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<keyword id="24068881" type="General" weightage="100" keywordseo="Equity-investments-in-Indian-real-estate" source="keywords">Equity investments in Indian real estate</keyword> may rise 49% to $11 billion this calendar year amid strong demand for properties, according to CII and CBRE. In the 2023 calendar year, the equity investments in real estate stood at $7.4 billion. Industry body CII and real estate consultant CBRE on Wednesday released a joint report titled 'Leading the Charge: Crafting the Skylines of Tomorrow' at the annual CII Realty 2024 conclave. Equity capital inflows touched $8.9 billion between January and September, registering a 46% year-on-year growth. "Overall equity investments in 2024 in the real estate sector are set to hit a new record surpassing $10 billion for the first time," the report said. With a resurgence in investment inflows in built-up office assets and a strong acquisition pipeline for land in the residential sector, the overall equity investments in 2024 would be in the $10-11 billion range. During January-September, institutional and collective vehicle investors accounted for nearly 40% of the overall investments. Developer companies led the total capital inflows with more than 41% share in this period. Domestic investors (predominantly developers) invested nearly USD 6 billion during the first nine months of the calendar year, dominating the overall capital inflows with an almost 65% share. In comparison, foreign investors contributed about $3.1 billion during the same timeframe. Notably, North American and Singaporean investors were the significant contributors, representing about 85% of all foreign capital inflows. Anshuman Magazine, Chairman &amp; CEO, India, South-East Asia, Middle East &amp; Africa, CBRE, said, "Projection for 2024 equity investments between $10-11 billion, highest-ever, underscores continued investor interest in the growing <keyword id="23870227" type="General" weightage="20" keywordseo="real-estate-market-in-India" source="keywords">real estate market in India</keyword>." With SEBI's SM-REIT framework, he said, smaller but high-quality assets in Tier-II markets would also present new avenues for strategic capital deployment. "We believe this regulatory support will add much-needed transparency, enabling a more diversified investment base and encouraging institutional participation across these markets," Magazine said. Going ahead, he said this growing diversification will not only solidify India's real estate sector but also pave the way for future growth across emerging asset classes.

Equity investments in Indian real estate may rise 49% to record $11 billion this year, says CII-CBRE report

Domestic firms will <keyword id="6356112" type="General" weightage="100" keywordseo="lease" source="Orion">lease</keyword> an estimated 60-65 million square feet of <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> between 2024 and 2025, according to <keyword id="20060150" type="General" weightage="20" keywordseo="cbre" source="keywords">CBRE</keyword> South Asia's report, '<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> Inc's Ascension - The Rise of Domestic Firms as an Office Demand Driver'. Domestic companies have been responsible for nearly 47 per cent of office leasing activity from 2022 to H1 2024, marking a departure from the traditional dominance of global corporations, particularly American firms. During 2022-2023, domestic firms experienced a 60 per cent surge in office space absorption compared to the pre-pandemic period of 2018-2019. Key occupier groups have secured significant spaces in prime locations across major cities, with <keyword id="19913115" type="General" weightage="20" keywordseo="delhi-ncr" source="keywords">Delhi-NCR</keyword> leading, followed by <keyword id="6354321" type="General" weightage="20" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> and Mumbai. E-commerce and life sciences companies have driven occupancy in Bengaluru and Hyderabad, respectively, while Mumbai has captured a substantial 43 per cent share of domestic <keyword id="19910880" type="General" weightage="20" keywordseo="bfsi" source="keywords">BFSI</keyword> leasing, with strong contributions from Delhi-NCR and Chennai. The report attributes the robust growth of India's office market to several factors, including government initiatives like Make in India and the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">Production Linked Incentive</keyword> (PLI) Scheme. These programs, along with increased domestic manufacturing, employment generation, and a well-capitalized banking sector, have created a supportive environment for business expansion. Other contributing factors include low corporate leverage ratios and improved access to capital, which have enhanced the investment capacity of Indian companies. India's talent pool, with approximately 2.5 million STEM graduates and a thriving start-up ecosystem featuring over 100 unicorns, has also been a major driver of growth. With over 38 sector skill councils, the government's focus on bridging the skill gap is preparing domestic firms for future demands, further bolstering the office leasing sector. Flexible space operators, technology, and BFSI sectors have emerged as the primary drivers of office leasing, collectively accounting for two-thirds of all domestic activity. The RCA sector, which includes legal, taxation, HR, and media services, is also playing a significant role in boosting domestic leasing. Additionally, Indian engineering and manufacturing firms, which currently represent 7-8 per cent of domestic office leasing, are expected to expand into <keyword id="20270212" type="General" weightage="20" keywordseo="tier-ii" source="keywords">Tier-II</keyword> and Tier-III cities, which are emerging as manufacturing hubs. Anshuman Magazine, Chairman and CEO, India, Southeast Asia, Middle East &amp; Africa, CBRE, said, "India's rapidly expanding start-up ecosystem and talent abundance are major drivers of this demand. As India's major urban centers continue to grow and diversify, the demand for premium office spaces will shape the future of the commercial real estate market, setting new standards for innovation and excellence. He added, "India's top nine cities are poised to see an impressive addition of ~185 million sq. ft. of premium office space by 2026. This dramatic increase in office space is a testament to several key factors driving the transformation of the commercial real estate landscape". Ram Chandnani, Managing Director, Advisory and Transaction Services, CBRE India, said, "Advances in technology, especially artificial intelligence (AI), are poised to further transform the office sector. While AI may cause job displacement in some areas, it will also create new opportunities and necessitate comprehensive workforce reskilling. The surge in workforce needs, driven by digitalization, evolving workplace strategies, and enhanced business confidence, has substantially boosted leasing activity."

