For retail and office space occupiers, India’s corporate real estate has huge potential.
Since Indian cities offer the largest corporate real estate in Asia, emerging trends hint towards huge potential in the next few years for the further development of corporate real estate. Many of such office occupiers are confident about this trend and see it as a bright opportunity for developing brand value while focusing on employee-friendly and environmentally-conscious spaces as well.
Considering the shortage of good quality office spaces, multinationals are going a step ahead and choosing pre-commit spaces for their future needs and portfolio optimization. Examples include Google, Bank of America, Gartner, and BCG which are pre-committing spaces in properties including NCR’s Unitech Signature Tower and Cyber Park by DLF.
Instead of standard lease terms of 9 years, corporate in Delhi NCR are negotiating a 12-15 year lease term for want of occupational rights for longer terms and to protect themselves from rental rises.
The design of a workplace reflects its whole philosophy and the culture that it prides itself. Occupiers have a strong commitment to building a coworking space that reflects intrinsically on the employees and owners.
It is important that the place the occupier chooses gives a sense of belonging, trust, and efficiency to the employees as well as the owners. Many of the corporate are aware of this fact and are investing in emerging technologies like automation and robotics. For instance, Amazon which invested in a robotic company, Kiva Systems in 2012, has more than 45,000 robots in various centers.
Corporations are paying close attention to the widespread choices when partnering with co-working brands. These also include benefits like flexibility in lease terms, attractive design, and a vibrant environment for employees. The occupiers can lease need-based office space by the hour or day or month or on a long-term basis.
Through real estate consolidations or merging multiple office spaces into one, corporates have been able to achieve 40-45 percent savings in their operational costs as well as gain employee satisfaction, improve logistics and increase the overall profitability of the business.
Occupiers have plenty to gain from environment-friendly spaces which consume optimal energy and are also a hub of amenities, last-mile connectivity, rich landscape, and requisite infrastructure.
Corporate real estate strategies are focused on increasing business operations and their profitability by catering to the various stakeholders that matter to it.