CREM benchmarking based on ITOCC standardImplementing state of the art Corporate Real Estate Management (CREM)
Real estate owned, rented or managed by Financial Services Institutions normally requires considerable allocation of resources. In particular costs associated with staff assignment are substantial and frequently underestimated in practice. Against this background a comprehensive real estate strategy aligned with the general corporate strategy is of outstanding significance and should include the perspectives of real estate markets as well as the life cycle of each single property. State of the art CREM incorporates in particular the following elements:
- Understanding of real estate markets, building structures and user requirements
- Development of tailor-made real estate concepts
- Efficient corporate real estate portfolio and occupancy cost management
- Profitable arrangement of usage rights in target locations (e.g. sale & lease back)
- Constant identification of property which is no longer required for operations
- Realisation of maximal yields upon disposition/return of property
- Optimal utilisation of core properties with regard to quality and cost efficiency
- Optimisation of vertical integration and focus on core business
More and more Financial Services Institutions already have been realizing that significant synergies can be achieved by involving specialised external service providers for administration and operation of their real estate. Even though a few of them already make use of this option, there is still further potential, e.g., from bundling those services.
For more in depth information about CREM please visit our new specialized website www.crem-performance.com. It will soon also be available in english language.