Domestic firms to lease 60-65 million sq ft office space by 2025: CBRE report

The <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> presented by <keyword id="20426375" type="General" weightage="20" keywordseo="Union-Finance-Minister-Nirmala-Sitharaman" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Finance Minister Nirmala Sitharaman" meta.hostid="83" meta.entityid="Union Finance Minister Nirmala Sitharaman">Union Finance Minister Nirmala Sitharaman</keyword> has projected a <keyword id="19997196" type="General" weightage="20" keywordseo="growth-rate" source="keywords">growth rate</keyword> of 6.5 per cent and 7 per cent further solidifying <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s strong <keyword id="20018805" type="General" weightage="20" keywordseo="macroeconomic-fundamentals" source="keywords">macroeconomic fundamentals</keyword>, <keyword id="20060150" type="General" weightage="20" keywordseo="CBRE" source="keywords" meta.keywordsubtype="org" meta.entityname="CBRE" meta.hostid="83" meta.entityid="CBRE">CBRE</keyword> Chairman and CEO-India, South-East Asia, Middle East and Africa, <keyword id="20177586" type="General" weightage="20" keywordseo="Anshuman-Magazine" source="keywords" meta.keywordsubtype="org" meta.entityname="Anshuman Magazine" meta.hostid="83" meta.entityid="Anshuman Magazine">Anshuman Magazine</keyword> said on Monday. The country's economic performance in FY'24 surpassed expectations, registering a robust growth rate of 8.2 per cent. "This momentum is noteworthy considering three out of the past four quarters exceeded the 8 per cent growth mark," he said in his reaction to the Economic Survey. <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">Inflation</keyword> is anticipated to moderate around 4.5 per cent and it reflects a 'well-balanced' economic environment, he said. "The survey acknowledges the <keyword id="20152263" type="General" weightage="20" keywordseo="real-estate-sector" source="keywords">real estate sector</keyword>, particularly the residential segment, as a significant driver of <keyword id="20018651" type="General" weightage="20" keywordseo="private-investment" source="keywords">private investment</keyword>. The survey emphasizes the importance of continued collaboration between central and state governments, along with the private sector, to sustain this momentum," Magazine said in a statement. India's post-pandemic recovery has been orderly and expansive and it is testament to the underlying resilience of the economy, he said. "Looking ahead to FY'25, several indicators such as robust private consumption, increased bank lending activity and improved corporate capital expenditure indicate towards a good year ahead," he added.

Economic Survey pegs growth at 6.5-7%; solidifying India's strong macroeconomic fundamentals: CBRE

Demand for industrial and <keyword id="108235" type="General" weightage="20" keywordseo="logistics" source="Orion">logistics</keyword> spaces hit an all-time high across eight major cities last year with <keyword id="117877" type="General" weightage="20" keywordseo="leasing" source="Orion">leasing</keyword> activity rising annually by 8 per cent, according to <keyword id="20060150" type="General" weightage="20" keywordseo="cbre" source="keywords">CBRE</keyword>. In its latest report, <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> consultant CBRE said that the leasing of industrial and logistics spaces rose to 38.8 million square feet in 2023 from 36 million square feet in the previous year driven mainly by demand from third-party logistics (3PL) companies. Anshuman Magazine, Chairman &amp; CEO, India, Southeast Asia, Middle East &amp; Africa, CBRE, said, "As we envision the future of the industrial and logistics sector, this robust growth is a testament to the sector's resilience despite global economic challenges." Leasing activities across the top eight cities remained robust in 2023, showing a steady annual space occupancy, he said. "The leasing landscape in 2023 reflects a pronounced influence of 3PL players, commanding a substantial 45% share," Magazine said. The consultant noted that diverse industries, including <keyword id="35621" type="General" weightage="20" keywordseo="e-commerce" source="Orion">e-commerce</keyword>, <keyword id="6354851" type="General" weightage="20" keywordseo="retail" source="Orion">retail</keyword>, and <keyword id="6362048" type="General" weightage="20" keywordseo="manufacturing" source="Orion">manufacturing</keyword>, chose to outsource their supply chain operations to 3PL firms. This strategic move was aimed at meeting storage requirements, attaining increased flexibility, cost reduction, and overcoming challenges associated with labour sourcing. Engineering and manufacturing companies constituted 17 per cent of the total leasing activity. The proactive government policies and initiatives such as the Production Linked Incentive (PLI) scheme played a pivotal role in fuelling the growth of domestic engineering and manufacturing firms. Leasing of industrial and logistics spaces in Mumbai touched an all-time high, registering 9.9 million sq ft in 2023 as against 7.3 million square feet in the previous year. In Delhi-NCR, the demand fell to 7 million square feet last year from 9.4 million square feet during 2022 calendar year. Bengaluru saw a decline to 4.7 million square feet from 5.9 million square feet. Kolkata too witnessed a dip to 3 million square feet from 3.8 million square feet. However, in Hyderabad, the demand grew to 4.3 million square feet from 3.7 million square feet. Leasing of industrial and logistics spaces in Chennai increased to 6 million square feet from 3.9 million square feet. In Pune, the leasing went up to 1.7 million square feet from 0.7 million square feet. The demand for industrial and logistic warehousing spaces in Ahmedabad rose to 2.2 million square feet last year from 1.2 million square feet in the 2022 calendar year. "Driven by increased demand for high-quality spaces, restricted availability of quality supply in specific locations, and an escalation in land costs, rental values witnessed an annual rise in prominent micro-markets across cities, except in the case of Kolkata," CBRE said.

