Nomoko is on a mission to make the physical world accessible as a digital ecosystem using Digital Twins. With the focus on real estate, Nomoko launches its Spatial services offering in Luxembourg, creating virtual copies of individual buildings, larger districts, or even whole municipalities. This helps customers to visualise their projects and to gain informed insights in order to make the right decision at any time.
How far along are you in the development of Nomoko?
Digitisation has been a trendy word for over a decade, but real estate is still digitally invisible and intangible. Despite the proptech boom, with over 3,000 solutions in Europe alone, real estate isn’t yet maximizing the value of digitization as most of these tools don’t talk to each other. This is why we are building the Digital twin powered real estate platform. It allows real estate and urban development professionals to get a complete view of a building’s digital twin and its surroundings: finding properties with potential, analysing market data, visualising contextual 3D models and more.
With the approval of our SORA (Specific Operations Risk Assessment) application by the Direction de l’Aviation Civile (DAC) in 2022, Nomoko is conducting its inaugural EU-compliant drone capture service in Luxembourg, marking the start of its journey to expand our Digital Twin services into the whole of Europe.
Your mapping tools allow you to create 3D models, particularly used for urban development projects. Can you explain how this changes the approach and implementation of such projects?
Moving from abstract or two-dimensional information towards 3D environment models can solve current urban development challenges.
For municipalities, architects and real estate developers, they have numerous advantages:
- Integration of CAD models in realistic 3D environments;
- Checking and testing of urban development projects in 3D context;
- Building permits granted faster and building objections are reduced;
- Lower costs in an early planning phase;
- Long-term cost savings through reusability;
- Uniform standards for planning applications;
- Easier and more direct communication with the public.
Aerial 3D models give the necessary context for a faster and smoother project development, saving previous time for making confident decisions.
Your other strong point is the creation of digital twins. First of all, can you remind us what this consists of?
A Digital Twin is a digital replica of physical world features and processes that incorporates and aggregates any available associated data into it.
We can create a digital replica of anything, from a single building to an entire city and, eventually, the whole world. Digital Twins can deliver significant benefits for businesses across any industry.
At a glance:
- Digital Twins use real-time and historical data to represent the past and present and, from this data bank, simulate predicted futures.
- Digital Twins deliver unparalleled insight that accelerates holistic understanding, optimizes data-led decision making and streamlines processes.
- Digital Twins can be built on data tailored to use cases to deliver targeted outcomes and effective action.
The Digital Twin grows with each stage of the real estate chain, incorporating new data to eventually build a complete view of the building over its entire lifecycle.
How do digital twins affect investment decisions?
Digital Twins simplify access to information for any given asset. All the data is aggregated in one place and easily searchable. Professionals can identify properties or sites that have the potential to generate profit within predefined boundaries (price, location; etc) within a few clicks.
ESG criteria are one of the strong trends in the real estate sector. How do you perceive this and how do you see the environmental and societal development of the real estate industry?
Real estate is responsible for around 40% of global carbon dioxide emissions. There is a need to simplify access to energy analysis and technical due diligence reports to make more responsible real estate decisions. This is why we are working on offering portfolio screening and loan origination tools for portfolio-wide analysis to determine the energy footprint of the buildings, identify the properties that have retrofit potential to reduce energy consumption, and help with compliance assessment to accredited energy efficiency certifications. This can be made possible only by aggregating the data from different sources and providers in one place, the Nomoko platform.
