"This evolutionary change is due to a series of sustainedtransition waves, which are driven by—and enabled by—a powerfulglobal revolution in information technology," he said in theeducation session titled "Seven Transition Waves Impacting the RealEstate Industry," adding that these waves are major forces that arenow, or will be soon impacting the development industry over thisdecade.
The transition waves he spoke of include demographic shifts,business consolidation pressures, capital market transformations,influence of emerging technologies, globalization, suburban/urbanconflicts and city revitalization strategies.
"As we progress, we have begun to recognize that 'bigger' is amarket reality—but that 'smaller' may well mean swifter and moreresourceful," he noted. "Strategic alliances will evolve betweenlarge corporate real estate companies, and smaller, moreresourceful and opportunistic enterprises."
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