Hear our experts’ take on the latest developments and trending topics
Smart Homes
Over the past few decades, technology has gradually developed and become more integrated into the built environment, influencing the way we live and work in our buildings. “Smart Home” is the term commonly used to define a residence that has installations such as lighting, air conditioning, audio, video and security systems that are capable of communicating with one another. These appliances can be controlled from any room in the home, as well as remotely from any location in the world via an internet connected mobile device or universal remote.
The vast majority of high-rise residential buildings within the UAE have Building Management Systems (BMS) which enable monitoring and control of the building’s mechanical and electrical installations, using a series of sensors and controls. These systems are largely installed to monitor the operation of the common assets within the building. However, within individual residential units of high-rise developments, there are very few smart systems installed to benefit the individual homeowner and positively influence their user experience.
The same can be said of the residential villa market in the Dubai. The upfront cost of buying a property in Dubai has typically been expensive, but lower priced units have started to enter the market this year. We are finding that achieving the reduced prices is creating a new challenge for developers in the market, balancing their costs against sales prices. The effect may be that the wider implementation of smart systems will take some time in this region, being viewed as a non-essential ‘luxury’ item. Alternatively, due to the high volume of upcoming units expected to enter the market in the next three years, there is a great deal of competition for developers who will look to differentiate their product from others. This need to differentiate, the rise in a more knowledgeable buyer profile and the dedication of the Dubai government to become a smarter and more sustainable Emirate, may influence developers to introduce smart homes to their portfolios.
Owners may also take it upon themselves to make their homes smarter as we see more and more retro-fit and plug-in devices become available. Ecobee, a home automation company, has introduced a thermostat which can control heating and cooling systems remotely, and claims that its device has managed to save the owners an average of 23% on heating and cooling costs. Lifestyle devices have also entered the market in recent years with products such as Google, Home and Amazon Echo. These devices present the other side of the potential for smart homes, one that provides users with the ability to control supported smart home appliances with voice command. The introduction of such devices will not only benefit owners through energy cost savings, but will also provide them with convenience, flexibility and overall an enhanced home experience.
The future of smart homes is intrinsically linked with our development of artificial intelligence (AI). As technological advancements in AI continue, along with the establishment of the Internet of Things (IoT), the potential for integration and communication of smart systems within our built environment increases exponentially. Integration and the ability for our building systems to communicate with one another has been one of the chief stumbling blocks in the wider implementation of smart systems. With AI and the IoT, however, we will start to see smart homes continuously collecting data to provide the user with optimal and efficient living conditions. The systems will learn to automatically react in a favourable way to scenarios they are presented with. For example, they will monitor the weather forecast and detect if a heatwave is on the way and adjust the temperature of the property.
Whilst advancements in smart homes are progressing, there is still a substantial requirement for developers to get on board with the latest advancements in technology and fully integrate smart homes into their projects. With Sheikh Mohammed Bin Rashid, and the Dubai government’s vision for Dubai to become the smartest city by 2021, it will come as no surprise if we begin to see developers and owners embracing these systems and integrating them into their homes in the near future.
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Julian Roche
MA (Oxon), MPhil, PhD
Chief Economist
Julian joined Cavendish Maxwell as Chief Economist in January 2019. Coming from an old real estate family in Ireland, his career as an economist began with a first-class honours degree in philosophy, politics and economics at the age of 19, following which Julian was an analyst with the UK Government. He later helped develop and launch the UK’s residential forecasting service with the firms that merged to become Global Insight. Julian subsequently developed derivatives in the City of London and established real estate futures contracts for what is now the International Commodity Exchange. He also ran a property development and management firm, before eventually serving as an international consultant and trainer to governments, central banks and notable firms including AXA, Citibank, DBS, Deloitte and Thomson Reuters.
Julian fills his work-free time with academic pursuits; he holds several postgraduate degrees, including a PhD in International Risk Management Policy, and also the Licensed Conveyancer qualification. Julian has published many business and academic texts and articles, and is also a keen walker – especially fond of the Scottish Highlands.
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Sarah-Jane Carter
BA (Hons) DipM
Head of Marketing
Sarah-Jane joined Cavendish Maxwell in January 2020 as Head of Marketing and is responsible for the development of the marketing strategy and execution across the Middle East region. An energetic and results driven marketer, Sarah-Jane possesses a wealth of multi-channel marketing experience, within both B2B and B2C environments which she has gained over a 25 year career. Prior to joining Cavendish Maxwell, Sarah-Jane held senior marketing positions for major developers in Dubai including Emaar, Dubai Properties and Dubai Sports City. She also worked for IWG as the Regional Marketing Director responsible for the MEA and APAC regions. Before relocating to the UAE in 2005, Sarah-Jane held various management roles in public and private sector companies in the UK including ten years at Royal Mail and seven years at the Bank of America.
Sarah-Jane is a member of the Chartered Institute of Marketing and has a BA(Hons) Degree in Business and Marketing
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Siddhi Sainani
Content and Communications Manager
Siddhi Sainani is a business and finance writer and a public relations professional with experience across markets in the UAE, Oman, India and the United States.
At Cavendish Maxwell, Siddhi is responsible for crafting research and marketing communications material for the firm’s various stakeholders including clients and government entities. She also leads the public relations activities for the firm, focusing on media outreach, reputation management and spokesperson profiling.
In her previous roles, Siddhi has reported on the financial markets for news outlets, developed institutional research for several institutions, and undertaken corporate communications initiatives for leading firms across sectors such as real estate, finance, banking, audit and advisory, and technology, among others.
Siddhi has a Bachelor of Mass Media degree with a specialisation in journalism and also holds a Post-Graduate Diploma in Integrated Communications covering advertising, marketing and public relations from Xavier Institute of Communications, Mumbai, India.
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