Industrial & logistics space demand hit record in 2023 at 38.8 mn sq ft in 8 cities: CBRE

Engineering, manufacturing and technology led the <keyword id="1039552" type="General" weightage="20" keywordseo="office-space-absorption" source="Orion">office space absorption</keyword> levels in <keyword id="12864" type="General" weightage="20" keywordseo="chennai" source="Orion">Chennai</keyword> as it grew by 107% between April and June 2023 period, a study undertaken by <keyword id="897106" type="General" weightage="20" keywordseo="cbre-south-asia" source="Orion">CBRE South Asia</keyword> Pvt Ltd said on Friday. Accordingly, the absorption level of office space stood at 2.5 million square feet space between April and June 2023 while it was 1.2 million sq ft during the same period of last financial year in the capital. Engineering and manufacturing together accounted for 45 % of office space, followed by technology 18 % and flexible office space operators at 16 % while remaining was contributed by other sectors. The majority of the office space absorption was small-size (less than 50,000 sq ft) deals, the study said. At the pan-India level during the April-June 2023 period, <keyword id="6861353" type="General" weightage="20" keywordseo="office-space-supply" source="Orion">office space supply</keyword> grew by 6 % and Hyderabad, Bengaluru, and Chennai accounted for the majority of the absorption levels. The non-Special Economic Zone (<keyword id="45393" type="General" weightage="20" keywordseo="sez" source="Orion">SEZ</keyword>) segment continued to dominate development completions during April-June 2023 period while SEZ segment accounted for 24 % of the new developments. Key transactions recorded in the city during April-June 2023 period include Agilysys which leased 181,800 sq ft in Ramanujan IT park, IndiQube leased 1,65,000 sq ft in Alpine and Cholamandalam Finance leased 80,000 sq ft in Tamarai Technology Park, the study said.

Office space supply up 6% in April-June 2023 led by Hyderabad, Bengaluru & Chennai: CBRE report

Leasing of industrial and warehousing space was highest in Delhi-NCR and adjoining areas during 2022 at 7.3 million square feet driven mainly by demand from third-party logistics and e-commerce firms, according to <keyword id="6376943" type="General" weightage="100" keywordseo="cbre" source="Orion">CBRE</keyword>. The leasing grew by 6 per cent in Delhi-NCR to 7.3 million square feet in 2022 from 6.9 million square feet in the previous year. In its latest report, CBRE said that the leasing of industrial and logistics space across eight major cities rose 8 per cent to 31.6 million square feet in 2022 from 29.4 million square feet in the previous year. Commenting on the report, <keyword id="330930" type="General" weightage="50" keywordseo="anshuman-magazine" source="Orion">Anshuman Magazine</keyword>, Chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE, said, "The intent to strengthen supply chain among global and domestic companies drove the leasing activity in 2022." The leasing activity in 2023 is expected to remain range-bound, driven by sustained demand from 3PL (third party logistics), engineering &amp; manufacturing and retail firms, he added. "On the supply front, we foresee project completions to exceed the 2022 levels and be in line with space take-up during 2023," Magazine said. As per the data, in Mumbai, the leasing grew 36 per cent to 6.1 million square feet in 2022 from 4.5 million square feet in the previous year. The leasing of industrial and logistic space in Bengaluru fell 18 per cent to 5.2 million square feet from 6.4 million square feet. Chennai saw a marginal decline in leasing to 4 million square feet. In Hyderabad, the leasing rose 16 per cent to 3.7 million square feet from 3.2 million square feet. The leasing activities in Pune fell 64 per cent to 0.6 million square feet from 1.8 million square feet. In Kolkata, the leasing jumped to 3.8 million square feet from 1.9 million square feet. Leasing of industrial and logistics space was up 33 per cent in Ahmedabad during 2022 to 0.8 million square feet from 0.6 million square feet in the previous year. The consultant said that the overall leasing across eight cities grew despite global headwinds, and a slowdown in e-commerce demand and dissipation of the post-pandemic need to hold additional inventories. This is the second-highest leasing activity recorded in industrial and logistics after the 2019 peak of 32 million square feet. The total supply in 2022 touched 20.9 million square feet. The 3PL players accounted for about half of the annual space take-up, driven by heightened demand from interlinked stakeholders across the supply chain (wholesalers, retailers, &amp; e-commerce players) for the need to shore up distribution capabilities. Over the last five years, 3PL players have cumulatively leased more than 60 million square feet across India. A majority of this space take-up was led by domestic occupiers. Engineering &amp; manufacturing firms picked up pace in 2022 with a share of about 16 per cent in total leasing compared to 10 per cent in 2021. "For local engineering and industrial players, government policy enablers like the <keyword id="8870884" type="General" weightage="50" keywordseo="production-linked-incentive" source="Orion">Production Linked Incentive</keyword> (PLI) programme worked as a growth stimulant," the consultant said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/dedicate-mumbai-coastal-road-to-lata-didi-urges-mangeshkar-family/articleshow/97650326.cms">Dedicate Mumbai coastal road to Lata Didi, urges Mangeshkar family</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/byjus-to-miss-march-2023-deadline-for-group-level-profitability-results-delayed-again/articleshow/97650755.cms">BYJU's to miss March 2023 deadline for group level profitability, results delayed again</a>

