With two years into the pandemic, the commercial real estate sector is gaining burgeoning demand as the world is getting back to normalcy. Additionally, with economy back on track, the commercial real estate is poised for a potentially disruptive transformation.
TIER II & III CITIES: UPCOMING HUBS FOR COMMERCIAL REALTY
With the urbanization culture seeping into the Tier II & III cities, introduction of Atmanirbhar Bharat and Startup initiatives and rapid infrastructure development, these cities have become the new employment hubs supported with hybrid working and reverse migration trends. Many corporates are leaving their long-terms leases and are partnering with coworking spaces.
MERGING BOUNDARIES BETWEEN COMMERCIAL SPACES
Since, people enjoy the comfort of having all amenities in one location like restaurants, gyms, shopping arenas, offices, etc, there is a rapid adoption of mix-use developments. The integration of co-working spaces with hotel spaces is quickly gaining momentum. Leading co-working spaces are partnering with hotels to cater to the discerning needs of today’s clients. Multi-services in a commercial space provides huge opportunities for real estate owners to generate more revenue.
AUTOMATION OF COMMERCIAL REAL ESTATE
As more people return to work in the next few months, developers & coworking operators are redesigning the space to accommodate touchless access, automated attendance,voice-controlled features to avoid maximum surface contact and ensure maximum safety of employees. New features like sensor-activated disinfectants, retina entry scanners, digitalized ventilator systems offer technology and healthcare. Therefore, the silver lining amidst these challenging times is that coworking players are emerging as winners in providing optimum support to large enterprises, startups and freelancers in enabling their businesses.
