FORDATA
Managing the Real Estate Data Deluge

Over the last two years, the shockwave called the COVID-19 pandemic had put the commercial real estate (CRE) market, including warehouse space, under unprecedented pressure. But with different regions of the world coming out of lockdowns, the CRE sector is witnessing a massive uptick in its operation, albeit in a slightly altered reality than the one before COVID-19. Today, there’s a considerable demand for build-to-suit (BTS) CRE construction projects as employees’ and residents’ health concern is at the top of every facility owner and manager’s mind. These BTS projects are also gaining momentum as office space owners seek more efficient ways of managing properties.

In such a market environment, developers must ensure that their projects are carried out quickly and optimally in terms of costs and logistics. Each delay is a loss for the investor. But when multiple projects are running simultaneously, CRE businesses need to control each task at every stage of the project realisation. Therefore, the circulation of project documentation between all involved parties, as well as its management, must be as efficient as possible to avoid information chaos. Fortunately, this is where virtual data rooms (VDRs) can help CRE businesses change the script of traditional due diligence workflow. VDRs allow superior data management and access control by digitalising and securing real estate data.

With that understanding, the company that is now proactively helping real estate businesses reap the benefit of cutting-edge VDRs is FORDATA.

“We help the real estate industry streamline and speed up the documentation and information flow between different stakeholders involved in the real estate project, be it auditors, financial institutions, or clients,” states Aleksandra Prusator, sales and marketing director at FORDATA.

Notably, FORDATA is a boutique VDR company that has cemented its position as the leading VDR provider in the Central and Eastern Europe (CEE) region since 2009. As such, FORDATA’s VDR system supports all the strategic processes in the CRE industry: capital raising, merger and acquisition, document exchange, negotiations with investors, and cooperation with legal advisors, notary offices, technical advisors, or auditors. “Whether it is a single property sale, portfolio sale, settlement sale, or daughter company/IES selling, our VDR speeds it up and helps reach more investors,” shares Aleksandra. Therefore, real estate businesses can easily cut down their time, costs, and resources while safely conducting strategic projects online with limited remote access to all sorts of data. Furthermore, real estate businesses can create an internal data repository with the VDR, which helps centralise and share all sorts of documents with auditable trails. This allows for the better establishment of an efficient communication channel with both internal and external accounting departments as well as regulatory bodies.

What’s more? “Our VDR supports a broader type of file formats beyond just the regular PDF files,” notes Aleksandra. Real estate businesses can use FORDATA VDR to share DWG and DXF files (usual formats for project maps and plans) with investors comfortably and with control over viewability and distribution. FORDATA VDR ensures that these files are shared and viewed with special protection that prevents print-screen, saving, printing, or further distributing a shared file. Besides, FORDATA VDR offers a fast, light, and reliable SPA (single page application) system with the newest UX trends in mind, making uploading heavy files (like 1GB) seem like a breeze.

And to maintain utmost data security, FORDATA complies with all the GDPR requirements, and at the same time, holds an ISO 27001 certification. Such certification serves as a testament to FORDATA’s ability to sustain product quality while also offering flexibility, speed, and client-centredness.

Moving forward, FORDATA is planning to enhance its technical capabilities even further. And as digitalisation projects become more commonplace across the real estate industry, the company is well-positioned to help more real estate companies not only in the CEE region but also around the globe. “We already have a very strong position in Poland, and we are penetrating further into the CEE region. This year, we are placing greater emphasis on our presence in the Baltics market, namely Lithuania, Latvia, Estonia, and the Scandinavian countries, starting with Sweden,” concludes Aleksandra.