Leasing of industrial, logistics space highest in NCR in 2022 across top 8 cities: CBRE

The year 2022 recorded an escalation in material costs due to curtailed production amid the pandemic and increased international shipping costs led by supply chain bottlenecks. The overall construction cost of greenfield infrastructure projects increased by 5-7 per cent in the third quarter of 2022 (July-September), said leading real estate consulting firm <keyword id="6376943" type="General" weightage="100" keywordseo="cbre" source="Orion">CBRE</keyword> South <keyword id="21718" type="General" weightage="50" keywordseo="asia" source="Orion">Asia</keyword> in a report on Thursday. The report examines the current market landscape and deliberates on factors influencing cost trends across key asset classes. Labour costs increased by 8-10 per cent and reinforcement steel prices by about 20 per cent year-on-year during Q3 2022. Looking ahead, the CBRE report said inflationary pressures are widely expected to abate in 2023. "This, alongside the resolution of supply chain disruptions and more active policy intervention from the government, might limit hikes in material prices," it said. The outlook for construction costs remains stable but cautious as market volatility is likely to persist in 2023 along with monetary tightening, continued high inflation, a possibility of a recession in developed economies and geopolitical turmoil-related challenges. CBRE report forecasts a marginal rise in the overall construction costs during 2023 across cities, with Mumbai likely to witness a sharper rise. Fuel price volatility may also impact the overall input costs in 2023. "Despite supply constraints, the demand side of the equation is bolstered this year by rental increases and market demand. Construction demand is likely to remain strong in the near term. We expect a comparatively stable outlook for the <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>n economy with the possibility of potential economic slowdown; however, considerable pent-up demand for new construction--including government infrastructure projects--should largely sustain construction activity in India," said Anshuman Magazine, Chairman and CEO - India, South-East Asia, <keyword id="30350" type="General" weightage="50" keywordseo="middle-east" source="Orion">Middle East</keyword> and <keyword id="12925" type="General" weightage="50" keywordseo="africa" source="Orion">Africa</keyword> of CBRE. According to <keyword id="3956981" type="General" weightage="50" keywordseo="gurjot-bhatia" source="Orion">Gurjot Bhatia</keyword>, Managing Director, Project Management - India, SE Asia, Middle East, and Africa: "As the cost of major materials such as cement and steel has declined quarter-on-quarter and a gradual improvement in supply chain bottlenecks was witnessed during Q3 2022, construction cost has stabilised across asset classes and cities." Despite headwinds, construction demand is expected to remain strong in the near term, <keyword id="4943" type="General" weightage="50" keywordseo="bhatia" source="Orion">Bhatia</keyword> said, adding that considerable pent-up demand for new construction should largely sustain the marginal increase in the cost of construction. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/retail-inflationary-pressures-expected-to-ease-with-fresh-kharif-arrivals-finance-ministry/articleshow/95760372.cms">Retail inflationary pressures expected to ease with fresh Kharif arrivals: Finance Ministry</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/uks-asian-rich-list-hinduja-family-retain-top-spot-uk-pm-sunak-his-wife-make-debut/articleshow/95761539.cms">UK's Asian Rich list: Hinduja family retain top spot, UK PM Sunak, his wife make debut</a>

Construction cost of greenfield infra projects increased by 5-7% Q32022: CBRE

<ul><li>The <keyword id="9185181" type="General" weightage="20" keywordseo="demand-for-office-space" source="Orion">demand for office space</keyword> continues to grow by at least 62% in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, as per a report by <keyword id="6376943" type="General" weightage="80" keywordseo="cbre" source="Orion">CBRE</keyword>.</li><li> But the demand is going up especially for environmental, social and governance or ESG-compliant offices or green buildings</li><li>This trend is likely to emerge as companies primarily opt for flexible working patterns post the pandemic as employees want a good mix of remote working and work from the office.</li></ul>It is official now that Indian employees are not willing to ‘go’ back to offices like they did before the pandemic. To suit this, 73% of companies or <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> renters are evaluating hybrid working arrangements. Overall, the demand for office space continues to grow by at least 62% in India, as per a report by CBRE, a real estate investment firm. Most companies intend to increase the size of their real estate portfolios over the next three years. But the demand is going up especially for environmental, social and governance or ESG-compliant offices or green buildings, the report says. Around 52% of the respondents of a survey said that they want to relocate to an ESG-compliant building. Another 7% are willing to relocate to such a place even with a premium rental. And they are willing to rent to suit their flexi strategies. “While one-third of the respondents indicated consolidation in fewer locations, along with meeting flexible demand via coworking spaces as part of their flexible portfolio strategy,” says the report. This trend is likely to emerge as companies primarily opt for flexible working patterns post the pandemic as employees want a good mix of remote working and work from the office. “Return to office for several corporates in India is already underway. However, with the widespread adoption of hybrid working since the pandemic, many companies are still considering the degree of flexibility needed to enhance employee productivity and connectivity,” said Anshuman Magazine, chairman &amp; CEO of India, South-East Asia, Middle East &amp; Africa at CBRE. <cmsannotation type="cmsannotation" annotationid="Companies have retained the seating arrangement" comment="subhead" text="Companies have retained the seating arrangement">Companies have retained the seating arrangement</cmsannotation> The report says that offices are looking to enhance the appeal of ‘me’ spaces and create more flexible ‘me /we’ spaces. They are also adopting more activity-based working, hotdesking, and targeted mobility. Hot desking is an office system that involves multiple workers using a single physical workstation or surface during different time periods. Among the flexible seating options available, hot desking has grown by 100% over the past two years. As many as 44% of the companies surveyed retained the seating arrangements, as of 2022. “A key priority for office occupiers in India would be to tailor workplace strategies to ensure that their offices are suitable for flexible working. Owing to this, CBRE has observed a shift from fixed to flexible workplace configurations, which is likely to continue going forward,” said <keyword id="506097" type="General" weightage="50" keywordseo="ram-chandnani" source="Orion">Ram Chandnani</keyword>, managing director, advisory and transactions services at CBRE India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejet-shares-plunge-sharply-due-to-several-technical-malfunctions-and-rising-jet-fuel-prices/articleshow/92742788.cms">SpiceJet: In the eye of a perfect storm</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">Vivo allegedly sent ₹62,476 crore to China to evade taxes in India – here’s everything you need to know</a>

