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NAREDCO Realestate News

NAREDCO Realestate News

NAREDCO Realestate News

For the information of Real Estate Industry, Thursday 15, December 2022 [NAREDCO Realestate News]

Real Estate Roundup 2022 & Welcome 2023: Ushering into new age workplaces
Financial Express – Ashish Puri

2022 started with uncertainty and chaos. Most people were working remotely until the middle of the year. As summers progressed, the work trend started to shift from “Remote working” to “Hybrid”.
The transition to Hybrid work in itself is one of the most evolutionary emerging trends in the way the world works today.
Let’s look at what transpired throughout the year & why is “Hybrid” the future of work.
After being confined to the four walls of homes for over two years, there is a great deal of acknowledgment among employers as well as employees that physical office space is an essential part of any business environment.
While remote work has its advantages, as it offers flexibility, saves commute time & energy, and so on, one of the biggest shortfalls of Work From Home (WFH) is that it leads to isolation.
The disconnect among employees is one of the biggest challenges which organizations are experiencing, which then leads to a lack of sense of belongingness and further transpires into mass resignations.
Apart from pay cheques and growth opportunities, one of the biggest reasons people stay with organizations for longer durations is its “Culture”.
In the scenario where people are working remotely, it is tough to cascade the element of values & culture, down to every employee.
NAREDCO Realestate News
Startup Investment in Office Spaces: A good sign for commercial real estate
Financial Express – Sanjeev Sinha

India’s startup boom has significantly contributed to the commercial property market zones, leading to a dramatic rise in the absorption rates of office spaces.

Ascribed by entrepreneurship synchronicity and a healthy financial boost, the startup ecosystem has appropriated around 30% of gross office leasing activity in 2022, showing remarkable growth footprints for 2023, as per a report by JLL-India.
In the first half of 2022 alone, diverse startup portfolios acquired over 6.97 million sq ft of office space.
The pro-startup orientations taken up by the Government of India like the Startup Seed Fund, Startup India Initiative, and Aatmanirbhar Bharat App Innovation Challenge marked the outset of the halcyon period ahead for startups.

India is home to over 82,000 organizations and has been categorically affirmed as the third largest startup ecosystem, after the US and China.
Gauging the current statistics, startups are projected to be the largest consumers of office spaces in India.
NAREDCO Realestate News

The commercial real estate sector which has been off to a great start post the rollback of Covid-19 restrictions has majorly gained from the increasing demands of startup initiatives, especially those who are investing in mixed-use projects, IT/ITes, Shop-cum-Office spaces, and organic office space establishments.

Kochi leads value growth as a preferred investment destination for Gulf-based NRIs
Khaleej Times

The demand queries from investors and homebuyers in the GCC for Indian real estate are increasing exponentially across premium and luxury categories.
Indians living abroad have an unbreakable bond with their motherland and like to keep a return option to India for the future. The NRI demographic living in the GCC region has always seen Indian real estate as a safer investment option.
Set against the lilting cadence of the Arabian Sea and the famed backwaters, Kochi is a key economic hub for Kerala, flourishing in trade and tourism and offers realty investment options that have grown exponentially in the past couple of years, especially since the onset of the pandemic.
While historic landscapes are perfectly juxtaposed with modern business complexes, Kochi is a surreal confluence of two different worlds, with quaint museums standing alongside luxury villas. Additionally, a significant majority of NRIs working in Gulf countries, trace their lineage to and around Kochi and yearn to own a piece of home.
These reasons have led Kochi to emerge as the preferred investment location for Indians looking to move away from the hectic life in cities like Dubai, Abu Dhabi and Doha.
Property Consultant