Aurelia Luca, Skanska: Digital transformation has become a necessity for industry players in recent years and accelerated with the pandemic

In the upcoming “Industries to watch in 2024” feature of Business Review Magazine, Aurelia Luca, Skanska’s EVP for Hungary and Romania, offers a forward-looking perspective on the real estate sector’s evolution amidst the complex backdrop of 2024. Luca provides a nuanced exploration of the intertwining challenges and opportunities that lie ahead, especially in light of continuing geopolitical tensions, economic fluctuations, and the accelerating shift towards sustainability and digital innovation within the industry. Emphasizing Skanska’s deep commitment to environmental, social, and governance (ESG) principles, Luca outlines how the company’s strategic initiatives are not only aimed at significantly reducing carbon emissions but also at supporting the ESG objectives of their business partners, reinforcing the notion that sustainability is not just an ethical choice but a strategic necessity.

What are the main opportunities and challenges in the real estate sector in 2024?

For Skanska, sustainability is indeed an opportunity, as our initiatives are under the ESG umbrella and aim, on one hand, to make a tangible contribution to the company’s global target of reducing carbon emissions by 70% by 2030 and moving towards net-zero carbon emissions by 2045, and on the other hand, to contribute to achieving our business partners’ ESG goals as well. Interest in energy-efficient and environmentally friendly buildings is on the rise, and investments in technology for this purpose are proving to be a winning strategy. As for the challenges of 2024, I see the general state of uncertainty and the slow pace of economic growth among them.

To what extent does the real estate industry get impacted by digitization and the shift to a green economy?

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The future in real estate definitely belongs to digitization. Digital transformation has become a necessity for industry players in recent years and accelerated with the pandemic – from virtual tours and complex, interactive space marketing platforms to smart solutions for building operations, with a focus today on efficiency and optimal resource use. For us at Skanska, how we operate buildings and their impact on the environment is extremely important. That’s why we constantly measure, monitor, and optimize consumption and the parameters in which projects operate best.

We believe that a significant differentiator for us is the flexibility and efficiency in using data, as well as the better results we can achieve with it. Similarly, the data collected from past projects gives us the opportunity to analyze and improve both current and future projects, thus ensuring a continuous process of re-evaluation and development of services, acting as focused as possible in the ESG area.