12th Edition of CII Realty & Infrastructure Conclave 2020 - Broader recovery expected in 2021: JLL
News Desk, News Nation 360 : JLL, the country’s leading real estate consultancy firm, in partnership with The Confederation of Indian Industry (CII held the 12th Edition of CII Realty & Infrastructure Conclave 2020. A virtual thought leadership forum attended by the country’s top real estate professionals this conclave has been one of India’s leading platforms for experts to discuss opportunities, share insights and predict the course for the industry for over a decade. As businesses open in a staggered manner, companies need to be prepared to face the short-term jolts and be ready to embrace the impending prospects of growth in the medium to long term. While globally, all stakeholders in the real estate industry are preparing themselves for long-term impacts of the pandemic, this is also an opportunity to reinvent. Real estate businesses will have to understand, comprehend, plan and implement innovative ways to stay ahead of the curve. Real estate as an asset class is here to stay, however, adaption is important to survive. Delivering the welcome speech for the conclave, Ramesh Nair, Chairman, CII Realty & Infrastructure Conclave and CEO & Country Head, India, JLL, said that these are dynamic times. They all agree that no sector has escaped the slowdown caused by the pandemic. The stakeholders of the real estate need to prepare for long-term impacts of the pandemic. But this is also a time to innovate and reimagine. Ongoing changes will only accelerate the pace of transformation that would have taken many years otherwise. It is time to reinvent spaces, rethink strategies, bring collaboration into workplaces and make them more human. The office is here to stay, but its format and functions may change significantly. With significant levels of capital available, investors continue to see real estate as a valuable asset class. This has brought many investors who took a ‘wait and see’ approach at the onset of the pandemic back into the market. The two-day event scheduled on 10th and 11th September 2020, will throw light on the reimagined chapter of growth in Indian real estate, fueled by renewed demand and fresh perspectives. Adoption of technology will be the key going ahead. Corporates globally are revaluating real estate strategy to make it more resilient to shocks. De-densification, splitting up of offices will gain momentum as more focus will be on collaborative technology. More corporates will adopt flexible working practices. The phenomenon of Work from Home (WFH), at best, a supplement to the traditional way of working from the office. There will be an increased focus on health, safety and wellness features and the importance of property management to expected to grow. Workplaces will undergo massive design modifications. There will be a combination of core and flex, long term and short term and urban and suburban. One thing is for sure, the future will be hybrid. Apart from creating a human experience, landlords and corporates will have to provide a sense of safety and security. There will be greater demand for better quality office buildings which have the best technology systems and sustainability features. The office is here to stay but the format will change.