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PropTech: Revolution or Evolution? Eurobuild Awards Nominees Share Their Perspectives

This year, a new category has been introduced in the Eurobuild competition – PropTech Leader of The Year. And guess what? We’ve been nominated! We’re honored to stand alongside other outstanding companies that are transforming the commercial real estate industry for the better: Atlas Ward, Bright Spaces, DL Invest Group, FLIKO, PARKCASH, SINGU, and Zonifero.

While there can only be one winner (go, us! 🏆), we thought it would be valuable to hear each nominee’s perspective on PropTech and the innovative minds behind these solutions.

We invite you to explore the mini-interviews below and share your thoughts!

Bright Spaces: Catalin Dragutoiu, Director & Head of Growth EU

Zonifero: Jacek Ratajczak, CEO

REDD: Tom Ogrodzki, CEO & Founder

SINGU: Paweł Malon, CEO

FLIKO: Grzegorz Kuźlak, Co-Founder & CEO

PARKCASH: Piotr Nizio, CEO

 

Catalin Dragutoiu, Director & Head of Growth EU at Bright Spaces

PropTech: revolution or evolution?

PropTech is more evolution than revolution. The reason why we feel that it can be a revolution is because of the speed tech solutions appear, but that is how technology has always been, and now it is the turn for the real estate sector to adopt. PropTech is a natural progression of the real estate ecosystem integrating technology to increase efficiency & transparency as an ultimate goal to enhance the user experience. Traditionally, the real estate world adopted digital solutions really slowly, but now we see a shift in demand driven by the market, so in my view, PropTech is a key evolutionary step that pushes the industry to catch up with other sectors that already have embraced digital transformation.

How is PropTech changing the commercial real estate market?

In my opinion, PropTech challenges the status quo by bringing much-needed transparency, efficiency, and flexibility to the table. Years ago, nobody wanted to lease faster, as rents would have gone up as time passed. And always there was a scarcity of office space stock. Was it really? Today, all major stakeholders require data transparency, efficiency in leasing operations and flexibility in commercial terms. This demand for agility (to cover everything in one term) has emerged after the pandemic due to hybrid work, the energy crisis and so many other reasons. Bright Spaces 3D Twins allows stakeholders to explore assets remotely and make faster, more informed leasing decisions. This reduces time on market and streamlines the leasing process. The 3D Twins can be converted to divestment memorandums, allowing owners to sell properties faster. Platforms like REDD are helping investors and landlords make data-driven decisions by providing insights on property performance and market trends. These are just a few examples, the list can continue with other success stories.

Which technologies in which the industry is investing are an absolute must-have today?

Sustainability is top of everyone’s mind. Rising costs, ESG regulations, and solutions that optimise building performance and reduce carbon footprints are essential for staying competitive and attracting tenants. All this data that makes your asset performant is hard to digest in a hundred-page PDF. Nobody will look, or try to learn it, because everybody wants efficiency, data transparency, and speed in decision-making. Therefore, solutions that bring all this data together in a simple, easy-to-understand manner are absolute must-haves. Bright Spaces’ 3D Twins, help visualise complex building data and make it actionable, whether for leasing, asset management or divestment decisions. Additionally, data analytics consolidate and present real-time information on the portfolio or asset and provide insights for faster & smarter decision-making.

What has become the biggest challenge for the industry?

The biggest challenge for the PropTech industry is adoption. Or better yet, the speed of adoption. The real estate sector thinks in real estate time, which is far longer than tech start-up time. Although there is a clear upward trend in terms of the adoption of digital solutions, many stakeholders still take a lot of time to decide to implement. PropTech needs to overcome daily the barrier of ”nice-to-have” and become a norm. Convincing decision-makers to invest in new technologies when traditional methods have worked for so long remains a significant hurdle.

When will PropTech catch up with FinTech?

It is hard to estimate because the nature of the two is very different at its core. Financial services have long been reliant on technology for efficiency. The real estate sector is more conservative, and relies on physical assets and long-term investment cycles.

What will remain unchanged despite the popularization of tech in real estate?