The post-pandemic work space would be greener and more ‘tailor-made’

<ul class="summary-list"><li>Office buildings are sitting empty across much of the world, as professionals work remotely to prevent the spread of the coronavirus. </li><li>Business Insider gathered comments from seven experts on what the return to work will look like.</li><li>The return to the office will likely be marked by two waves: before a vaccine, and after a vaccine. </li><li>In the short term, offices will feel emptier than before as people return in shifts to workplaces with more private spaces, cubicles separated by plastic guards, and hallways signposted for one-way traffic.</li><li>In the long term, the office might convert into the social backbone of a company while focused individual work will take place remotely.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymarymarymary">Click here for more BI Prime stories</a>.</li></ul>The world is in the midst of the largest remote-work experiment ever, with office professionals around the world trading conference rooms for Zoom and their suits for sweatpants. Like all experiments, it will eventually end, much to the delight of working parents who have had to add teacher and babysitter to their workday responsibility list. However, when workers come back, they won't be coming back to the same offices as before. Employers and landlords have spent the time away from the offices creating plans and protocols that bring social distancing to the office, with the hope of minimizing the spread of the virus.<a href="https://www.cushmanwakefield.com/en/insights/covid-19/recovery-readiness-a-how-to-guide-for-reopening-your-workplace">Cushman &amp; Wakefield is converting an office in Amsterdam into the "Six Foot Office,"</a> a living laboratory that is informing a comprehensive guide for office operators looking to make their office safe.The return is unlikely to be marked with a parade, <a href="https://www.businessinsider.com/what-san-francisco-can-learn-spanish-flu-pandemic-coronavirus-1918">like the 1918 parade in San Francisco that brought the Spanish flu back with a roar</a>. Until a vaccine is developed, the office, and every other part of society, will have to observe social distancing to prevent coronavirus cases from picking back up and locking the country back down. Business Insider heard from seven experts about the return to the office. They envision a two-part return: first, a slow trickle where only those that need to be in the office will return, and later, once a vaccine is developed, a more permanent return.The first return will be slow, methodical, and may feel anticlimactic. Workers will return in shifts, and offices will feel emptier than before. Some open-plan offices may even see the return of private offices, or at least cubicles separated by plastic guards that protect against the virus's spread. Some workers may work from home indefinitely.The final return, after the development of vaccine and the beginning of herd immunity, is more uncertain. Will offices look like they did at the beginning of March 2020? Likely not. The coronavirus crisis will likely mark a permanent shift towards remote work, which will have major effects on offices.For companies to make the best decisions, they will need to be flexible and responsive to the needs of their employees. The proposed changes will also be expensive, which will be harder for businesses to pay for as the economy restricts. Building operations technology company Enertiv found that only 31% of properties have used the lock-down period to do maintenance."Instead of leading with a solution, our recommendation is that we are led to the solution," Sundar Nagarajan, head of consulting at <keyword id="6370127" type="UNKNOWN" weightage="60" keywordseo="JLL">JLL</keyword>, said in a webinar about the future of the office. <h2>The office: before a vaccine</h2>Companies and landlords are preparing for shelter-in-place orders to lift, and for workers to return. For each company, the plan might be different, but there's one constant across all the plans: there will be less employees in the office."Every person who comes to an office increases the risk of other people in the office getting sick exponentially," JLL's Nagarajan said.Without a vaccine, even the top protocols can't bring the chance of transmission to zero. This also means that the first reentry may not be the final reentry. The next 12-18 months, before a vaccine is available, may be marked by a cycle of lockdown and relaxation, with periods of 100% remote work. <h2>How to reduce transmission </h2>In this first phase, companies will do what they can to manage risk, but it can't be avoided."It's impossible to run a completely risk-free work environment," Lenny Beaudoin, executive managing director of space enablement services at <keyword id="6376943" type="UNKNOWN" weightage="60" keywordseo="CBRE">CBRE</keyword> told Business Insider. However, companies should be doing what they can to reduce risk.There are five main categories of changes that need to be made to prepare the office, and office workers, for the first return to the workplace, according to Keith Perske, executive managing director of workplace innovation at Colliers: office design, behavioral changes, enhanced cleaning, technology, and communication of new protocols.The popular open-floor office design leads to social distancing challenges, as employees often sit less than six feet apart without any protective screens between them. Companies are considering only using every other desk, or putting plastic screens between desks. Some are even considering a move away from open offices, erecting cubicles or even walls between desk space. Shared spaces, like break rooms, phone booths, and conference rooms are hotspots for disease transmission, and will likely be converted into offices. Meetings will remain digital for the most part. Companies and landlords both will also have to consider larger improvements to spaces such as improved ventilation."How do you manage that density if you're not willing to physically change the environment?" Colette Temmink, president of property services at office services company Eden told Business Insider. The answer: changes in-office behavior. These changes range from wearing masks and instituting one-way hallways to prevent close contact, to staggering work schedules throughout the day, or even alternating days or weeks in the office. Landlords or companies may also screen for fevers and other symptoms at the entrance to an office.For behavioral changes to work, they need to be followed. Colliers' Perske said that companies will need to empower employees to hold each other accountable, as you "can't quite have a sheriff." The ability to do this will be dependent on a company's culture, though luckily, according to Beaudoin, most employees are coming back to the office as hygiene "experts."