landscape is rapidly evolving. This is due to a combination of tech advancements and population growth. So, whether stepping into the industry or looking to take a firm to the next level, understanding the latest situations is essential.

Here are some of the key features that have either emerged in recent times or are set to grow over the coming period. By using this info as the foundation for building a better company, it can be the catalyst for long-term success.

Utilizing AI & Automation

Machinery has been used by construction teams for many generations. However, the growth of automation and AI has opened the door to a plethora of new opportunities. Computer-Aided Design has been utilized for several decades. But developers can now integrate Augmented Reality tools to let end users visualize ideas and play an active role in design.

AI and automation tools also include remote monitoring, which can detect defects and prevent project delays. The integration with CAD tech, along with 99.9% accuracy, has revolutionized the pre-construction stage. For property developers and architects alike. Of course, it offers guidance that subsequently supports builders.

The benefits of AI and automation can also be seen when planning redevelopments or repairs. AI algorithms analyze data, project info, and resource data to deliver detailed reports. It transforms timeline and budget predictions. 

Looking At Alternative Land Types

Finding vacant land has always been a challenge for developers and construction firms. However, it has become increasingly harder in recent years because a greater percentage of land has already been built upon. With this in mind, it has become vital to consider other options to the traditional approach of finding undeveloped rural land.

Developers have now discovered that landfill remediation is an accessible option. It is certainly worth looking at. While work is required to restore this type of land to a suitable level, it can be an ideal way to open up large spaces for condos or multi-family properties. Former dumps and landfills will usually have good transport links and infrastructure in place.

Another very popular choice is to look for vacated commercial properties that can be demolished and turned into homes. Pubs or stores close to existing residential areas stand out as the best choices.

Embracing Off-Site Work

The aforementioned use of AI analytics isn’t only great for surveying land and developments. Modern tech can also allow construction teams to complete a lot of the building work in factories. In turn, this opens the door to faster on-site projects, which also avoid the risk of weather delays. Meanwhile, many organizations now focus only on manufacturing materials.

In fact, the use of prefabricated materials can now facilitate the erection of 10-storey buildings in just 28 hours. The possibilities created by factory-made buildings are huge. It has also enabled many homeowners to build their dream homes at a far smaller cost. Firms that focus on land preparation and building installations can work through projects very fast.

Off-site work can also extend to ideas like 3D printing specific parts needed for a project. Either way, spending less time at the site will usually mean hiring fewer contractors, which will translate to reduced labor costs.

Moving To Short-Term Rentals

Changes to the construction and property development landscape aren’t limited to tech. Organizations and individual investors should make calculated decisions. They should reflect evolving mindsets and new human habits. Perhaps one of the most impressive opportunities stems from short-term rentals. Landlords and property management firms can see their returns soar.

Turning a property into an Airbnb for holidaymakers or a corporate rental may seem counterproductive. After all, it means that dwellings won’t be occupied 365 days of the year. However, the fact that you can charge higher nightly rentals means that the overall ROI is higher than having a standard tenant. Even if you only have it filled for 50% of the time.

Businesses in this sector can respond by offering property management services. Or simply by helping property owners transform rental properties so that they are catered to the new audience. Ignoring this niche could be costly.

Safety

The construction industry has statistically been one of the most dangerous for many generations. From residential projects to government projects and civil engineering, injuries are quite common. Companies across the sector must now place an added emphasis on safe working practices. 

Several construction standards and regulations are now in place to guide companies and workers alike. The use of modern tech, including the ideas mentioned above, can transform on-site situations. Checking all safety equipment while ensuring that all contractors are trained in health and safety should be on the agenda too.

Finally, as well as protecting people, firms should think about the planet. Where possible, using eco-friendly materials and practices is advised. It can improve reputations and ROIs with permanent results.


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