2. Virtual/Augmented Reality in Real Estate

Background of Current Process & Challenge Statement

Virtual/Augmented Reality is becoming more and more prevalent especially in the current COVID pandemic. Real estate developers have seen the impacts of VR/AR and are exploring new use cases.

The multi-faceted use of VR/AR in real estate development can be used for construction design, as well as for the  visualization of estate property for clients. There are several companies in the market that are implementing VR/AR to view residential estate properties. However, there is still a need for commercial estate developers to employ these  technologies at a larger scale. High costs and time are the current main issues for VR/AR in commercial  estates.

Nevertheless, the successful usage of VR/AR technology in commercial properties will be highly advantageous for its construction and sales services.

Requirements

  • VR/AR in the visualization, design and lease/sales of real estate development to provide an enhanced, interactive viewing experience for construction design workers and potential property tenants.
  • Ability to render an accurate visual representation of the equipment and facility, including embedded pipes, etc. for tracing.
  • User friendly; can be operated by users themselves, e.g. by resident technical engineer.
  • Cost-effective; e.g. maintaining of 3D contents (including facility equipment like aircond, pumps, materials)
  • Can be used for training of technical / electrical equipment in the facilities.
  • To be agnostic to VR/AR hardware used
  • BIM compliant.
  • Integration with existing data systems to query data for viewing in real-time.
  • Accuracy; e.g. railing height of error range between 10 to 15cm, wall flatness of error range < 5mm, tiles joining of error range < 3mm.
  • Enable remote participants to view contents.

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