iShack Ventures announces partnership with MRI Software 

Integration will deliver enhanced capabilities that save time and money for real estate owners, managers and occupiers

26/042024

Johannesburg – iShack Ventures, a South African outfit with a strong track record in proptech, are pleased to announce an integration partnership with MRI Software, a global leader in real estate software solutions. The integration of iShack Venture’s Smart Building and iProp.Solutions digital platforms with MRI Property Central gives real estate owners, managers and occupiers in the South African market access to enhanced property management functionality and real-time processes.

Wayne Berger, Joint Chief Executive of iShack Ventures, says: “The integration of MRI Property Central with our Smart Building and iProp.Solutions platforms presents next-generation enhanced end-to-end property management capability. Our customers enjoy real-time information, market-leading AI capability, increased functionality, and better asset management in a digital twin environment. This collectively delivers enhanced value by saving time and money, while effectively connecting communities such as tenants and suppliers.”

Available through the MRI Partner Connect programme, the easy-to-use integrated solution offers end-to-end capability for all property types, including commercial (retail, office, industrial and logistics), residential and sectional title, and occupiers of space. The combined capabilities are well suited to property owners, managers, occupiers, and other users of any type of property or infrastructure.  

Sean Slack, VP of Partnerships at MRI, says: “We are excited to welcome iShack Ventures to the MRI Partner Connect programme, which will give MRI Property Central clients in the local real estate market access to the complementary functionality in the Smart Buildings platform.” 

iShack Venture’s platform brings complementary functionality to MRI Property Central, including facilities management, energy and ESG management, lease management, visitor management, procurement management and community management together with real-time portfolio and industry information. 

Peter Levett, Joint Chief Executive of iShack Ventures, says: “MRI has a longstanding and successful track record internationally and in South Africa. This is an important milestone for iShack, and we are excited to partner with MRI. Our focus has always been underpinned by delivering world-class solutions to our clients, and our current offering is bolstered by a strong partnership with MRI.” 

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About iShack Ventures

iShack Ventures is a South African company that has a strong track record in incubating and developing technology companies. It is focused on the property technology space developing two extensive platforms, namely Smart Building and iProp.Solutions. 

Smart Building is a next-generation asset and property management capability including digital twin and artificial intelligence (AI) capabilities providing real-time information and intelligence for real time communication and proactive management.

iProp.Solutions is a platform supporting all aspects of leasing, sales and auctions including CRM and lease management capabilities together with relevant industry information to support asset management solutions.

 For more information, please visit ishackventures.com, smartbuildingapp.com and iProp.Solutions. 

About MRI Software 

MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s open and connected, AI-first platform empowers owners, operators, agents and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than six million users worldwide, including social, affordable, public and community housing organisations. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realise their vision of building thriving communities and stronger businesses. For more information, please visit mrisoftware.com. 

Post-COVID, as more and more businesses have adopted technology solutions to enable and improve operations in hybrid working environments, cyber threats have been on the rise too. According to British telecommunications giant, BT, “More than 46 million signals of potential cyber-attacks are spotted by cyber security experts every day around the world.”1 A 2023 study conducted by IBM indicates that the global average cost of a single data breach was USD4.45 million, representing a 15% increase over three years.2

Given that real estate businesses deal with exactly the kind of data that hackers would like to get their hands on – bank account details, ID numbers and other personal information – the industry is an obvious target for cyber-attack. As more and more real estate businesses adopt PropTech solutions to reap operational and cost efficiency rewards like improved utilities and building management, smoother tenant engagement and more efficient leasing, keeping all that data secure is vital. So how do you make sure that your cybersecurity measures are keeping pace as you digitally transform your business?

The human factor

Most cyberattacks happen through human error. Customers falling for phishing schemes, employees failing to follow security best practices and other avoidable human errors are responsible for as much as 82% of data breaches, according to Verizon3. Though it’s seldom intentional, people are your business’ biggest weakness when it comes to securing data. Implementing regular cybersecurity training for your employees, and engaging with your tenants to help them avoid falling prey to scams, will go a long way to protecting your data.

Make cybersecurity part of risk management

Ensure that cybersecurity is on the agenda in your management meetings and included in your risk management efforts. Assessing and understanding your risks is the first step, followed by prioritising the risks that have the biggest potential to cause harm. From here it’s important to understand what your existing solutions include in terms of security, and where the gaps are, as well as to put a robust incident response in place should something go wrong.

