The BSE Realty Index recently breached the 4,000 mark to record an 11-year high. However, it is significantly lower than its peak of 13,647 in Jan 2008. Then, the SENSEX had also breached the 20,000 mark to create a new record. It was at the period when the Indian economy was consistently growing at 9% and the depth and breadth of the market were rising.
India’s leading tech-led real estate services firm ANAROCK has launched ANACITY – a Smart Community Automation PropTech solution for managing gated communities, apartments and villas globally.
Savills India, an international real estate advisory firm, has recently launched its first online property festival ‘Savills Home Fest, Goa.’ Home Fest, Goa, a specially curated online event, showcases a bouquet of properties with exclusive offers and is supported by the on-ground Savills team that offers tailor-made solutions and a seamless buying experience.
The Indian real estate business – both commercial and residential – has been aggressively adopting technology to create better customer experiences for quite some time. With the COVID-19, the digital revolution has only accelerated. We’ve seen a few flashes of this digital change during the last 12 months.
To meet the growth in demand from enterprise customers, Hipla Technologies – striving to improve the experience of a billion+ people at their workplaces every day – has raised a pre-series A round of USD500,000. This capital injection will bolster and accelerate Hipla Technologies product distribution for their 360* Facility and EHS (Environment, Health, and Safety) management solution stack.
AsiaOne List of Top 50 Real Estate Brands and Leaders 2020-21 by Wealth has been created based on the valuation of top real estate brands and leaders. Even though there might have been inadvertent omissions, the list is the most authentic attempt to identify India’s top real estate leaders and to measure their holdings’ value. The Listing comprises Pan India findings and regional findings.
The gradual opening of cities boosted by the infection rates going down and the mass inoculation drives further gives hope to the office space market for the quick rebound post the second wave of COVID-19. With emerging trends shaping up and increased demand for office spaces, commercial real estate developers are batting for a quick revival in the coming quarters of 2021.
ANAROCK, India’s leading independent real estate services firm, has announced that it will make Upflex, a hybrid booking platform with the largest global network of flexible workspace, available to companies in India.
JLL recently launched an exclusive Pune city report titled “Real Estate in Post Pandemic Pune – Opportunities in the making” which highlights that the city attracted institutional investments of ~INR 9,600 crore during 2015-20. The report further states that office assets accounted for the highest share of 49% of the total institutional investments.
In what is being seen as a strategic move to continue expanding its North American business, global real estate advisory firm Savills has announced the acquisition of T3 Advisors (T3), which will rebrand as T3 Advisors, A Savills Company.
Select excepts from the interaction, RealtyBusinessReview.com, recently had with Tony Zorc, CEO & Founder of Accounting Seed, and author of the new book, Iconoclasm: A Survival Guide in the Post-Pandemic Economy.
Welspun One’s flagship Bhiwandi project was recently awarded as India’s 1st Platinum Pre-certified Green Logistics Park by the esteemed Indian Green Building Council (IGBC), a part of the Confederation of Indian Industries (CII). Welspun One Logistics Parks has ingrained ESG (Environment, Social & Governance) practices into its core values, to an extent that it is governing every business decision they undertake.
We have been in lockdown for more than a year and are eager to return to some in-person working that accommodates the preferences and priorities of individual employees so that our entire team is stronger. As a software company, we have been able to work effectively. We were able to launch our new Flexible Service Platform during the pandemic and we are rapidly growing in the U.S. because the demand for flexible office space is robust.
JLL has announced that, Rahul Arora, currently Managing Director, Bangalore will now head its Office Leasing Advisory business for India. This move underlines the Firm’s confidence in the strong prospects of India’s office market despite the headwinds from the COVID-19 pandemic.
Real estate investors and landlords are missing income opportunities and cost savings as their assets age in Asia Pacific, says JLL. Half of investment properties in prime locations in Asia Pacific are over 20 years old, leading the real estate firm to forecast that there is over USD 40 billion worth of unrealised value in aging and underperforming properties regionally.
IT-BPM sector has been the prime driver of the office demand in India over last decade. The employment in IT-BPM sector grew at rate of 6% CAGR over the last decade. The employment figure reached about 4.4 million in 2020 from about 3.0 million employment in 2011, which is an addition of 1 million skilled white-collar jobs.
India’s data center sector will require investment of $3.7 billion over the next three years in order to fulfill the 6 million sq. ft greenfield development opportunity for the industry, a JLL report titled ‘2020 India Data Center Market Update’ stated.
The Covid-19 crisis accelerated what was already a long-term decline in the need for brick-and-mortar retail space, but it also wrought havoc on the office space market, as companies emptied out cubicles and sent workers home to reduce the spread of the virus. With commercial real estate vacancies on the rise, landlords and tenants found themselves at odds about lease agreements, rent payments, insurance and other devil-in-the-details matters.
Selected excepts from the interaction, Romeet Kaul, Founder – Editor, RealtyBusinessReview.com, recently had with Lars Hyland, Chief Learning Officer, Totara Learning, on work, workplace, engagement, digital future and more.
