In the webinar by home-grown flex workspace provider, Awfis, on the strategies that needs to be adopted by the CRE market to successfully navigate the second wave of the pandemic, experts said that traditional sources of capital – banks and NBFCs, will be constrained at least for the next 24-36 months
: The commercial real estate market will be expecting growth and getting ready for a post pandemic recovery with the roll out of vaccines in India, according to experts.
In the webinar by home-grown flex workspace provider, Awfis, on the strategies that needs to be adopted by the CRE market to successfully navigate the second wave of the pandemic, experts said that traditional sources of capital – banks and NBFCs, will be constrained at least for the next 24-36 months
From an investor’s perspective, they will think through before they deploy capital to consider the contingencies, they have faced in the past 12 months
“Last year, the pandemic changed the CRE sector in fundamental ways that no one predicted. With the pace of improvement driven by the availability and effectiveness of a vaccine in 2021, the long-term outlook for commercial real estate looks positive in many facets. With the CRE industry likely to recover in the coming months, 2021 foresees a strong partnership between occupiers and developers,” said Amit Ramani, CEO & Founder, Awfis and Vice President, Indian Workspace Association
Sanjay Dutt MD & CEO, Tata Realty and Tata Housing said that they have seen significant changes from an occupier’s point of view.
“Occupiers are exiting leases, which do not meet the new benchmarks of environment, health, safety and wellness (EHSW) standards and willing to pay premium and renew & consolidate where they do. Majority of occupiers have deliberated on the work from home vs work from office options and a lot of emphasis has been on building the right infrastructure to make sure one inculcates the culture of the organisation in the workplace for the people since they want them to come to the office. They are expected to repurpose the office,” said Dutt.
Experts believe that the latter half of 2021 brings with it a lot of new opportunities for the CRE market with respect to the strategies and planning that is required for the evolving nature of the industry
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/second-half-of-2021-to-bring-new-opportunities-for-the-commercial-real-estate-market-experts/articleshow/83108066.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
