RealEstateCore and FIWARE Foundation Sign Partnership Agreement to Align Data Models Ontology for a Sustainable Urban Environment

Stockholm, Berlin, November 28, 2024 – RealEstateCore, an open-source data ontology designed for the real estate industry, and FIWARE Foundation, the non-profit organization that encourages the adoption of open standards using Open Source technologies for the development of smart solutions on a global basis, today announced a partnership agreement to align their respective data models and create a standardized framework that seamlessly integrates real estate into smart platform domains. This collaboration will enable smart buildings to act as active participants in smart platform ecosystems, contributing data on energy consumption, environmental conditions, and occupancy patterns to optimize various community services.

RealEstateCore provides a domain-specific ontology for structuring real estate data, covering aspects like building operations, asset management, and occupancy, while FIWARE’s open-source solutions foster interoperability across different systems. Together, this partnership will enable new capabilities for effective digitalization, facilitating data sharing and digital interaction across various sectors and platforms. By doing so, it will foster greater digital collaboration among stakeholders, enhance sustainability, and unlock new business opportunities.

Erik Wallin, Chairman of the RealEstateCore Consortium, commented: ”The alignment of the RealEstateCore and FIWARE ontologies is not just a technical milestone—it’s a critical enabler for businesses navigating the EU’s Corporate Sustainability Reporting Directive. By ensuring standardized, actionable data, we’re equipping companies with the tools to report accurately on sustainability metrics, optimize energy usage, and actively reduce their carbon footprint.”

Chandra Challagonda, CEO of FIWARE Foundation, added: ”The alignment of FIWARE and RealEstateCore ontologies is crucial for driving innovation across smart platforms by ensuring that buildings are not isolated entities but interconnected components of a broader ecosystem. This interoperability enables seamless data exchange, enhancing energy efficiency, sustainability, and service delivery across diverse domains. Without a unified approach to data exchange, buildings and infrastructures risk operating in silos, limiting the potential for holistic planning, resource optimization, and smarter services. Through our joint technological solution, we aim to address these challenges and unlock the full potential of interoperable ecosystems for smart cities and beyond.”

The alignment of the ontologies of both organizations will benefit stakeholders, including real estate developers, building operators, community planners, and technology providers. Key advantages include:

  • Improved Data Integration: With a standardized ontology, buildings can more effectively share data with smart systems, enabling better coordination between services and optimizing resource management, such as energy usage.
  • Enhanced Decision-Making: Community planners and real estate professionals will gain access to comprehensive data, supporting better decisions about building operations, energy consumption, and urban planning, leading to energy savings and reduced operational costs.
  • New Business Opportunities: The collaboration will drive the development of innovative business models, such as subscription-based building services or integrating buildings into broader smart platforms for energy trading and demand-response programs.
  • Sustainability and Resilience: This partnership will reduce the carbon footprint of urban environments and contribute to more sustainable, resilient cities by enabling better coordination between buildings and infrastructure.

This collaborative effort enhances digital capabilities for communities and facilitates the seamless sharing of data across multiple domains. By enabling compatibility between RealEstateCore and FIWARE, the potential for integrating digital solutions and building new partnerships is greatly expanded, accelerating the journey toward truly smart cities.

Press Contact:

Erik Wallin
Chairman of the RealEstateCore Consortium
Email: erik@idunrealestate.com

About RealEstateCore:

RealEstateCore is an open-source data ontology tailored for the real estate industry. It provides a standardized framework for modeling building data and enhances interoperability and smarter property management by connecting real estate assets with various infrastructures, facilitating seamless data exchange and urban collaboration.

By addressing key aspects such as building operations, energy efficiency, and occupancy, RealEstateCore drives the digital transformation of the built environment. It empowers stakeholders—developers, property managers, urban planners, and technology providers—to integrate real estate assets into smart city platforms and broader digital ecosystems.

Aligned to open standards such as Brick Schema and ASHRAE 223p, RealEstateCore fosters scalable, vendor-neutral solutions that promote energy-efficient, sustainable urban environments and enable innovative business models. Through collaboration with partners and contributors, RealEstateCore is shaping the future of real estate digitalization and unlocking the potential for smarter, data-driven urban solutions.

For further information, visit realestatecore.io and follow us on LinkedIn.

About FIWARE Foundation:

Together with its members and partners, FIWARE Foundation drives the definition and Open Source implementation of key open standards that enable the development of portable and interoperable smart solutions in a faster, easier, and more affordable way, thus avoiding vendor lock-in scenarios while also nurturing FIWARE as a sustainable and innovation-driven business ecosystem. Serving diverse domains, FIWARE is leading the world in Open Source technology for the digitalization of smart cities and regions. For further information, visit fiware.org and follow the organization on X, LinkedIn, and YouTube.