Virtual learning threatens student accommodation investments –Report
The advent 6th Generation (6G) technology would disrupt student accommodation investments globally, a new Estate Intel report has stated.
The report titled “The next frontiers of growth in African real estate: ESG, 6G, and alternative asset classes” noted that the advent of 6G by the end of this decade would spur more schools to migrate from physical classrooms to virtual learning, which would have adverse impact on student accommodation investments.
It stated, “If we look at student accommodation in developed countries such as the United Kingdom, or the United States of America, we have seen great developments in the last 30 years. But today, the world is different and tomorrow would even be far more different. With the advent of 6G by the end of this decade, holograms will become a reality. And, therefore, teaching mode will be very different from the one we know today, where we will move from a physical mode to a virtual mode. This will have an impact on student accommodation.”
A real estate specialist, Kevin Teeroovengadum, in an interview with Estate Intel, said “We all know in key markets such as Nairobi, Lagos, Abidjan, Senegal, among others, there are growing numbers of students locally and regionally as these cities are hubs in their respective regions. But then, the question I have is what will be the future of student accommodation with education being done in the Metaverse.”
He claimed that environment, social and governance, 6G, and alternative asset classes were the next growth frontier for commercial real estate globally, adding that Africanising the ESG agenda was very essential.
Speaking on office spaces in the future, the specialist asserted that gone are the days when massive office spaces were needed, describing that this can be seen happening internationally, where remote work wiped US$450bn (the size of Nigeria’s GDP)off office real estate.
He added, “We in Africa should pre-empt so that we don’t create an oversupply of offices. Again, I will stress on the advent of 6G very soon, which will radically change the way we work.”