Promoting my activities in our geography (but can be extended everywhere) and after maturing some real experiences, I’m arrived to a rough but effective classifications about real estate players and their relationships with innovation and digital. In our industry we still have people thinking that a website is enough to be digital: this is the first group and they’re already underwater. The other two categories are those who say that proptech is important and those who actually believe it. The first one will be marginalized and uncompetitive in less than 5 years, the second one will thrive.
Innovation often calls innovation, so I’ve not been surprised when I’ve got replied with a “Your idea sounds interesting and I believe it is a fantastic approach“ to my introductory email.
I’m talking about Alexander Beulich, managing director of Domus Vivendi Group. DV Group is an established real estate developer with a large base and expertise in Baleares, 30 years of experience in two countries and more than a 1bln of GDV.
Looking at the portfolio of projects, other than stunning villas and condominium complex targeting premium clients, two projects caught my interest: The Circle, an innovative office concept and Mio, a large microliving building under development in Palma.
Alexander welcomed and toured me at The Circle, their next generation office scheme based in the industrial district of Son Bugadelles, in the outskirts of Santa Ponsa. The building is in the final stage of completion and already hosts the entire team of DV Group in the ground floor. The office is a multi-tenants space divided in two floors and a big rooftop, full of amazing design details and features (loved the standing desk!) and with an emphasis on common areas to socialize and share utilities. The asset is full of conference rooms (one suspended in the air!!), state-of-art technology and a food corner to serve all the customers.
Their creativity doesn't stop here: safe car parkings and innovative storage spaces complete the offer.
Honestly this idea is something new not only for Mallorca but for the entire Spain: an office format that matches the Post-Covid needs in terms of quality, sustainability, flexibility and working conditions.
The idea has born from the same necessities of DV Group to find an office space for their growing team and, not finding anything meeting their standard, they decided to embark in this project. The more interesting part for me is related to how and why they decided to create The Circle, a niche asset within their range of experience: they identified a latent request of some of their business partners and themselves of an environment where to cooperate, create synergies and foster relationships in the same vertical, the real estate sector.
The brand name The Circle reminds the idea of community and the tenants have been attracted by the possibilities to create an ecosystem within the real estate sector: this is the vision, this is in my opinion a winning way to create a real estate development. And it brings success: the offices are already all pre-leased before the finishing of the building! They have created a fully leased and rentable asset, a nice new HQ, brought environmental savings and efficiencies gathering many firms into a fully serviced office space. The tenants benefit of totally equipped space in terms of furniture and services and retain the possibility to scale their spacing needs: flexibility is key.
DV Group use the experience developed in Germany to foster new ideas and ways of working and living, driven by the vision (that we share 100%) that being a passive landlord is a risky proposition in a world where operational real estate will take a larger and dominant size of the market. Mallorca is not immune to those trends and to replicate old concepts will expose to thinner margins and competition risks.
Flexibility, digital, sustainability, community, efficency, design, customer centric and data are the concepts to be applied developing real estate projects: Alexander told me that they won’t stop here and they are pushing again scouting and developing new concepts.
Mio Palma is another project under development that is so dear to me in terms of philosophy, I guess that a detached argumentation will be needed in the next months.
Ah.. could you say now at what group DV Group belongs to? 😊