As more commercial real estate professional services firms are doubling down on proptech investments, Jones Lang LaSalle Incorporated (JLL), a leading property management firm, has launched a new AI, cloud-based commercial real estate project management platform.
The technology platform developed by JLL’s Project and Development Services and Clarizen project management software company provides data-driven insights and supports real-time collaboration for commercial real estate project management services worldwide.
Heralded as a game-changer to the “conventional approach to project management,” by Todd Burns, president of Project and Development Services at JLL Americas, the platform leverages numerous data sources, mail applications and virtual reality solutions that enable users to analyze and view sophisticated data visualizations on both desktop and mobile devices.
“As the technology platform evolves, our digital skills—and those of our clients—will evolve, too, building on the advanced skills we and our clients already have to stay relevant in a rapidly changing landscape,” said Burns. “And, our advanced technology platform will help us continue to attract the best digital talent that makes both JLL and our clients more profitable and efficient.”
The global platform operates in multiple languages and metric and imperial measurement modes. It allows sharing of documents that enable real-time project management and collaborations between client and vendor teams through a streamlined portal and specialized financial reporting and project visualization tools that automate routine tasks and reporting.
The company says chose to partner with Clarizen due to its highly secure and accessible infrastructure which includes vendor and client users around the world and because its capability to scale and grow as technology advances.
“As new features become available, we’ll continue to introduce advanced and innovative technologies that work for our clients’ teams around the world” added Burns.
Proptech investments drive profitability
It’s likely that investors will see the company making more investments in proptech. The company announced that it would invest nearly $100 million in venture capital funding within in the next several years through the JLL Spark Global Venture Fund, at its earnings call in August.
The company’s latest proptech application Blackbird, which enables clients to view 3D property renderings based on key real estate and demographic data has also secured a US pattern.
JLL’s smart approach to proptech investments may be one of the reasons for positive analyst forecasts that profits may ramp up by 60% next year, compared to the previous 5-year average growth rate of 1.9%.