CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, was recently awarded WELL Certification at the Gold level for its office in Mumbai, by the International WELL Building Institute™ (IWBI™). CBRE Mumbai office registered under WELL V2 rating system accommodates over 260 employees.
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.
ISS Facility Services India, a leading global provider of workplace experience and facility management services, has today announced the launch of Germagic™ Thyme – a world-class technology producing germicidal coatings for protection against viruses (including COVID-19), bacteria, and fungi, in India.
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.
Panchshil Realty, one of India’s leading luxury real estate developers has announced that it has logged one of its strongest years on record in the sales of its high-end residential portfolio of homes in Pune.
JLL, India’s largest real estate consultancy firm, has been felicitated with Frost & Sullivan’s Best Practices Customer Value Leadership Award 2021 in the facilities management industry. JLL is recognised for achievements in adopting innovative strategies, engaging in strategic product development, and demonstrating client centricity and strong people practices.
The biggest problem for real estate development in Mumbai is land scarcity. Redevelopment projects are often the only option for developers keen to have projects in the more valuable city centre areas, writes Anuj Puri
Diversified professional services and investment management company Colliers, has released the report, Revolutionized Sector- Emerging Economies & Markets, according to which, having digital technology at the core of everything can make a business more resilient, and faster to adapt to any headwinds.
COVID-19 seriously disrupted the Indian office sector in 2020. The total sector-specific office leasing activity in the three dominant IT hubs Bengaluru, Hyderabad and Pune declined by approx. 55% against the preceding year – from 62.35 mn sq. ft. in 2019 to 27.80 mn sq. ft. in 2020. However, these three cities are witnessing a significant rise in leasing activity by the non-IT/ITeS sectors like the BFSI segment.
Colliers notes that the first half of 2021 has already recorded a 33% increase in the investment in emerging asset classes compared to the first half of previous year, led by data centres, as per its latest report, Unveiling the Potential of Emerging Real Assets, published in partnership with industry body FICCI.
Yondr Group, a global leader, developer, owner operator and service provider of hyperscale data centers, has announced it has formed a strategic joint venture partnership with Everstone Group
Leading diversified professional services and investment management company Colliers has announced the appointment of Ramesh Nair as the Chief Executive Officer (CEO) for India and Managing Director, Market Development for Asia, effective immediately.
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.
Easiloan Techno Solutions, a new age fintech start-up has launched “Easiloan Instant Match” application, housing finance industry’s first Artificial Intelligence (AI) technology-based selection and recommendation engine for home buyers. With this launch, Easiloan.com aims to address the inefficiencies in the home loan ecosystem by leveraging technology to streamline the loan processes across buyer, developer/seller and lenders.
The pandemic has significantly altered previously dominant trends in the Indian residential market. Notably, it has dented the overall new affordable housing supply share across the top 7 cities. Latest ANAROCK research indicates that out of the total new launches of approx. 36,260 units across the top 7 cities in Q2 2021, the affordable segment (priced <INR 40 lakh) contributed a mere 20% share.
Considering the millennial’s requirements are essential for real estate companies across India to give the construction industry a new trend. Companies like Mana Projects have already started the trend and are already focusing on futuristic homes. Undoubtedly, millennials will be the most significant demographic category active in property transactions in the coming years.
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.
Barco ClickShare, global leader in visualisation and collaboration solutions, has revealed the results from its annual research on meeting trends and engagement. The report marks five trends in work and meeting on the verge of returning to the office post-Covid.
Leading diversified professional services and investment management company Colliers today released the Growth engines of innovation: How Asia Pacific’s technology hubs are reshaping regional real estate report, an in-depth analysis of how the growth of the APAC technology sector is transforming the region’s property markets.
JLL, India’s largest real estate consultancy firm, has announced that it has been placed amongst India’s top 100 Best Companies To Work in 2021 in the annual ranking of India’s Best Companies to Work For. The survey was conducted by the Great Place to Work® Institute.
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.
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.
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.
British Safety Council, one of the world’s most trusted leaders in health, safety, and environmental management is offering free E-learning courses to help people cope with mental health issues arising from working from home during the pandemic. The online courses focus on mental health and safety and are targeted to home workers.
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.
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.
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.