The Channel Islands have a significant opportunity to add value through digitalisation and data stewardship in the real estate sector, both domestically and internationally, according to speakers at PwC’ s recent Channel Islands Real Estate Conference.
Held in Jersey, the annual conference convened more than 250 industry leaders for an in-depth exploration of the trends and challenges facing the real estate sector, with local and visiting speakers offering actionable insights into sector specific deal flows, sustainable developments, planning priorities and funding strategies that support resilience in the Channel Islands and beyond as well as the increasing influence of AI and digital technologies in the industry.
In one session, Richard Ford (Partner, Pinsent Masons) joined PwC UK’s AI and Modelling Director, Will Leighton and Real Estate Tax Partner, Jo Cox, to explore how data driven insights are helping unlock new opportunities for value creation. They highlighted the opportunity for Guernsey and Jersey to develop their digital twins in order to advance their reputations as ‘smart islands’ and to inform policy and planning decisions that help boost growth across the retail, tourism and housing sectors.
In addition, pointing to Jersey’s reputation for high quality regulation and its success in developing the concept of the ‘data trust’, speakers highlighted the opportunity to support the wider international real estate market by providing innovative, secure and commercially viable vehicles for transferring high quality data and enabling its effective monetisation.
The keynote address was delivered by Tommy Etheridge, Senior Economist at PwC UK’s Strategy& who delved into the current macroeconomic and geopolitical forces shaping real estate today.
His insights were complemented by a Q&A session featuring PwC CI’s Lead Economist, Dr. Christie Viljoen, moderated by sustainability leader, Ali Cambray, ensuring a comprehensive understanding of key economic drivers.
Attendees then had the opportunity to explore the key trends in the real estate space, including the flight to prime property, the UK’s ongoing appeal as an investment destination and the Channel Islands’ reputation in supporting cross border investment flows – joining a dynamic discussion with panellists including Savill’s Head of World Research, Paul Tostevin.
The penultimate panel session, moderated by PwC CI Partner and Real Estate Leader, Ian Tait, saw Melinda Knatchbull, Chief Financial Officer of Earls Court Development Company, and Lindsay Wood, Chief Executive Officer of Andium Homes join PwC’s Real Estate Valuations & Advisory Leader, Tom Walker in exploring the concept of ‘placemaking’ when it comes to sustainable development, covering planning, funding, delivery and longterm resilience.
In conjunction with PwC’s ‘Emerging Trends in Real Estate: Europe report and other recent, highly relevant pan-island seminars hosted by the firm, the conference strengthened focus on sustainable market opportunities, reinforcing the Channel Islands’ reputation for excellence.
Speaking after the Conference, Ian Tait said: “The current sentiment for the real estate sector running throughout our conference this year is pragmatic realism. The industry has been tested in recent years, from trade volatility and geopolitical uncertainty to the effects of deglobalisation, and while those pressures persist, there are still clear areas of opportunity for the real estate sectors and markets we serve here in the Channel Islands.
“Jersey and Guernsey have long held a reputation for excellence in the real estate space, but we know that other centres are moving forward too, so we must maintain momentum, looking for ways to add value in innovative areas such as data stewardship. I’d like to thank our speakers and panellists, who once again brought a wide range of perspectives and expertise, contributing to a rich, engaging set of conversations this year.”
Pictured: One of the panel sessions featuring PwC CI sustainability leader Ali Cambray, PwC CI Lead Economist Dr. Christie Viljoen, and Tommy Etheridge, Senior Economist at PwC UK.
