To take full advantage of convergence in real estate will require creating an ecosystem within the built environment in which individual components—such as office, retail, and housing—are deeply connected with each other and help each other thrive.
We live in a world of increasingly blurred lines. As consumers desire more simplicity and efficiency, companies move up and down value chains taking on new product lines and services. Phones now double as cameras (and much more), booksellers are in the business of selling e-readers, retailers act like lenders, and ridesharing app companies have transformed the way we interact with automobiles.
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