How and why has been the shift from retail to real estate advisory services?
Our family has been in the retail business since 1956 and we have a chain of stores across Delhi. I wanted to chart my own path, rather than depend on family business, something which my family has acknowledged and supported. I started off by forming EMAC Estate Managers and Consultants, a real estate company in 2009, providing assistance in luxury properties with some of the big brands like Unitech and Jaypee Group. I chose this sector because real estate is a legacy asset, and it has passed down from generations. Real estate is also one of the biggest contributors to the economy and we’ve tried to carve our niche for over 13 years now.
As an organization in managing real-estate portfolios what opportunities do you see in this space in the process of developing projects across verticals?
Ours is a very client-focused service. We look across verticals and investment horizons like short-term, mid-term or long-term holdings. We also look at the purpose of the property, whether it will be used for private, residential, or commercial use. We have many verticals to factor in when managing portfolios, and the future looks really promising indeed with our focus on Noida, the fastest growing region in Delhi NCR with Asia’s biggest international airport coming in the region in 2024.
The year 2022 has been the story of resilience and growth for the real-estate industry. How does the year 2023 look like to you in terms of leasing activity, vacancy levels, pent-up-demand in office space?
The residential segment has seen a lot of growth and prominence in the last two years, despite going through one of the worst pandemics in the history of mankind. People have been looking for bigger and better homes with an inclination to invest in real estate has been on the up seeing the turbulence of cryptocurrencies and the equity market. Now that offline workplaces are making a comeback, with major IT giants cracking down on the malpractice of moonlighting there has been a steady demand for office spaces with many Fortune 500 companies like Google, EnY, PWC, Accenture, Metlife, TCS, Infosys etc setting up campuses in Noida post the pandemic.
