Asia-Pacific Real Estate Sector Poised for Growth, Modular Construction and BIM Take Center Stage
The Asia-Pacific economy is gearing up for remarkable growth, with a projected 3.8% increase in Q2 2023, surpassing the global average by 1.7%. This economic upswing sets the stage for a vibrant real estate market, with Statista projecting a market volume of US$235 trillion in the residential sector for 2023. The escalating demand for integrated, self-contained communities mirrors the ongoing urbanization trend in the region, making the real estate sector a focal point for development to accommodate an additional 1.2 billion people by 2050.
Countries like Indonesia, Malaysia, and the Philippines are witnessing a significant surge in the development of new townships tailored to meet the demands of rapidly expanding urban communities. This growth is fueled by modern construction methods such as modular, offsite, volumetric, and BIM-aided construction. In the Philippines, modular construction is emerging as a solution for fast-paced residential housing, particularly in light of expected population growth and seismic events in the region. Authorities are increasingly turning to modular technologies for robust and quickly deployable structures, extending their applications to various sectors including life sciences, data centers, and public infrastructures.
Across Southeast Asia, the adoption of Building Information Modeling (BIM) is intensifying. According to Arcadis’ research, the Philippines leads the digital maturity curve, with over 60% of companies in the AEC (Architecture, Engineering, and Construction) industry applying BIM in their projects. This trajectory suggests a potential shift towards BIM techniques replacing traditional construction methods in the future.
The Modular Construction, BIM & Township (M.B.T) Summit provides a platform to explore how real estate developers and construction companies are leveraging modern construction methods to navigate the expanding construction market. Attendees will have the opportunity to delve into the latest trends, innovative projects, and strategic insights from industry leaders and experts. The summit aims to address opportunities and challenges in creating sustainable, smart, and inclusive communities using the power of BIM and Modular Construction to meet evolving residents’ and business needs.
Join us at the Modular Construction, BIM & Township (M.B.T) Summit to stay ahead of the curve in the rapidly evolving real estate landscape.
For more information and registration, visit
https://drive.google.com/file/d/1lwVbSt9d_d9E4WY_8rJ1lEZEBJy096Fp/view?usp=sharing
Published on May 20, 2024.
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