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The British Property Federation, a membership group for property ownership and investment-related companies, is merging with the UK PropTech Association.
The two organisations expect to finalise the consolidation in June. It follows the UK PropTech Association holding discussions with its members, which includes a mixture of proptech investors, companies and professional service firms.
Melanie Leech, chief executive of the British Property Federation, said: “The future health of the property sector and its ability to tackle fundamental challenges such as the decarbonisation of the built environment, will depend on its commitment to embracing new technologies and fully harnessing the power of data.”
If the merger goes ahead it will see the UK PropTech Association become a division of the British Property Federation, with no expected changes to membership. Both firms will work on an innovation and tech adoption strategy for the property industry.
Sammy Pahal, managing director 0f the UK PropTech Association, said: “This merger presents a natural next step in the evolution of the UKPA as we strive to address key challenges within the industry including data, ESG, and enabling digital transformation.”
Members of the UK PropTech Association include blockchain-based proptech company Coadjute and investor Pi Labs.
“This merger is testimony to the UK’s readiness for faster technology adoption within the real estate sector,” said Ami Kotecha, chair of the UK PropTech association board.