Commercial Realty Will See a Healthy Growth
Rajat Johar, Country Head, Skootr At the onset of the COVID 19 outbreak the real estate market witnessed a slight dip in the demand. However, the government and the central bank made timely interventions to minimize the impact of the pandemic through various policy reforms. Steps such as deregulation of large-scale industries and the push towards infrastructure was laid with an aim to help the economy emerge stronger from the pandemic. Despite the short-term challenges, Commercial Real Estate segment witnessed strong interest from sectors such as technology, consumer durables, BPOs, banking and financial services leading to a forward-looking annual growth in office absorption. The pandemic gave an opportunity to the real estate industry to rethink their offerings, products, and strategies. The office space operators also started to reengineer their models and to make their solutions lucrative for customers and more sustainable for their own businesses in the long run. Moreover, with gradual ease of restrictions and vaccine in sight, sectors such as office, retail, residential, Industrial & logistics have shown signs of green shoots. As for outlook for 2021, the industry will see a rise in demand and a healthy growth of existing and upcoming infrastructure.
Tags : Interviews Real Estate Skootr growth COVID-19 Commercial Realty Rajat Johar