CoreNet Global showcases startup influence in realty sector
CoreNet Global, the world’s largest professional association for the Corporate Real Estate (CRE) industry, concluded its 5th annual India conference yesterday. Themed ‘India - Future Ready’ the conference highlighted India's potential in the CRE landscape in 2018. The conference brought together 300 top industry professionals and business leaders to discuss industry trends that are unfolding from private and public perspectives. CoreNet Global – India chapter Co-Chairs Ram Chandnani (Managing Director Advisory & Transaction Services India, CBRE) & Venu Kota- Head & Director Corporate Real Estate, (Visa Inc) oversaw an engaging conference that dealt with contemporary issues regarding digital disruption and the solutions being developed as a result of it. The conference also discussed the values of creating a blockchain ecosystem in corporate real estate space and delimiting CRE boundaries in the digital economy. During the event, participants at the conference discussed the current status of the job market in a VUCA world and its relation to the country’s economic growth. It was observed that India is showcasing a robust CRE demand due to its strong economy. This directed the discussion to explore the causal factors for this situation, including the use of technology to align organizations with customer needs, co-working and agile workplaces that utilize IoT effectively. The rise of a rapidly increasing millennial workforce was also discussed, with the visible shift towards the non-negotiability of employee well-being. The participants concluded that workspaces can no longer be viewed simply as physical spaces and must now take human connections and ‘body language’ into account to design improved workspaces. The event also addressed the role of startups in the disrupting the real estate space, with a specific focus on the investments that they have brought into the country and their ability now to provide technology-based solutions for all customer needs. This phenomenon has been prompted by the end-users becoming more discerning and thereby eliciting a greater need for creativity in physical space utilization. The conference concluded by addressing the role blockchain has and will come to play in developing a secure real estate ecosystem where data utilization can be maximized.
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