BIG merger proves big money is on commercial, not residential, proptech now

The British Property Federation (BPF) and the UK PropTech Association (UKPA) have announced that they are to merge in June.

This signals what many within the industry have suspected for some time – that the big proptech investors are now primarily chasing the commercial and build-to-rent property sectors, which the BPF represents, rather than sales and lettings.

And as visitors to the upcoming ‘CREtech’ proptech show in London in May, and previous events like it, will have clocked is that most of the exhibitors and visitors are talking about how tech can help run office blocks and other commercial property, not private homes.

Proptech

The planned proptech merger will bring together the BPF’s membership of some 400 property owners, investors, developers and advisors with the UKPA’s community of over 1,000 entrepreneurs, service providers, investors and proptech innovators.

Melanie Leech (main image, left), Chief Executive, British Property Federation, says: “The future health of the property sector and its ability to tackle fundamental challenges such as the decarbonisation of the built environment, will depend on its commitment to embracing new technologies and fully harnessing the power of data.

“We believe the integration of the UKPA within the BPF will create a powerful combined voice and new platform for knowledge-sharing and collaboration across the industry as we work to embed innovation and technology in all facets of property development and management.”

Sammy Pahal (main image,right), MD of UKPA, adds: “This merger presents a natural next step in the evolution of the UKPA as we strive to address key challenges within the industry including data, ESG, and enabling digital transformation.

“Our organisations share a common mission to drive growth and innovation and this as an opportunity to tackle these challenges together and create a more collaborative and innovative industry for all.”

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