Robert Entin on technology investment
From PropTech Perspectives - Robert Entin, Executive VP & CIO, Vornado Realty Trust · · MIPIM World
“With any wave of tech investments obviously a lot doesn't stick so that's normal but the question in real estate is why are the numbers higher in terms of the failures and things that won't stick?”
On , Robert Entin, Chief Information Officer & Executive Vice President at VORNADO REALTY TRUST, spoke about technology investment during PropTech Perspectives - Robert Entin, Executive VP & CIO, Vornado Realty Trust on MIPIM World.
About Robert Entin
Robert Entin, Executive Vice President and Chief Information Officer at Vornado Realty Trust, discussed the company's technology strategy and the broader proptech landscape in a 2017 interview. He stated that Vornado has been an early adopter of technology, using it to improve business operations, building management, and tenant amenities. Entin noted that the company was upgrading security systems, including implementing facial recognition at turnstiles, and investing in building networks. Entin described the current wave of proptech investment as larger than previous cycles, citing $5 billion in capital deployed in the sector. He observed that owners and developers are now more focused on potential returns compared to earlier periods, when there were more skeptics. Entin also raised concerns about the high failure rate of proptech ventures and called for greater openness from established vendors, arguing that the industry should push for the democratization of data to reduce friction for startups and improve outcomes.