Technology Innovations that Improve Construction Profitability
Many of the opportunities for our investors involve construction of new properties such as hotels and commercial developments. Construction project profits have been improved in recent years through remarkable technology achievements. Today, we’ll discuss some of the top trends in construction for this year that increase profit margins for construction investments.
3D printing. Compared with flat architectural designs, 3D models let developers visualize the entire project to innovate or discover issues before builders break ground, providing significant cost-saving opportunities prior to construction.
Green initiatives. Cost-saving innovations can also help the environment. sustainable products and techniques used in construction today include recycled materials as well as wind and solar energy.
Augmented reality and virtual reality. In the construction industry, AR and VR can be used for everything from worker safety training to stakeholder walk-throughs. They also augment the 3D models used in the planning process to obtain a true visual of all aspects of a construction project.
Autonomous equipment. Using drones at the construction site helps developers obtain real-time progress checks and site security. They can also do complex on-site measurements at a fraction of the time these used to be performed by onsite personnel, at a significant cost savings and with greater safety to the technician. At the same time, using robotics and automation for complicated or dangerous work improves worker safety and saves labor costs.
Data. With onsite sensors, there is almost no limit to the amount of valuable data collected on a construction site, and uses for this data seem similarly limitless. Leveraging real-time, onsite data allows developers to monitor sites, improve labor efficiency, identify potential safety violations and hazards, optimize scheduling, calculate and update budgets, anticipate problems and assist in problem-solving, and much more. New software is constantly under development to manage data and find new, creative uses that save developers time and money in their projects.
Today’s technology advancements make new-build projects and even greater opportunity for investors. To explore new opportunities for your investment portfolio, contact American Life, Incorporated today. Our investment professionals will help you choose the best opportunity for your portfolio, including investments in the EB-5 program for foreign investors in the US. Contact us online, call us at 206-381-1690, or visit US office at 2710 S. Hanford Street, Suite 100, in Seattle, Washington or any of our international offices in Shanghai, Tokyo, or London.