Indian real estate sector has demonstrated remarkable resilience despite a global economic slowdown: Anshuman Magazine
India is a bright spot in shaky global real estate market : Sanjeev Dasgupta
New Delhi 28 September 2023
Real Estate sector undergoing transformation with Tier 2 cities becoming an emerging favorite said by Mr Anil Saraf, Chairman, CII NR Committee on Real Estate and CMD, ASF Group at CII Realty conference held today in Delhi. He mentioned that Digital Transformation in the Real Estate Sector has evolved as a necessity and is playing a vital role in the buying, selling, and renting. He added that Logistics Real Estate in the face of the rise stands at the center of a constantly changing system.
In his Address Mr Anshuman Magazine, Past Chairman, CII (Northern Region) and Chairman & CEO – India Southeast Asia, Middle east & Africa, CBRE said that the Indian real estate sector has demonstrated remarkable resilience despite a global economic slowdown. He mentioned that in line with most major economies globally, the rate hike cycle in India seems to have come to a halt, with the RBI maintaining the status quo in the past two reviews. He further added that as the economy gains momentum and the real estate sector thrives, there is a growing emphasis on ESG and its compliance. We anticipate accelerated demand in modern, tech-enabled, and green- compliant spaces in the upcoming quarter. Additionally, we also expect alternative segments such as GCC’s, data centres and flexible workspaces to play a pivotal role in bolstering real estate growth said by Mr Magazine.
In his remarks, Mr Sanjeev Dasgupta, Conference Chairman and CEO, CapitaLand Investment India & CEO, CapitaLand Trust India said that India is a bright spot in the shaky global real estate market. He also said that with China’s economic slowdown, which will ultimately help India given its recent quick growth and resilience in the face of the global financial crisis.
Mr Rohan Sikri, Senior partner, The Xander Group Inc. in his address said that regulatory institutions like RBI, SEBI is setting the tone for global and geopolitical for the Real Estate sector. He highlighted that the venture capital market is highly visible and Real estate industry sentiment remains optimistic.
Speaking at the Conference, Mr Ashwinder Singh, Co-Chairman, CII NR Committee on Real Estate and CEO- Residential , Bhartiya Urban said that with rapid urbanization, people increasingly moving to urban areas and cities, demand for homes and residential real estate will continue to rise. He opined that to remain ahead of the competition, it is necessary for real estate companies to explore new structuring options, improve operational efficiency. Real estate sector in India has robust demand, attractive opportunities, government policy support, and increasing investments said by Mr Singh.
The Conference aimed to provide a platform to discuss the various aspects and Industry lens for the future of real estate industry with a strong focus on overall trends and sustainability in the sector, CII- CBRE report on Indian Real Estate – Taking Giant Strides was released during the conference. The Conference saw speakers from Emaar India,Reliance METCity, Purvankara, DLF Ltd,RMZ Corp and others. The Conclave was attended by over 180 participants.