<h2>The cost of cleanliness and spatial awareness tech</h2>These behavioral changes will have their own costs, Beaudoin said, as companies have to hire people to facilitate screening and staff to operate kitchens and elevators that were originally self-service. They will likely spend more on these services than on physical changes to the office. Another key area where costs will increase is in hygiene, as companies will, at minimum, double the amount of cleaning they do in the office. Companies will look for hardware that replaces ID cards with facial recognition and elevators and doors that don't require any contact will become common.Technology that tracks space utilization can also give data on the success of social distancing protocols, highlighting times when people didn't observe social distancing. Artificial intelligence company Landing AI has developed demo software that uses video to flag inadequate social distancing in the workplace in real time to worker's managers or office managers over email, though it has <a href="https://www.technologyreview.com/2020/04/17/1000092/ai-machine-learning-watches-social-distancing-at-work/">received criticism for increasing surveillance in the workplace</a>.As after 9/11, the pandemic will force landlords and companies alike to rethink how they prioritize security and privacy. Companies that put too much or too little emphasis on security could face employee dissatisfaction or action. This has played out already among essential workers, with <a href="https://www.businessinsider.com/coronavirus-instacart-workers-strike-hazard-pay-hand-sanitizer-automatic-tip-2020-3">Instacart workers</a> and <a href="https://www.businessinsider.com/hundreds-amazon-workers-call-in-sick-to-protest-coronavirus-response-2020-4">Amazon workers</a> striking over unsafe working conditions. <h2>Keeping up the communication</h2>In order for these protocols to work, and for companies to keep employees happy, communication in both directions are key. Companies should be proactively sharing everything they can about the changes they're making with employees, and they should also be surveying them to make sure that they're making the changes that will make employees feel safe.Communication also comes in the form of extensive signage around the office to remind employees to follow social distancing protocols. Some companies are even creating courses on new protocols, which employees will need to pass before they can come back to the office. The CEO of financial services company Discover, Roger Hochschild, has been sending employees daily emails to update them on the changes the company is making, Jon Drummond, Discover's head of external relations, told Business Insider. The company is considering many of the strategies the experts have suggested, such as converting open seating to assigned desks, checking temperatures at the entrance, and staggering arrival to the office. <h2>The dangers of shared spaces </h2>Of course, office workers do not just appear at the office, they need to travel there. For workers that drive their own car to a single-tenant building, they may only need to enter spaces controlled by their company. For workers who take public transportation and enter a multi-tenant building, they could be walking through spaces with many different protocols and risk potentials. Landlords of multi-tenant buildings have been thrust into the role of coordinating between their tenants, as all it takes to turn a building into a hot spot is a mistake made by the lowest common denominator. The challenge will depend on the building and the tenant mix, but the landlord is usually responsible for making the rules and regulations for all of the shared parts of the building, Andrew Sucoff, real estate partner at Goodwin Law told Business Insider. "It starts to get a little fuzzy when you say: OK, how many people can be in the elevator at the same time, and who is going to enforce that?" Sucoff said. <h2>The office: after vaccine</h2>When a vaccine is completed, and social distancing rules are relaxed, the office is unlikely to snap back to the way it was at the beginning of 2020. "I think we've accelerated ourselves 5 years into the future, or maybe more," Perske at Colliers told Business Insider. In a webinar hosted by <a href="https://www.businessinsider.com/cretech-2019-more-suits-more-money-more-attendees-than-ever-2019-10">CREtech, </a>Arnold Levin, director of strategy at architecture and design firm Gensler, offered some potential visions for the phase two office. In one scenario, which Levin called "seasonal mobility," will alternate between time in the office and time remotely based on seasonal dangers, like wildfires on the west coast, hurricanes on the east coast, or potentially the next pandemic. He also said the office could be reimagined as a"brand and culture hub" where the central office becomes a place to train, hold large meetings and corporate culture events, and bring clients, with individual work taking place at home or in smaller satellite locations.One thing is clear, remote work, in some form, is here to stay. <a href="https://www2.colliers.com/en-gb/news/02-04-20-covid19-could-be-catalyst-for-remote-working-to-become-the-norm">A Colliers survey</a> found that 82% of office professionals would like to work remotely at least one day a week after the end of the crisis. "The door has been opened, and I don't think you can close it," Perske said.Read the original article on <a href="https://www.businessinsider.com/when-businesses-will-reopen-offices-how-go-back-to-work-2020-4">Business Insider</a>

What to expect when you're back in the office: 7 real-estate experts break down what the transition will look like, and why the workplace may never be the same