Location, location, location. Real estate will always be about the location and the value of the property. Technology will help you increase the value, and optimise processes, but the core value of the property will always be in this order: location, physical structure and potential for long-term investment. Another constant will be forever: HUMANS. Technology helps HUMANS make better, faster, clearer decisions and enhances trust. There will be scenarios where human expertise and experience play a key role in decision-making, no matter how much data, insights or anything else you gather.

What do you wish for yourself and the industry in 2025?

I wish to see PropTech move beyond the innovators and become a mainstream solution across the sector. This will come only from speed of adoption, and usage from the real estate sector. I also wish for the real estate sector to have trust in PropTech’s. We are here to bring value. For myself: I hope to continue helping Bright Spaces grow and make a positive impact on the industry by providing real value through our 3D Twins technology.

Jacek Ratajczak, CEO Zonifero

PropTech: revolution or evolution?

PropTech represents an evolution with revolutionary potential. By integrating technologies such as artificial intelligence and the Internet of Things (IoT), the sector is transforming building management and enhancing user comfort. It is a thoughtful process that enables a better response to user needs and market demands.

How is PropTech changing the commercial real estate market?**

PropTech doesn’t change commercial real estate—tenant expectations do. PropTech simply enables the sector to keep pace with these expectations by delivering solutions that address market needs such as flexibility, efficiency, and user comfort. An example is Zonifero, which allows companies to manage spaces, book workstations, optimise resources, and promote hybrid working. These are tools that adapt properties to the new realities of work.

Which technologies in which the industry is investing are an absolute must-have today?

Energy optimisation technologies have become crucial, helping to reduce operational costs and support sustainability goals. Equally important are space management systems, such as desk and meeting room booking tools, which facilitate the hybrid work model. Investing in open APIs is also essential, as they enable the integration of various building systems, offering flexibility and improving space management.

What has become the biggest challenge for the industry?

Implementing technology in existing buildings requires not only significant investment but also creativity to effectively modernise older spaces. However, the biggest challenge remains attracting tenants in the new reality. For tenants, the key is encouraging people to return to offices—a goal that technology can help achieve by transforming offices into friendlier, more appealing, and hybrid work-compatible environments.

When will PropTech catch up with FinTech?

The evolution of PropTech is slower, but it bridges the digital and physical worlds. Its full maturity will have a greater impact on our daily lives than FinTech—shaping our health, well-being, sustainability, and efficient resource use. Additionally, a significant branch of PropTech deals with the financial aspects of real estate, making it inherently part of FinTech.

We see a strong analogy to banking, which, under pressure from regulators and customers after the 2008 crisis, had to modernise using technology. Real estate is undergoing a similar transformation after the disruptions of 2020, driven by ESG pressures and tenant demands. It is a vast, wealthy industry traditionally resistant to change, presenting immense potential for digital technologies to unlock. While PropTech is about 10-12 years behind FinTech, the process is clearly underway.

What will remain unchanged despite the popularization of tech in real estate?

The need to ensure human experience and comfort within spaces will remain unchanged. Technology can streamline building management, but the priority will always be for users to feel safe and comfortable. No matter how many technologies are implemented, spaces must continue to meet these fundamental human needs.

What do you wish for yourself and the industry in 2025?

I hope the concept of 15-minute cities becomes a reality. Achieving this vision requires paradigm shifts—not only in architecture but also in urban planning—but it would make for a better world. I also wish for the industry to continue advancing towards sustainability, efficiency, and user-centricity, enabling PropTech to benefit both people and the environment.

Tom Ogrodzki, CEO & Founder REDD

PropTech: revolution or evolution?

Definitely evolution. Commercial real estate is a concentrated market operating within limited risk. It’s more of a container ship than a speedboat. Changes here take time.

How is PropTech changing the commercial real estate market?

Lately, I’ve been reflecting that, despite what everyone says, there’s no such thing as ‘PropTech’. This term is just a buzzword—a label that views adaptation through the lens of technology. The right question should come from the market’s perspective: to what extent are industry problems being solved by technology today? The market adopts technology slowly, but the past few years have shown an acceleration. Climate pressure (‘build smarter’), combined with the pace of global changes, not to mention the AI revolution, means CRE leaders need tools for faster decision-making and more efficient work. And such solutions are increasingly sought after in the market.

