Simultaneously, it has disrupted industries, trade, and business cycles, thus halting global economic activity significantly. Indian real estate sector, which was already struggling to reemerge from the past turbulence of structural changes, policy reforms, and the liquidity crisis, is now set to witness another major fallout. In usual times, the ongoing period normally sees an uptick in real estate activities owing to festivals like Ugadi, Gudi Padwa, Akshaya Tritiya and Navaratri when new launches and sales spike up. Unfortunately, 2020 seems to be different. Country-wide lockdown until the first week of May has halted all activities. As evident, project sites are shut, site visits have stopped, and construction activity has come to a grinding halt, eventually impacting housing sales. Also, developers have deferred their new project launches for an unknown period. Commercial real estate has also not been immune to the Covid-19 fallout. Corporate occupiers are seen delaying their leasing decisions and still several MNCs and businesses are testing new waters of the work-from-home option. If proved successful, it could impact leasing activities in the future. Retail businesses, highly dependent on consumer spending, are also witnessing a momentary slowdown and reduced interest from global brands who may now consider revising their expansion plans.
INDIAN COMMERCIAL OFFICE SECTOR: COVID-19 TO BREAK GROWTH MOMENTUM
Denne historien er fra May 2020-utgaven av Commercial Design.
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Denne historien er fra May 2020-utgaven av Commercial Design.
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
WORKING TOGETHER
Professor Louise Valentine, Head of the Design School at Heriot-Watt University, on the importance of inclusive design in the workplace
WHERE CREATIVITY WORKS
Alhad Gore of Beyond Design Architects & Consultants brings his architectural expertise to life in the new office for Atul Patel Architects, blending functionality with creative flair to craft a workspace that inspires innovation and collaboration
FACILITATE INTELLIGENCE
How AI is redefining the future of facility management
DESIGNING A BETTER FUTURE
How inclusive office designs are shaping the modern workspace
ADDED VALUE
Is a good project manager the secret to success for a complex commercial design project?
RECOGNISING EXCELLENCE ACROSS THE SPECTRUM
The Grand Jury Meet of the third edition of Commercial Design Awards, a cornerstone event in India’s commercial design landscape, unfolded amidst the awe-inspiring expanse of the Welspun Global Carpet Plant in Hyderabad.
A VISION FOR 'TOTAL BUSINESS ECOSYSTEMS'
Jitu Virwani, Chairman and Managing Director of Embassy Group, redefines India's commercial real estate landscape by pioneering integrated, future-ready, and sustainable business ecosystems.
AWFIS TO DESIGN, MANAGE 165K SQ FT OFFICE SPACE FOR NSE IN MUMBAI
Awfis Space Solutions Limited on Tuesday said it will design and manage 1.65 lakh square feet of office space in Mumbai for the National Stock Exchange.
MACROTECH ACQUIRES 2.8 ACRES IN HINJEWADI
Realty developer Lodha, listed as Macrotech Developers, has acquired a 2.8acre plot of land in Pune's Hinjewadi area from Paranjape Schemes.
EMBASSY OFFICE PARKS REIT APPOINTS RITWIK BHATTACHARJEE AS INTERIM CEO
Embassy Office Parks REIT on Thursday appointed Ritwik Bhattacharjee as its interim Chief Executive Officer (CEO) with immediate effect, following Sebi’s order to suspend its CEO Arvind Maiya.
