Press Release: BuildingMinds, Microsoft, and RICS introduce the “International Building Performance & Data Initiative” for the real estate industry

  • Integrated international building performance and operations standard
  • “Lingua Franca” for the digital real estate industry
  • First release of an open standard before the end of this year

Berlin, February 27th, 2020. BuildingMinds, Microsoft and RICS have joined forces to introduce an “International Building Performance & Data Standard”, consisting of the “International Building Operations Standard” (IBOS) and the Common Data Model for Real Estate. The idea and concept of the new standard will be presented at the Digital Real Estate Summit on March 3, 2020 in Brugg-Windisch, Switzerland.

Achieving operational efficiency and maximizing building performance through international standards

Organisations expect more from their buildings in terms of experience, environmental and social impact as well as wellbeing, reputation, recruitment and retention. Cost is still at the core, however, complemented by further strategic drivers. In order to benchmark and manage building operations consistently, cost and experience KPIs have to be aligned. Consequently, more and more qualitative data are required in order. The RICS high-level data led global standard project provides international standards build on ICMS (International Construction Measurement Standards), IPMS (International Property Measurement Standards), ILMS (International Land Measurement Standards), IVS (International Valuation Standards) and IES (International Ethics Standards). It delivers a consistent approach for the management of all organizations and built assets and it enables benchmarking, improved performance and efficiency, productivity, wellbeing and value delivery.

Development of an industry-specific Common Data Model

The Common Data Model forms the basis of the BuildingMinds real estate management platform and serves as a universal data language for all real estate-related business processes. By integrating all relevant data it provides investors, owners, and process-stakeholders the exactly right information: from a holistic, birds-eye view of the portfolio to grassroots, granular building focus, effectively combining decarbonization strategies, people satisfaction targets and profitability KPI’s.

The Common Data Model considers both, national and international data-exchange standards.

Its concept is derived from Microsoft’s Open Data Initiative and already established in other industries. “The real estate industry needs to rethink how efficiency and innovation are achieved. The exchange of data beyond the company’s own boundaries and across industries is absolutely critical to success. Common Data Models have already been successfully introduced in other industries, e.g. in the healthcare sector and the automotive industry. These open data pools will not only enable the increase of building efficiency but also create new business models with innovative customer-focused products and services,” says Chris Tschumper, SME Lead at Microsoft Switzerland.

The first version of the Common Data Model for the real estate industry is to be made available as an open standard this year.

For the first time, it will make advanced technologies such as machine learning or artificial intelligence fully applicable in this field.

“The lack of standardization of data and information flows leads to numerous data silos in companies in the real estate industry. As a result, seamless processes, information-driven decisions and smart data applications are often simply not possible. The need of an open data standard that can be used by everyone is clear,” says Chief Product Officer at BuildingMinds. “With our joint initiative, we are bringing together what belongs together – data-driven insights and global industry standards.”

Integration of international industry standards and the Common Data Model

The integration of a Common Data Model with international building performance and operations standards right from the beginning results in unprecedented consistency and coherence of industry-related data, enabling

  • Benchmarking according to international standards
  • The integration of industry-specific KPIs from occupant satisfaction, to sustainability to finance KPIs
  • Machine learning and artificial intelligence for data-driven insights

“Enabling the real estate industry to better assess, more concretely evaluate and effectively improve their businesses is one of our core topics,” says Andrew Knight, International Data Standards Director at RICS. “As an internationally positioned professional association, we are very interested in integrating standards right from the beginning into an industry-specific Common Data Model that structures the digital sphere across companies and borders”.

Project management is handled by pom+ Consulting AG, a consulting firm specialized in the real estate sector. “This is one of the most important projects in the field of the digital transformation of the real estate industry.” says Peter Staub, CEO of pom+. “However, a project of this size and scope cannot be completed in two small working sessions. We have to work together in a structured and goal-oriented manner and integrate further partners to master such a mammoth task.”

“International Building Performance & Data Initiative”

The “International Building Performance & Data Initiative” will be represented by a core team, whose goal it is to continuously expand, improve and, above all, make the “International Building Operations Standard” accessible to all. The team consists of representatives of BuildingMinds, RICS, Microsoft, pom+, as well as other companies in the industry, which are leading industry digitalization. In the future, results will be shared, questions defined and strategies discussed at regular, open events. #ibpdi

About BuildingMinds

BuildingMinds is a Berlin-based PropTech company that democratizes data using a Common Data Model for the real estate industry. In doing so, the company is transforming the way building portfolios are managed around the world, laying the foundation for comprehensive, data-driven portfolio management to fully exploit for the first time the full potential of new technologies in the areas of artificial intelligence and machine learning for the real estate industry. BuildingMinds offers an integrated cloud platform with a digital building twin, closed-loop operations and data-driven insights. BuildingMinds is supported by two experienced partners, Schindler with extensive domain expertise and Microsoft with its powerful cloud technologies and solutions.

Press contact

Felix Georg Rösner

[email protected]

t +49 160 921 851 98

Communications / Marketing contact

Katharina Mack

[email protected]

+49 175 873 86 76

About RICS

Delivering confidence. We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure. Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

Press contact

Martina Rozok

[email protected]

t +49 170 23 55 988

Communications / Marketing contact

Christine Ciampa

[email protected]

t +49 69 65 00 75 17

About pom+

pom+ is a Swiss consulting company that provides services for real estate, infrastructure, companies and organizations in the fields of construction, facility, property, portfolio and asset management. Core competencies of pom+ include performance measurement, strategy development, resource optimization, technology deployment as well as digitalization strategies and digital solutions whereby life cycle assessment always plays a key role in all operations. More than 80 employees, most with degrees from universities and higher institutions, impress with specialist knowledge, in-depth experience and know-how from around 6,000 projects.

pom+ was founded as a spin-off of the ETH Zurich in 1996. While still headquartered in Zurich, the company today has offices in Basel, Bern, Lausanne, St. Gallen and Frankfurt and has been advising over 600 clients in Switzerland and abroad.

Media contact

Dr. Peter Staub, CEO

[email protected]

t +41 44 200 42 00