<ul><li>The Indian real estate sector has seen a lot of international investments over the past few years - many of which seems to have come from one source: <keyword id="6356662" type="LOCATION" weightage="20" keywordseo="singapore">Singapore</keyword>. </li><li>In fact, out of the $14 billion worth of <keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">private equity</keyword> investments that have been pumped into India’s realty sector between 2015 and 2018, nearly a third of that total has come from entities based in Singapore. </li><li>And they’re not just focussed on commercial properties. They are also investing in logistics, factories and warehousing, as per <keyword id="4695749" type="PERSON" weightage="20" keywordseo="anarock">ANAROCK</keyword>’s report, “Private Equity in Indian Real Estate”. </li></ul> The Indian real estate sector has seen a lot of international investments over the past few years - many of which seems to have come from one source: Singapore. In fact, out of the $14 billion worth of private equity investments that have been pumped into India’s realty sector between 2015 and 2018, nearly a third of that total has come from entities based in Singapore, according to ANAROCK, a <keyword id="6354516" type="UNKNOWN" weightage="20" keywordseo="property">property</keyword> consulting firm. The investments, which have come from private equity firms like the state-backed GIC, Ascendas and Xander, have been gradually rising. While they put in a total of $1.15 billion in 2015 and 2016, the amount tripled to $3.5 billion in 2017 and 2018. And they’re not just focussed on commercial properties. They are also investing in logistics, factories and warehousing, as per ANAROCK’s report, “Private Equity in Indian Real Estate.” A big deal came at the end of 2017, when GIC, Singapore’s sovereign wealth fund, took a 33% stake in DLF, an Indian realty major, <a href="https://www.livemint.com/Companies/J4YpZGHrJnajkFLliGCCeJ/DLF-promoters-conclude-nearly-Rs9000crore-deal-with-GIC.html">in a ₹90 billion deal.</a> The investments from Singapore comes at an opportune time for Indian property developers. As the IL&amp;FS crisis led to a liquidity crunch in the housing finance sector, property developers have been relying more on private equity as a source of funding. But why are these Singaporean firms so interested in India? Shobit Agarwal, the CEO of ANAROCK, thinks the answer is pretty straightforward. “Apart from the increased ease of doing business, the launch of REITs and the considerable thrust on infrastructure development, such funds see the indubitable growth potential in India today,” says Agarwal. Besides, their historic familiarity with India doesn’t hurt either, he adds. Hence, a more conducive regulatory environment works in India’s favour. However, it would be a mistake to think that investors in Singapore are specifically focussed on India. Their interest in India dovetails with a larger trend of the expansion of Singapore’s private equity majors into global property markets. As Chinese investors have retreated from global property markets amid capital controls at home, Singapore’s private equity firms are filling the gap, writes <a href="https://www.scmp.com/comment/insight-opinion/hong-kong/article/3002121/global-property-investments-singapore-stepping">Nicholas Spiro</a> for the South China Morning Post. In fact, as Chinese outbound real estate investments fell by 84% to less than $5 billion last year, Singaporean firms spent <a href="https://www.rcanalytics.com/singapore-korea-players/">nearly $25 billion</a> on international property investments - 40% of which were in Asia- according to Real Capital Analytics. Interestingly, Singaporean firms are looking abroad for property investment opportunities amid a dearth of investable assets and compressed yields at home. “Singapore is the largest source of Asian capital in global real estate investments in 2018 and this is driven by limited opportunities and compressed yields in the domestic market” says Yvonne Siew, an executive director at <a href="https://www.cbre.com.sg/about/media-centre/singapore-tops-asian-outbound-real-estate-investment-in-2018">CBRE</a>, a commercial real estate investor. SEE ALSO: <a href="https://www.businessinsider.in/gst-cut-on-real-estate-may-relieve-pain-temporarily/articleshow/68146057.cms">Indian real estate builders welcome GST relief but opinions are divided</a> <a href="https://www.businessinsider.in/from-affordable-housing-to-co-working-spaces-heres-how-2018-fared-for-indian-real-estate/articleshow/67317937.cms">From affordable housing to co-working spaces — here’s how 2018 fared for Indian real estate</a>

Singapore is betting big on India’s property market —  but it’s part of a larger international trend

