While 2020 has been an unprecedented year globally, it has been able to create certain unique opportunities for the real estate sector that are likely to usher in a new era of innovation and digital transformation going forward. The COVID-19 pandemic has necessitated recalibration at a systemic and individual level. The real estate sector has not remained untouched from this recalibration but has shown remarkable resilience in the face of the pandemic. As we continue to learn to live in this COVID era, the year 2021 would require us to reimagine the way we have operated so far.
Below is a lowdown of how the real estate story unfolded in 2020 and its outlook in 2021:
OFFICE
The commercial real estate sector has made large strides in the past decade. Robust occupier interest, ascension of organized real estate developers and the emergence of institutional capital have accelerated this growth. While the COVID-19 pandemic has impacted the office sector, it could very well become the flag-bearer of recovery in the real estate sector. The quarterly growth in office space take was up by 14% from April 2020 to September 2020, with increase in absorption of space from 6.9 million sq. ft in Q2 2020 to 7.9 million sq. ft in Q3 2020. At an overarching level, the future of the workplace has been witnessing a lot of debate. Most of this debate has been centered around how office space would be used and designed, what role would tech play and what status would the workplace hold in terms of its physicality amid changing work patterns. The post-COVID-19 new normal has been characterised by the evolution of work patterns, which has altered the way both occupiers and developers have operated so far.
Denne historien er fra February 2021-utgaven av Architect and Interiors India.
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Denne historien er fra February 2021-utgaven av Architect and Interiors India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
THE RIGHT 'FIT'
Bathroom fittings elevate the bath experience and new-age innovative launches are making all the right noises in the space.
WOW WOOD
The durability, aesthetic appeal, and eco-friendliness of wooden flooring have made it a preferred flooring option. And, how!
BREAKING BOUNDARIES
Monkey Wrench's office design goes beyond traditional walls, embodying a spirit of endless possibilities and collaborative energy.
REIMAGINING READING
In the time and age when everyone is turning to digital, Studio Hinge breathes new life into the library at the Cricket Club of India in Mumbai.
A HARMONIOUS BLEND
DF Architects lend the 2Box House a mindful design that fosters interaction yet offers privacy while keeping one close to the roots.
THE SUBTLE CHARM OF SHIBUI
This home, designed by The Auburn Studio, embodies the Japanese aesthetic of 'shibui.'
CREATING WAVES IN SPORTS ARCHITECTURE
Through MOFA Studios, Manish Gulati is creating sports infrastructures that are both iconic and sustainable, setting the stage for India's athletic future.
Digitally designed
Futuristic yet soaked in a local flavour, this thin shell pavilion in China sets the design benchmark very high.
WELLNESS-INSPIRED BATH SPACES
In recent years, several new trends have emerged in the wellness bath industry, reflecting a broader focus on holistic well-being and personalised experiences.
THE FRENCH CONNECTION
A French cafe whose design is inspired by a croissant. That sounds just perfect! Doesn't it?