Newmark, leader in commercial real estate services, has announced that Sridhar Potineni has joined the Company as Chief Information Officer. In his role, Mr. Potineni will be responsible for leading Newmark’s information technology platforms and driving digital transformation, further advancing Newmark’s platform of innovative solutions supporting its clients throughout the world.
Bengaluru based startup BricSpaces which was incubated as first prop-tech in country by Embassy backed WeWorkLabs, caters to end to end real estate streams with digital transactions which is first of its kind in prop-tech space having raised 350,000 $ in Pre-Seed round from angel investors.
Speaking on the Mindspace REIT results, Vinod Rohira, CEO, said that they have delivered the financial performance in line with their projections. Per him, the operating performance remained stable with collections continuing to be over 99% through the pandemic. He also added that Mindspace REIT has achieved a healthy gross leasing of 1.5 million sq. ft. during this quarter and diversified their tenant mix by signing up with a data center tenant.
Knight Frank, in its latest report Asia-Pacific Prime Office Rental Index Q1 2021 has cited that despite there being uncertainty around the performance of India’s office sector, Bengaluru, NCR and Mumbai markets are expected to remain stable in rental values over the next 12-months.
Embassy Group has joined pioneering proptech investor, Pi Labs, as a limited partner (LP) in its current Fund 3. The investment will support Embassy Group’s commitment to the transformation of the real estate sector through innovative technology, drawing on synergies from Pi Labs proptech ecosystem.
Smartworks, India’s leading managed office space provider, has announced that it has partnered with MediBuddy, India’s largest digital healthcare platform. This partnership will allow Smartworks’ members and employees to access online doctor consultation, health check-ups, COVID RT PCR test and medicine and help them make the best use of the vaccine drive.
With companies scrambling to create an ideal hybrid workplace solution, a team of former WeWork executives is introducing Daybase, a new approach to fill the gap between the office and home. The company is led by Steinhaus, formerly WeWork’s Head of Strategic Initiatives.
International businesses are looking to their workplaces to revitalise corporate brand and culture after the pandemic, which will see significantly improved amenities and services available for employees, according to the latest research from Knight Frank.
Embassy Office Parks REIT, India’s first listed REIT and the largest in Asia by area, reported results on 29th April 2021 for the fourth quarter and full year ended March 31, 2021. Among the key highlights, it distributes Rs 18,364 million and grows Net Operating Income YoY by 12%, leases 1.2 msf across 40+ deals, achieves 15% leasing spreads, and pursues growth through 5.7 msf new development, 19% pre-committed to global banking major.
Embassy REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced today it has subscribed to the WELL Portfolio™ program by the International WELL Building Institute™ (IWBI™) to create healthier office buildings and thriving business ecosystems in India. IWBI is the world’s leading organization championing a global movement to expand and accelerate a culture of health by advancing health and well-being in buildings, communities and organisations.
Institutional investment momentum continued during the first quarter of 2021, registering 21% growth in volume at USD 922 million, indicating the sustained investor interest in India’s real estate market. The remarkable resilience of the office market and confidence in its long-term growth led investors to chase quality assets available at the core and development stages.
Gagan Randev, who has vast experience in the real estate and financial sector, will spearhead India Sotheby’s International Realty’s efforts to be a force in the Real Estate Capital Markets business focusing on asset sales across different asset classes, land, funding, and cross border initiatives.
The leasing momentum in the upcoming quarters will mainly depend on the time taken to contain the second wave of COVID-19 cases. The increasing attendance in offices across the major markets before the second COVID-19 wave bears testimony to the confidence and commitment of corporates to get back to working from office. It is important that landlords continue to be receptive to the demands of tenants and offer flexible options, in terms of space as well as value.
The year 2021 started on a positive note for the real estate market with the residential and commercial real estate segment on a recovery path. While the residential market was recording a strong bounce back from Q4 2020, the office segment was also getting back on its feet. Offices started operations across cities, some at full occupancy while others on a rotational or hybrid model, giving employees the flexibility of workplace.
Real estate businesses need to re-imagine, adapt to survive in the next normal MUMBAI, India: Confederation of Indian […]
Also Wins the Award for ‘Best Innovative Green Real Estate Developer In India’ – Ranks Amongst the Top […]
PUNE, India: Panchshil Realty today announced that it’s CSR arm, Panchshil Foundation, has partnered with the Pune Municipal Corporation […]
BANGALORE, India: RMZ Corp, India’s leading privately owned real estate developer, manager and investor of real assets, today […]
Sai Life Sciences, one of India’s fastest growing Contract Development & Manufacturing Organizations (CDMOs), today announced the inauguration of its new Research and Technology (R&T) Centre in Hyderabad, India. Sri K T Rama Rao, Hon’ble Minister for Industry & Commerce and IT, Government of Telangana formally inaugurated the facility in the presence of other dignitaries.
Leading industry advisory firm – ISG (Information Services Group) – recognizes Persistent for growth in Global, Americas and Europe markets […]
To design and deploy future-ready, post-pandemic retail spaces in India Mumbai, India: ANAROCK Retail today announced a strategic partnership […]