<ul class="summary-list"><li>CBRE, the world's largest commercial real estate brokerage and services firm, has many different internships. Its largest is the national sales internship program, which pairs interns with brokerage teams. </li><li>It received 4,500 applications for 2020, and CBRE expects to make 175 placements in the internship program. </li><li>We spoke to Elisha Bejsovec, the CBRE program manager for campus recruiting who runs the national program, and Lew Horne, CBRE's president of the Pacific Southwest division, about how to nab a spot. </li><li>They suggest having prior internships in the field or joining their schools' real estate society or club. Horne said that they're "laser-focused" on attributes, because "you can train the skills."</li><li>Resume keywords like real estate, leadership, networking, and analytics demonstrate that an applicant may have the attributes that the firm is searching for.</li><li>One way to have a better chance is by networking with the local CBRE brokers and teams. Bejsovec said that many brokers would be glad to meet with potential interns.</li><li><a href="https://www.businessinsider.com/prime">For more BI Prime stories, click here.</a></li></ul>In an increasingly professionalized real estate world, the right stamp of approval for a job-hunting student or early-career professional can be crucial.<a href="https://www.businessinsider.com/best-internships-in-investment-banking-2017-10">While internships at Wall Street giants may draw more attention on campus</a>, real-estate firms have launched their own, ultra-competitive programs. CBRE, the world's largest commercial real estate brokerage and services firm, has six different internship opportunities for recent college grads, from finance and valuations work to project management and tech, as well as a range of opportunities for MBAs and other graduate students, but its largest is the national sales internship.Launched five years ago, the paid internship runs for eight weeks in the summer and is open to undergraduate juniors and seniors, as well as graduate students. It operates in 15 markets around the country, with the size of the class of interns proportional to the size of the market. Almost all of CBRE's largest markets are represented, except for New York, which has its own, separate sales internship program.The national sales internship program has an acceptance rate that's comparable to Harvard's undergrad program: just under 4%. It received 4,500 applications for 2020, and is projecting to make 175 placements in the internship program. Interns are paired with a brokerage team and also work in small groups on a competitive project, pitching their own insight to solve problems on CBRE's actual deals in progress. We spoke to Elisha Bejsovec, the CBRE program manager for campus recruiting who runs the national program, and Lew Horne, CBRE's president of the Pacific Southwest division, about the program, and their tips to get a spot in the intern class, and how to get hired at the end of the eight weeks. "It's a potential free look for them and a potential free look for us," Horne told Business Insider (free look is a real estate synonym for due diligence period). They did not disclose the interns' salary, but said it was "competitive" with similar programs. <h2>Use these resume keywords to stand out</h2>The internship recruiting process starts at the end of the summer, when CBRE post the job opening on its website and on-campus job portals. Bejsovec and her team hold info sessions at some universities with strong real estate, sales or entrepreneurship programs, but they open up applications to a wide range of students.Last year, the class of 135 interns came from 77 different universities. Each localized program recruits mostly from nearby universities - Horne said that in greater LA, that means USC and UCLA send many students.Bejsovec and Horne said that while academic performance is an important part of the selection, their top priorities for applicants are that they have demonstrated interest in commercial real estate, and that they have the right attributes for a sales job. "GPA is great, but a lot of time it doesn't tell the whole story," Bejsovec said. Bejsovec and Horne suggest having prior internships in the field or joining their schools' real estate society or club as great ways to show a passion for real estate. Even better, if the intern was in the leadership for their school's real estate society as that indicates they have the right characteristics.Horne said that they're "laser-focused" on attributes, because "you can train the skills and the knowledge comes with reps." Resume keywords like real estate, leadership, networking, and analytics demonstrate that an applicant may have the attributes that the firm is searching for.<h2>Network with local CBRE brokers to gain an edge</h2>One way to have a better chance of selection is by networking with the local CBRE brokers and teams. Bejsovec said that many brokers would be glad to meet with potential interns, and that it could pay off with your application. CBRE has a referral tracking process for the intern program, which is a source of many of their applicants."This is a relationship-oriented business," Bejsovec said. "It's better for you to be known than to just send your application out there and hope it gets accepted." The application is kept open for a few months, and applicants should hear back with next steps in January. For those that move forward, the next step is a virtual interview: a pre-recorded interview with the students responding to a set of questions that they read off of their computer screen. This can be awkward, but the awkwardness is a feature, not a bug, as it can "show them in their element" while also overcoming "some adversity," Bejsovec said. The last step is an onsite "superday," where finalists come into their local office and interview directly with the teams they would potentially work for. This day is also where the recruiting team matches interns with the teams that make most sense for their interests by asset class. <h2>Internal networking is the X factor </h2>The internship can turn into a full-time role; 20% of interns were converted to full time in 2018. These offers are not always in brokerage, which Bejsovec said is a "tough place to start as a young person," and interns have been hired into research, valuations, and client management as well. Success at CBRE is, in many ways, typical to success in any setting. Bejsovec and Horne encourage students to make sure they come in on time and leave with the rest of the team, to ask questions and learn, and to do high-quality work. The X factor, same with the application, is an intern's ability to network outside of their direct team at CBRE, as many interns are actually hired onto teams other than the sales team. Bejsovec and Horne highlighted CBRE's affinity networks, like its military network, LGBT network, and women's network, as ways that interns have been able to make those valuable connections. The final group project is another way for interns to stand out. Ryan Gurman, a 2017 intern, won the Greater Los Angeles County/ Orange County contest with a pitch about a retail shopping center that CBRE was working on. The client actually followed through on Gurman's pitch, and Gurman was hired. He was awarded CBRE West LA's 2019 Rookie of the Year award.Even for those that don't get converted to full-time roles, Horne said that the program has built an "industry-level reputation," and alums are sprinkled among CBRE's competitors like JLL and Cushman and Wakefield, more boutique firms, private equity and VCs. Bejsovec credits the interns themselves, who have built relationships at the program that have gotten them jobs later on.

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Equity investments in Indian real estate may rise 49% to record $11 billion this year, says CII-CBRE report

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Economic Survey pegs growth at 6.5-7%; solidifying India's strong macroeconomic fundamentals: CBRE

PTI

Industrial & logistics space demand hit record in 2023 at 38.8 mn sq ft in 8 cities: CBRE

PTI

Office space supply up 6% in April-June 2023 led by Hyderabad, Bengaluru & Chennai: CBRE report

PTI

Leasing of industrial, logistics space highest in NCR in 2022 across top 8 cities: CBRE

PTI

Construction cost of greenfield infra projects increased by 5-7% Q32022: CBRE

ANI

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What to expect when you're back in the office: 7 real-estate experts break down what the transition will look like, and why the workplace may never be the same

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Singapore is betting big on India’s property market — but it’s part of a larger international trend

Dilsher Dhillon

Here's how to land a spot in real-estate giant CBRE's ultra-competitive sales internship program that's harder to get into that Harvard

Alex Nicoll

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