Which technologies in which the industry is investing are an absolute must-have today?

On the economic front, definitely data and AI. Without these, efficient decision-making will be impossible. Financial institutions, insurers, and big tech are already leveraging computational power on a massive scale to shape their businesses. The economy is a system of interconnected vessels—real estate cannot lag behind in the long term.

What has become the biggest challenge for the industry?

Today, the industry has almost zero exposure to business opportunities derived from data and AI. For instance, in the era of hybrid work, the office market is in a state of limbo because no one knows the true vacancy rate—one that factors in the actual utilisation of space by tenants. And this is information that could, for example, be gleaned from data sitting in entry gate systems.

When will PropTech catch up with FinTech?

Finance will always adapt to technology more quickly because it is inherently a virtual business, where data is naturally digital. Real estate, by contrast, will always retain a physical element—brick and mortar.

What will remain unchanged despite the popularization of tech in real estate?

The business will continue to rely on relationships and people. What technology has changed, however, is the perception that it would dehumanise the industry by replacing people with algorithms. Today, the status quo has shifted: we see technology as an opportunity to work faster and better, with AI assistants stepping in to handle repetitive tasks that we don’t enjoy anyway.

What do you wish for yourself and the industry in 2025?

Lower interest rates, fewer vacancies, and at least one AI assistant for every employee in the CRE sector. 🙂

Paweł Malon, CEO Singu

PropTech: revolution or evolution?

100% evolution—we are the enabler of the next phase for the real estate industry, a phase that has already transformed many others: digitalisation.

How is PropTech changing the commercial real estate market? (The most interesting examples in your opinion)

It’s undoubtedly increasing the focus on data and data quality. We see this clearly in transactions, where buyers increasingly demand compliance with various norms and standards during the due diligence stage. They want to know if Planned Preventative Maintenance (PPM) is being carried out and to what extent, the condition of equipment in the building (Equipent Management), how often it is repaired or serviced, what warranties it holds, etc. Real energy usage and occupancy levels are also scrutinised. Collecting data about everything happening within a building is no longer optional but has become the standard.

Which technologies in which the industry is investing are an absolute must-have today?

Building Operations Software—I can’t imagine managing a building without digital tools for PPM (Planned Preventative Maintenance), property inspections, or asset management. Additionally, energy management systems and smart metering are absolute must-haves.

Which technologies in which the industry is investing are an absolute must-have today?

Access to skilled people who can implement changes and introduce new technologies. Change management and the lack of qualified staff to roll out technological solutions and train subsequent employees are significant challenges. At Singu, we frequently work with clients on these very issues.

When will PropTech catch up with FinTech?

Does it need to? We’re developing at our own pace—and I’d say I find buildings far more inspiring than banks…

What will remain unchanged despite the popularization of tech in real estate?

People will always remain at the heart of real estate—we’re here for people, not buildings.

What do you wish for yourself and the industry in 2025?

Even greater openness to innovation and change. And perhaps a little more understanding that ESG and sustainability are two entirely different concepts.

Grzegorz Kuźlak, Co-Founder & CEO FLIKO

PropTech: revolution or evolution?

In my opinion, it depends on the area of application. Revolution definitely applies to augmented reality (AR), as demonstrated by virtual tours that allow us to explore a property we wish to buy or rent for a holiday from the other side of the world, without needing to be physically present. Another revolutionary aspect is the Internet of Things (IoT), enabling remote monitoring and optimisation of energy and water consumption, management of air conditioning and temperature, checking the availability of parking spaces or other facilities, and much more.

When it comes to evolution, it pertains to the gradual implementation of Property Management Systems (PMS) aimed at automating and streamlining processes and daily tasks for property managers. Another aspect is the growing awareness among real estate market players, particularly property management companies, leasing operators, and developers. To build a competitive edge and enhance operational efficiency, digital processes are essential—this is what the market and end-users demand.