Form the right partnership

Cybersecurity skills are rare. The cybersecurity workforce gap is estimated at around 3.4 million people worldwide4, meaning that hiring your own crackerjack team of cybersecurity ninjas is not an easy task. Partnering with a managed services provider is the most effective way to gain access to these rare skills and ensure your security environment is keeping up with the threat environment. The right partner can guide you on how to get the basics in place, and how to close the gaps you’ve identified in your current systems. They should also be able to help to automate day-to-day security hygiene measures, like monitoring and patching, as well as other routinised security tasks.

Real estate businesses must take advantage of PropTech solutions to ensure their profitability and sustainability going forward. Protecting your business against data breaches and maintaining client trust is paramount in a digitally enabled world, and so is proactively securing business data.

In our Asset Mag Technology column, we looked at a few Smart Technologies that are making an impact in the Real Estate and Property Industries. In our Smart Tech to Watch series, of which this article is the first, we’ll dig into these technologies individually to see how they are finding application, and what benefits they offer. 3D printing is our topic for this month. 

In 2015 – almost a decade ago now –  the Chinese construction company WinSun made headlines when they created the world’s first 3D printed apartment buildings in China. The 3D printing process allowed WinSun to create modular building components that could be quickly and easily assembled on site, which reduced not only construction time but labour costs as well. Because the 3D printed components were also lightweight and used less material than traditional construction methods, the project produced less waste and overall costs were reduced even further. The 3D printed apartment buildings were completed in just a few months, demonstrating the potential for 3D printing to significantly speed up the construction process.

Since then, there have been several 3D printed construction projects worth noting, including 3D printed bridges in Spain and The Netherlands, and houses and more by Branch Technology and ICON in the United States. South Africa has also seen its share of 3D printed construction projects.

The “New Jerusalem” project, initiated by the University of Johannesburg’s Fada Architecture Department uses 3D printing technology which is capable of printing concrete structures. The project aims to provide affordable housing to low-income families in South Africa, and has so far delivered two successful prototype houses, each consisting of 26 layers of 3D printed concrete walls. The houses were built in just three weeks, and the team estimates that they cost 30% less than traditionally constructed homes.

The “Mars House” project in 2021 saw a team of South African architects and engineers create a 3D printed house that is capable of withstanding the harsh conditions on Mars. The house, which was constructed using a 3D printing robot, is made entirely of recycled materials and can be built in just two weeks. The team believes that this technology could be used to build sustainable housing on Earth as well.

And the “Project Gateway” initiative, led by the Belgian-based 3D printing company Kamp C, aims to build the world’s first 3D printed eco-housing development in South Africa. The development will consist of five houses, each constructed using 3D printing technology and sustainable materials. The team hopes that this project will serve as a model for future sustainable housing developments around the world. The printer that will be used for the project is capable of producing walls up to 8 metres wide and 3 metres high.

As property developers and real estate companies continue to look for more cost effective ways to build, 3D printing should be considered. It opens up a new realm of opportunity, potential cost savings and constriction advantages. Some of the applications to consider are:

1. Building Components: One of the most common applications of 3D printing in construction is building components such as walls, roofs, and floors. Using 3D printing, these components can be made quickly and accurately, reducing construction time and waste.

1. Formwork: These temporary structures are used to support concrete during construction. 3D printing can be used to create formwork more quickly and precisely than traditional methods, which reduces labour costs and improves construction quality.

1. Customised Design: 3D printing allows for highly customised designs to be created quickly and easily, allowing for unique architectural elements to be added to a construction project.

1. Construction Equipment: 3D printing can even be used to create construction equipment and tools, reducing the time and cost of acquiring and transporting these items to the job site.

Locally, from the project examples we’ve shared, it seems clear that 3D printing is being explored to address our shortage of affordable housing for lower-income households. Because 3D printed houses can be completed exponentially faster than traditionally built ones, and produce less waste in the process, it seems a viable way to create safe homes for those that need it most. 

But let’s not discount the impact this technology can have on higher income housing markets, commercial rental housing businesses and even infrastructure – such as foot bridges. Developers looking to attract first-time buyers could keep their apartments more affordable with 3D printed building components, without compromising on quality. And those looking to attract buyers and tenants that value environmentally friendly living/ working environments could benefit greatly from the ability to use less construction material, implement recycled materials or simply save on the waste produced during the construction project to achieve higher Green Star ratings.

Since the Built Environment contributes 39% of gross annual carbon emissions globally, according to the World Economic Forum, perhaps it’s time to start taking 3D printing more seriously in the construction sector.