How is PropTech changing the commercial real estate market? (The most interesting examples in your opinion)

Technologies such as VR and AR allow prospective tenants to take virtual tours of properties even before they are constructed. A prime example is Matterport, an American company leading in spatial scanning technology, offering tools for creating realistic virtual tours—so-called ‘digital twins’.

VTS is one of the largest PropTech firms, providing platforms for managing commercial real estate. It enables owners and agents to manage leasing, marketing, and tenant communication efficiently.

The analysis of large data sets combined with artificial intelligence is also transforming the market. AI is already being used to analyse trends, tenant preferences, and personalise offers. It is set to revolutionise processes related to property valuation and building management.

Which technologies in which the industry is investing are an absolute must-have today?

Various Property Management Systems are foundational and should be standard, although for many companies in the residential market, they remain a novelty.

Mobile applications, CRM platforms, Building Management Systems (BMS), and IoT sensors for monitoring energy consumption, technical condition, and safety are essential.

End-to-end rental platforms are increasingly critical, allowing clients to reserve properties remotely, sign contracts, and manage rentals digitally. Today’s customers expect convenience and personalisation.

Sustainable and eco-friendly construction is also a growing trend—this includes using energy-efficient materials, implementing renewable energy systems, and adopting energy management solutions.

What has become the biggest challenge for the industry?

A significant increase in property maintenance costs (utilities, wages, materials) poses a dual challenge. On one hand, it creates a strong argument for adopting new technologies that directly reduce expenses. On the other hand, constrained budgets make it difficult in the short term to invest in technological solutions that can be capital-intensive. The real estate industry is often perceived as conservative, making the implementation of innovations more challenging and requiring greater investment in education and raising awareness among technology users.

When will PropTech catch up with FinTech?

Objectively, it seems this may take a long time. One reason is capital—investment in fintech technologies is substantially higher than in real estate, with the difference being several-fold. Additionally, fintech products are easier to scale—online payments or mobile banking can be implemented globally with minimal adjustments. In real estate, this requires integrating technology with physical infrastructure. Furthermore, legal regulations and the specificities of each market add complexity.

What will remain unchanged despite the popularization of tech in real estate?

The expectations and diverse needs of clients. Technology will help create positive user experiences but will not alter the fundamental diversity of client expectations that shape the market.

Location, quality, and price will remain the key factors influencing property purchases or rentals. Technology will certainly add value, but it will not play a decisive role.

Unfortunately, regulations and legal requirements. While technology can support certain processes, formal requirements are unlikely to change significantly as a result of the digitalisation of the real estate industry.

What do you wish for yourself and the industry in 2025?

As many implementations as possible, openness among technology providers for integration and collaboration, greater access to data, and substantial investments in developing skills and training for real estate industry professionals.

Piotr Nizio, CEO ParkCash

PropTech: revolution or evolution?

In some areas, it’s a revolution, particularly when it comes to the business models of PropTech companies (e.g., SaaS). However, from a broader perspective, it’s a natural evolution of thinking among industry professionals who need to adapt to new realities.

How is PropTech changing the commercial real estate market? (The most interesting examples in your opinion)

The digitisation of processes long considered unchangeable: digital and shared documentation, digital twins, mobile payments, digital guest announcements, and mobile access cards. For some, this is a revolution, but for us, it’s evolution—a development and optimisation of existing solutions in the market.

Which technologies in which the industry is investing are an absolute must-have today?

Given rising labour costs and the difficulty in finding employees, any solution that replaces repetitive, predictable, and simple tasks is essential.

What has become the biggest challenge for the industry?

For older properties, the challenge is matching the quality of services provided by modern buildings.

When will PropTech catch up with FinTech?

These are probably two distinct and difficult-to-compare areas. Perhaps the better question is when robust FinTech solutions will become an inseparable part of PropTech.

What will remain unchanged despite the popularization of tech in real estate?

The need for in-person interactions in the daily work of people in the real estate sector.

What do you wish for yourself and the industry in 2025?

Personal growth and satisfaction in everyday work within the real estate industry.